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Banking & Finance

Surplus for BOG fund in Q3

Released at: 19:43, 09/11/2015

Surplus for BOG fund in Q3

Petrol price stabilization fund improves on Q2 result.

by Hung Nguyen

The Ministry of Finance has recently released figures on the petrol price stabilization fund (BOG Fund) in the third quarter of 2015 based on data collected from petrol trading units all over the country.

The balance of the BOG fund on September 30 was VND2.77 trillion ($123.59 million), significantly higher than the VND1.79 trillion ($79.86 million) in the second quarter.

The total amount in the BOG for the third quarter was VND1.81 trillion ($80.76 million), with VND335.31 billion ($14.96 million) having been used.

Some units recorded a surplus in the BOG fund, such as the Vietnam National Petroleum Group (Petrolimex) with VND1.18 trillion ($52.65 million), the PetroVietnam Oil Corporation (PV Oil) with VND146.84 million ($6,552), and the Military Petroleum Company (MPC) with VND336.98 million ($15,036).

Ten out of 19 petrol enterprises recorded a deficit, however, including S.T.S Petroleum and Logistic Services JSC with VND27.71 million ($1,236) and the Nam Song Hau Trading Investing Petroleum JSC with VND33.04 million ($1,474).  

Profit from the surplus in the third quarter stood at VND2.82 billion ($125,828).

In the third quarter the BOG fund of Petec Trading & Investment Corporation was included with the figure for PV Oil.

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