Oil and gas industry

Update news Oil and gas industry

Stable cash flow is key to maintaining the Vietnam’s largest refinery - Nghi Son oil refinery’s production, said Egashira Hideaki, Investment Director of Idemitsu Kosan Company in a media briefing in Hanoi last week.

Thai oil refining firm eyes investment in Vietnam

Thai Oil Plc (TOP), Thailand’s the largest oil refining company by capacity, is looking forward to pouring its investment in Vietnam, Indonesia and India, in the fields of oil refinery, lube oil and high-value petrochemical products.

Vietnamese oil facing significant hurdles

The government is promoting energy self-reliance rapidly as global developments have significantly changed the world’s energy situation, pushing Europe into gas scarcity for this winter.

PetroVietnam proposes US$19 billion oil refinery complex and national oil reserve

The Vietnam Oil and Gas Group (PetroVietnam) has proposed to the Government an investment in a refinery and petrochemical complex and a national reserve of crude oil and petroleum products in Long Son Petroleum Industrial Park.

Policy changes needed for refineries to keep high capacity

The Dung Quat Refinery accounted for over 30 per cent of Viet Nam's petrol demand since the beginning of the year.

Increasing oil prices setting back gas-related ventures

Continuing global conflicts and price rises of various commodities are undermining the development and exploitation of oil and gas fields in Vietnam, and collaborations may continue to struggle if inflation pressures persist.

Uncertainty lingers on with global oil and gas investment

With a global oil price reaching eye-watering levels, much of Vietnam’s oil and gas potential depends on new-found investments in exploration technology, thus helping boost the country’s state budget.

Petrol law advances tailored for benefits

An amended Law on Petroleum is expected to revive funding opportunities for the oil and gas sector as many fields are reaching their productive peaks or experiencing a state of decline – as long as some outstanding issues are ironed out.

Reform needed to support oil and gas industry: experts

Experts have raised strong support for a comprehensive reform for the draft revised Petroleum Law that will help further develop the country’s oil and gas industry.

What else besides incentives are needed to ‘wake up’ investment in oil and gas industry?

Along with investment incentives, the Government proposed to the National Assembly many new policies in the Draft Law on Oil and Gas (revised) to "wake up" investment in the oil and gas industry.

Vietnam exports crude oil but imports oil for refinery

Vietnam has two oil refineries, Dung Quat and Nghi Son. Every year Vietnam imports millions of tons of crude oil while still exporting crude oil. What is the reason?

Oil and gas manufacturing affirms stuff in integration

The Government will establish a market for mechanic firms to develop, including facilitating the sector to seek for domestic and overseas markets for the country’s oil and gas engineering sector’s products.

Vietnam strives to realise goal of becoming powerful marine nation

Boasting great potential of marine economy in terms of natural resources, transport, fisheries, tourism and coastal economic zones, Vietnam has set the target to become a powerful marine nation.

Vietnam & Azerbaijan to boost economic relations

 VietNamNet Bridge – Ambassador of Azerbaijan to Vietnam, H.E. Anar Imanov, speaks about the economic cooperation between the two countries over recent years and what the future holds.

Oil and gas industry in 'bleak' 2014, finds survey

 The UK offshore oil and gas industry has reported its worst annual performance for four decades.

VN vows best conditions for Indian oil and gas firms: PM

Vietnam welcomes and is committed to creating every favourable condition for normal economic cooperation activities between Vietnamese oil and gas companies and their foreign partners, including Indian companies, said PM Nguyen Tan Dung.

Wastewater from energy extraction 'triggers US quake surge'

 Massive injections of wastewater from the oil and gas industry are likely to have triggered a sharp rise in earthquakes in the state of Oklahoma.

Mammoth petrochemical projects make Vietnam feel dizzy

More and more investors have expressed their willingness to set up huge oil refineries in Vietnam.