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Sovereign Wealth Funds Briefing - Categorized | Market

Vietnam cuts Oil Stabilization Fund withdrawal funds for gasoline

Posted on 01 June 2010

From Platts.com : Vietnam has cut the amount of funds that oil companies can draw from the Oil Stabilization Fund for gasoline to Dong 200/liter (1 cent/liter) from Dong 500/liter, and that came into effect May 28, the Ministry of Finance said on its web site.
At the same time, the same decree issued May 27 also requires gasoline retailers to reduce retail prices of gasoline by Dong 500/liter — equivalent to 2.9% — on the same day the decree was issued……………………………………….Full Article: Source


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