On October 31, the VN-Index dropped nearly 30 points, falling below 1,640 points, while the oil and gas stocks stood out with many codes like GAS and PVB increasing over 3%. PVD even hit the ceiling with an unprecedented trading volume. The rise of this group stems from Resolution No. 66.6/2025/NQ-CP, allowing the Vietnam National Oil and Gas Group (PVN) to self-decide on many oil and gas activities, enhancing proactiveness and reducing procedures. Additionally, many companies in the sector like PV Drilling (PVD) and PV Services (PVS) reported promising third-quarter financial results, with post-tax profits increasing by 54% and 73%, respectively. PV GAS also recorded a 41% increase in revenue compared to the same period last year. The combination of positive information and solid business results helped oil and gas stocks “swim against the current” amidst the declining overall market.
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