The Vietnam National Petroleum Group (Petrolimex) incurred a loss of over 1.8 trillion VND (78.2 million USD) in the first quarter due to the impact of COVID-19, according to its financial statement announced on May 5.
Hanoi (VNA)🅘 – The Vietnam National Petroleum Group(Petrolimex) incurred a loss of over 1.8 trillion VND (78.2 million USD) in thefirst quarter due to the impact of COVID-19, according to its financialstatement announced on May 5.
Petrolimex explained thatdue to the slumping petrol prices in the world, provision fund to make up falling prices of inventorieshas amounted to 1.5 trillion VND. Specifically, its revenue topped 39.49 trillion VND while costs surpassed 38 trillion VND. The profit ratio droppedfrom over 9 percent to 3.7 percent. Meanwhile, domestic petrol prices hit 11-yearlow since April. Petrol sales went down 10 percentyear-on-year while profits of its affiliates working in transportation, gas,petrochemicals also decreased from the same period last year./.
The Vietnam National Petroleum Group (Petrolimex) has decided to postpone its annual shareholders’ meeting 2020 scheduled for April 28, amid the complicated developments of the acute respiratory disease caused by SARS-CoV-2 (COVID-19).
The retail prices of petrol continued to be adjusted down for the seventh time this year on April 13 in the latest regular review of the Ministry of Industry and Trade and the Ministry of Finance.
The Vietnam National Petroleum Group (Petrolimex) on April 20 presented medical equipment to Hanoi-based Bach Mai Hospital to help the national-level facility fight the raging COVID-19 pandemic.
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Illustrative image (Photo: VNA) 
