Brent oil price increased for 4 consecutive sessions on June 15. Photo: Reuters Ending the session on June 14, Brent oil price advanced 17 US cents to 72.86 USD/barrel. The price of this oil commodity at the beginning of the session jumped to $73.64 per barrel – the highest level since April 2019. The price of WTI oil fell 3 US cents to 70.88 USD/barrel, after touching $71.78/barrel at one point, the highest level since October 2018. The price of “black gold” has increased sharply in recent weeks thanks to a gradual recovery in demand for fuel in the context of many countries easing restrictions to prevent the Covid-19 epidemic. The International Energy Agency (IEA) on June 11 forecast that global demand will return to pre-pandemic levels by the end of 2022, faster than previously predicted. The IEA called on the Organization of the Petroleum Exporting Countries (OPEC) and its allies, collectively known as the OPEC+ group, to increase supply to meet demand. The OPEC+ group has limited output to support oil prices after the Covid-19 pandemic caused demand to drop to a record in 2020. Indirect discussions between the US and Iran, and the remaining powers in the 2015 Iran nuclear deal, resumed on June 12 in Vienna (Austria). However, the European Union (EU) described this round of negotiations on the multilateral nuclear deal as “tense”. The US return to the Iran Nuclear Agreement, also known as the Joint Comprehensive Plan of Action (JCPOA), would pave the way for the lifting of economic sanctions on Tehran, thereby allowing the OPEC member This continues to export crude oil. However, financial consulting firm ING Economics said that the possibility of the US rejoining the JCPOA before the Iranian presidential election this weekend is very unlikely. Regarding supply, the OPEC + group recently decided to maintain the production agreement to support oil prices in the middle of the epidemic season. According to ING, additional supply from the OPEC+ group will be needed in the second half of the year, as demand is expected to continue to recover. However, the rally of oil prices in the session was also limited as investors cautiously waited for the outcome of the policy meeting of the US Federal Reserve (FED) from 15-16/// 6 to look for signals on when the central bank will begin to scale back its monetary stimulus measures.

Vietnamese officials and engineers at the Sahara field. According to PVN, on August 13, 2015, PetroVietnam Exploration and Production Corporation (PVEP – a unit of PVN) announced that it had exploited the first oil flow in the Sahara desert. This was a historic event of the oil and gas industry at that time, because this was the first successful project of PVEP as well as of PVN abroad from the first stage of participation in international bidding to the exploration stage. The first oil flow from the desert has been brought up through the BRS-6bis production well (one of four wells of the field) with a flow rate of nearly 2,000 barrels per day. After that, the capacity was gradually increased to 20,000 barrels of oil per day as planned. This project has a total investment of about 2 billion USD, lasts 29 years, with the capital contribution of Sonatrach Company (Algeria) 25%, PTTEP (Thailand) 35% and PVN (Vietnam) 40%, in which PVN through PVEP holds the management power. PVN workers at this project recounted that the Sahara desert where the project was located was hot and burning. The mining site of the mine is located in the Touggourt region, deep in the Sahara Desert. This area has a tropical desert climate, rainfall is less than 50mm/year. During the day, the temperature is extremely hot, the highest recorded is 50.6 degrees Celsius. Mr. Le Dac Hoa – Director of the Project Management Board of Block 01-02 of PVEP – who used to work at an oil field in the Sahara desert, said he was one of the few Vietnamese engineers sent to Vietnam. China carried out a project to build a new land rig PV DRILLING 11, before moving the rig to Algeria to carry out drilling campaign for PVEP’s Bir Seba Project. At this time, PV Drilling has to hire many foreign experts in charge of important positions on the rig. But by the second drilling campaign, all the most important positions on the rig were occupied by the Vietnamese. It sounds simple, but it’s a long story about the determination of PV Drilling’s board of directors who have trusted and entrusted the Vietnamese engineering force. All engineers given the opportunity are eager to learn, trying to learn to prove their true ability, can fully take on the most important positions on the rig. The three years of “swirling” in the Sahara fire was really an unforgettable time for Mr. Le Dac Hoa. He recounted that the first days he and his colleagues stepped foot in Algeria was also when the heat reached its peak. The work at that time was chaotic, all engineering, mechanical, electrical, water, and logistics work at the drilling site in the middle of the desert had to be prepared to welcome the PV DRILLING 11 rig, while the team of engineers. The main Vietnamese people are only about 8-10 people, the remaining more than 50 workers are all native. Language and cultural differences make communication extremely difficult, so in the beginning, Vietnamese engineers had to handle almost everything on the construction site themselves. According to Mr. Hoa, sometimes the temperature reaches more than 50 degrees Celsius, but there is no sweat on the body, because wherever the sweat goes, it is immediately dried by the hot winds and evaporated. . The typical hot winds of the desert always bring dust and sand towers, sometimes shoving directly into the faces of working workers. “The weather conditions are extremely horrible even for the indigenous people,” Mr. Hoa said and said that during the day it is, but at night, the temperature suddenly drops to approximately 10 degrees Celsius. The temperature difference is so big and so sudden that people who are only used to the tropical monsoon climate, which is cool all year round feel uncomfortable, even sick… According to Mr. Le Dac Hoa, the drilling project in Algeria is very difficult and complicated with different geological structure. “It is normal for the oil and gas profession to face difficulties, it is the oil and gas industry who must consider difficulties as their life, to force themselves to continue to strive, to continue to rise after each experience”, the engineer said. confidant.

