Update news petrovietnam

Oil & gas sector bears double effects from Covid-19, oil price plunges

With the oil price falling to $30-35 per barrel, the national oil and gas corporation PetroVietnam will lose $3 billion in revenue in 2020.

Ex-PetroVietnam Chairman to be prosecuted for violations in Phu Tho ethanol case

The Security Investigation Agency has proposed prosecuting Dinh La Thang, former Chairman of PetroVietnam on charges of violating regulations on construction works, causing serious consequences at the Petrochemical and Bio-Fuel JSC.

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-Russia cooperation in oil and gas: great opportunities ahead

With the support of the two governments, Vietnam’s oil and gas industry is expected to continue developing strongly.

How wide will Vietnam open its petroleum distribution market?

Experts believe that the opening of the petroleum distribution market at a certain level will help the market operate better.

PVN records revenue of $31.7b in 2019

The Viet Nam Oil and Gas Group (PVN) earned revenue of more than VND736 trillion (US$31.7 billion) in 2019, marking a year-on-year increase of 17 per cent.


Japanese company buys stakes in Vietnamese gas firm

Saibu Gas of Japan reached an agreement to obtain a 21-percent stake in the PetroVietnam Low Pressure Gas Distribution JSC (PVGD) – a subsidiary of the Vietnam Oil and Gas Group (PetroVietnam).

Vietnam holds 20% of Southeast Asia’s oil exploration and production market

Vietnam is forecast to add two more jack-up rigs, as demand for oil exploration and production continues to rise.

PetroVietnam makes $27b in January-October period

Total revenue of the Vietnam Oil and Gas Group (PetroVietnam) reached VNĐ627.74 trillion (US$27 billion) in the first 10 months of this year, 10.4...

PetroVietnam tops list of most profitable firms

The Vietnam Report JSC and online newspaper VietNamNet held a ceremony in Hanoi on November 6 to announce the Profit500 2019 list.

Vietnam approves US$1.56 billion power projects using ExxonMobil-exploited gas

State-run Vietnam Electricity (EVN) will be the investor of the projects which are expected to be kicked off in early 2021.

PetroVietnam becomes most profitable corporation in Vietnam

Reporting 50.6 trillion VND (2.17 billion USD) in before-tax profit in 2018, the Vietnam Oil and Gas Group (PetroVietnam) has become the most profitable corporation in the country.


Fitch Ratings assigns PetroVietnam at ‘BB’ for first time

Fitch Ratings has assigned the Vietnam Oil and Gas Group's (PetroVietnam) first-time long-term foreign-currency issuer default rating (IDR) at 'BB' with a positive outlook.


PetroVietnam seeks resumption of suspended thermal power project

The Vietnam Oil and Gas Group (PetroVietnam) is seeking permission to restart work on the Thai Binh 2 Thermal Power Plant which was suspended following the arrest of related officials for wrongdoings.


Korea Eximbank opens 2 billion USD credit line to PetroVietnam

The Export-Import Bank of Korea (Korea Eximbank) has said that it has agreed to open a 2 billion USD credit line to Vietnam’s PetroVietnam in a bid to help more Korean companies venture into the fast-growing economy.


Vietnam prepares for competitive electricity market by 2021

Not much work has been done to prepare for the opening of the competitive retail market, slated for 2021. Under the PM Decision released in October 2013, the competitive electricity market will take shape in a 3-stage roadmap.

Thermopower plants in coal mining area hungry for coal

Many thermopower and cement plants in Hai Phong and Quang Ninh do not have enough coal to operate.

PetroVietnam faces unprofitable oil projects overseas

The national oil and gas group PetroVietnam is taking necessary steps to recover the investment capital in unprofitable projects overseas, estimated at $800 million.

PetroVietnam's CEO allowed to resign

The police earlier this year initiated an investigation into a loss-making oil exploration project in Venezuela, which was carried out by PVEP from 2010 when Son was PVEP`s CEO.

Billion-dollar projects remain as oil & gas group could lose big money

VietNamNet Bridge - Of 13 outward investment projects, only two projects of PetroVietnam are profitable. The other 11 projects are meeting big problems.