“PetroVietnam is searching for to chop prices and broaden its export market and can take into account growing the purchases of crude oil for stockpiling when the costs backside,” the corporate informed Reuters in an emailed assertion.
The corporate mentioned it was “drastically impacted” by the coronavirus however didn’t present additional particulars.
World Brent crude costs have slumped greater than 60 per cent for the reason that begin of the yr to under $30 a barrel, the bottom in additional than 4 years.
“The group is constructing applicable plans to answer any situations of the affect (of coronavirus) on its monetary assets, labour and product output,” PetroVietnam mentioned.
Weeks after declaring the restoration of all 16 of its coronavirus victims, Vietnam has confirmed 68 infections, however no deaths, after authorities introduced a surge in infections from abroad.
Vietnam introduced on March 17 that it could introduce necessary quarantine for all guests from america, Europe and ASEAN international locations and droop the problem of latest visas for all overseas nationals.