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China’s drills on Vietnam’s Paracel Islands are a violation of Vietnam’s sovereignty that complicates the South China Sea situation, foreign ministry spokeswoman Le Thi Thu Hang said Thursday. Hang said that China’s actions “have severely violated Vietnam’s sovereignty over the islands, gone against the spirit of the Declaration on the …

A customer buys petrol at a petrol station of Việt Nam National Petroleum Group (PLX) in Hà Nội. — VNA/VNS Photo To control increases in petrol prices, the Ministry of Finance (MoF) has proposed to reduce the environmental protection tax for petrol products to the floor level. The reduction will …

Petrovietnam Gas (GAS) posted VND6.9 trillion ($296.79) in post-tax profits in the first six months, or 98 percent of its yearly plan, thanks to rising oil prices. Revenues were VND54.56 trillion, equivalent to over two-thirds of its business plan. The profits and revenues were 59 and 34 percent higher than …