After 2 years of sinking at the bottom, pepper in Vietnam suddenly went up by a price fever.

According to the News on agricultural, forestry and fishery markets According to the Ministry of Industry and Trade, in March 2021, Vietnam’s pepper export turnover was estimated to reach 30,000 tons, worth $ 86 million, up 123.4% in volume and 120.9% in value compared to the previous year. February 2021.

Vietnam’s pepper prices suddenly went up by a price fever.

According to data from the Import and Export Department, in 2020, Vietnam’s pepper export volume accounts for 59% of the global pepper export market share with 285,292 tons, an increase of 1.2% in volume, but a decrease of 6.8%. in value over the same period in 2019.

The second largest producer of black pepper in Brazil reached 89,756 tons, accounting for 18% of the market share; Indonesia holds 11% market share with export volume of 51,718 tons; India holds 12% market share, reaching 15,924 tons.

Notably, the price of pepper for raw materials in the country suddenly fluctuated in price. Within 1 month, the potential price of this commodity increased more than 4 times, from 17,500 VND / kg soared to 73,000 VND / kg (in the Ba Ria – Vung Tau market).

Import and Export Department (Ministry of Industry and Trade) said pepper prices in the provinces of Dak Lak, Dak Nong, Gia Lai, Dong Nai and Binh Phuoc were all at 72,000 VND / kg, 71,000 VND / kg, 70,000 VND / kg. , 74,000 VND / kg and 73,000 VND / kg.

The cause of pepper price fever, the Department of Agricultural Product Processing and Market Development (Ministry of Agriculture and Rural Development) said that the supply decreased while the consumer demand was prosperous.

In the first half of April, black pepper prices continued to remain stable at VND 70,000-74,000 / kg.

Compared to the same period in 2020, the current price of black pepper is twice as high (only reaching 35,000-37,000 VND / kg). Meanwhile, the price of white pepper was 108,000 VND / kg, much higher than 57,000 VND / kg in the same period in 2020.

Talking with reporters Industry and TradeMr. Hoang Phuoc Binh – Standing Vice Chairman cum General Secretary of the Chu Se Pepper Association (Gia Lai) – said that he is currently in the political service of Vietnamese pepper, businesses buy and sell pepper in the market. The world is focusing on Vietnam to purchase.

The “trigger” jump in pepper prices, said Mr. Hoang Phuoc Binh, there is a high possibility that the current pepper price is both real but also virtual. Because in addition to pepper purchased by export enterprises, there are a number of customers outside the industry who are Vietnamese who want to buy pepper for speculation.

Before the fever of raw pepper prices, farmers in pepper growing capitals expect prices to exceed 80,000 VND / kg and possibly increase to 100,000 VND / kg by the end of this year because supplies are plummeting. Therefore, many people have the mentality of “hugging” the goods, waiting for the “peak” to sell.

According to the International Pepper Association (IPC), the “shock” rise in pepper prices makes the pepper market in Vietnam difficult to predict, forcing importers to consider when sourcing the goods.

According to a survey of VFA, by 2021 Vietnam’s pepper output will decrease around 25% compared to the previous crop.

Explain T / h (Source Vietnamnet, Industry and Trade)