Vietnam warns of refinery closures amid demand slump

State-owned PetroVietnam warned domestic refineries are at risk of shutting down amid swelling inventories, the collapse in oil prices and an unprecedented drop in transportation fuel demand amid measures to curb the Covid-19 outbreak.

Vietnam has high petroleum stockpile

Vietnam’s oil and gas inventories are over 90 percent higher than the required level, meeting the domestic petroleum consumption demand in the next few months, according to the Vietnam Energy Association (VEA).