Update news petrovietnam

Ocean science takes big step forward in VN with purchase of well-head platform

VietNamNet Bridge - A subsidiary of PetroVietnam, the national oil and gas group, has obtained a contract to export a well head platform (WHP) to Brunei.

Falling crude-oil prices to lead to fewer imports from China: economists

The continued oil price falls will do more good than harm to Vietnam and will lead to a reduction in imports from China, Dr. Luong Van Khoi from the Vietnam National Center for Socio-Economic Forecasting has said.

Falling oil price and impacts on Vietnam’s economy

VietNamNet Bridge – The sharp decrease in world oil price over the past three months is expected to affect Vietnam’s oil export earnings as well as a wide range of socio-economic aspects.

PetroVietnam named Vietnam’s largest enterprise in 2014

 The Vietnam National Gas and Oil Group (PetroVietnam) topped the list of Vietnam’s 500 largest enterprises (VNR500) in 2014, which was released by the Vietnam Report Joint Stock Company (Vietnam Report – VNR) at a ceremony in Hanoi on January 27. 

SOEs told to withdraw VND14.5 trillion this year

 VietNamNet Bridge – Deputy Prime Minister Vu Van Ninh has told State-owned enterprise (SOEs) to divest a total of more than VND14.5 trillion (some US$679.5 million) from non-core business operations this year.

PetroVietnam barred from investing in properties and banks

PM Nguyen Tan Dung last week officially signed a decree forbidding the parent company Vietnam Oil and Gas Group (Petrovietnam) in using its capital to invest and acquire shares in real estate project, banks and insurance companies.

Foreign institutions predict high economic performance for Vietnam in 2015

The most prestigious financial institutions believe that Vietnam's economy will see a strong recovery in 2015 and that the drop in crude oil prices, though lowering revenue for the state, will help foster production and consumption.


Real estate inventory value drops 21.8%; Project supporting wind power use approved; Petrochemical and oil refinery project to start in Binh Dinh; HCM City targets 700 mln USD in investment in IZs

PetroVietnam mulls production cut as oil plunges plunge

 The Vietnam National Oil and Gas Group (PetroVietnam) is considering cutting oil production this year by around 450,000 tonnes in the context of constantly declining global oil prices.


PVN extracts more crude despite falling prices; Standard Chartered issues bonds for Masan; Sacomreal issues shares to raise capital; Government bond yield rises; State fertiliser firm raises $74m in IPO; Debt trading company increases charter capital

Oil & gas shares fall as oil prices fall

VietNamNet Bridge – Oil & gas companies have seen their stock prices plummeting as oil prices have dropped.

PetroVietnam calls for foreign investment in eight power projects

The Vietnam Oil and Gas Group (PetroVietnam) will call for investment in eight power projects with a total capacity of 8,700 MW, including: Vung Ang, Quang Trach 1, Thai Binh 2, Long Phu 1, Song Hau 1, Dakring, Hoa Thang and Blue Whale.

PM vows to back PetroVietnam-Gazprom Neft cooperation

PM Nguyen Tan Dung has told Chairman of the Management Board of Russia’s Gazprom Neft Company A. Dyukov that Vietnam always backs cooperation between the firm and PetroVietnam for mutual benefit.

Lower crude oil prices to challenge Vietnam’s economy

VietNamNet Bridge – Crude oil prices have plummeted recently, affecting revenue for state coffers, which depend heavily on oil and petroleum exports and imports.

Slow site clearance deters investors

VietNamNet Bridge – Land clearance remains one of the biggest obstacles for many big foreign direct investment projects.

Vietnam to build big oil rigs

 VietNamNet Bridge – Vietnam is building a jack-up rig with modern technologies based on a design from American firm Friede & Goldman, which provided the design specifications for the Chinese HD 981 oil rig.


 Malaysia-VN trade to reach $10b; NA urges faster SOE restructuring; Deposit rate cut has little effect; PetroVietnam told to finish refinery plan; Mobile World hits yearly target in 9 months; Mastercard looks at local non-cash payment sector

PetroVietnam overseas investment reaches $2.6bn

VietNamNet Bridge – The Vietnam Oil and Gas Group (PetroVietnam) has invested in 17 overseas projects, mainly in the field of oil and gas exploration, an official has said.


PetroVietnam surpasses goal for 9-month revenue; Belgian sweets maker opens research centre; Ministry backs State funding for Vung Ang EZ; MoF to create 26 investment funds; BIDV announces profits of 200 million USD


 Viettel provides network service in East Timor; Suspension of sugar-cane mills threatens farmers; Anti-dumping measures encouraged; Withdrawal of Japanese investor stalls steel project; Phan Thiet Civilian Airport to be built in BOT model