Update news petrovietnam

Oil and gas giants prepare for possible hacker attack

 VietNamNet Bridge – The Ministry of Industry and Trade has asked Vietsovpetro and PetroVietnam to prepare themselves for a possible hacker attack as it is said that international hackers plan to attack the companies’ networks on June 20.

Gazprom, PetroVietnam jointly operate Dung Quat refinery

 Leading Russian energy group Gazprom and leading Vietnamese oil and gas group PetroVietnam have reached an agreement on operating and developing Vietnam’s Dung Quat oil refinery.

PetroVietnam secures oil deal with Russia's Rosneft

 VietNamNet Bridge – Russian firm Rosneft will provide six million tonnes of oil annually via the Kozmino terminal during the 2014-39 period for the Dung Quat Oil Refinery in Viet Nam.

Vietnam backs oil-gas co-operation with US

 VietNamNet Bridge – Viet Nam backed co-operation in the field of oil and gas between US businesses and their Vietnamese partners, President Truong Tan Sang has declared.

Chairs of biggest state-owned groups to be replaced

 VietNamNet Bridge - A number of key leaders of state-owned enterprises will retire this year, according to Deputy Minister of Industry and Trade Do Thang Hai. The appointment of new chairs will be decided by Prime Minister Nguyen Tan Dung.

PetroVietnam demands Chinese oil group stop illegal acts

VietNamNet Bridge – The Vietnam National Oil and Gas Group (PetroVietnam) has voiced vehement protest against the China National Offshore Oil Corporation (CNOOC) for violating Vietnam’s sovereign right and jurisdiction.  

PetroVietnam eyes Itochu stake in $80m ethanol plant

VietNamNet Bridge – PV Oil – the wholly owned subsidiary of the state-run PetroVietnam – recently said it was considering negotiating with Itochu and Licogi 16 to buy out a 71% stake in the joint venture to build an $80 million ethanol factory

Exxon Mobil speeds up major project in Vietnam

VietNamNet Bridge – The US group Exxon Mobil has accelerated the pace of its investment in a 20-billion-USD gas-electricity complex in Vietnam.

PetroVietnam set to buy Chevron gasfield stake

 VietNamNet Bridge – The Vietnamese government recently gave PetroVietnam the go-ahead to buy its US partner Chevron’s 42.38 per cent stake in the $4.3 billion Block B and 48/95 gas projects.

EVN works to reduce losses

 VietNamNet Bridge – Facing capital shortages, Electricity Viet Nam (EVN) has asked national coal group Vinacomin and PetroVietnam to invest in power plants, EVN deputy general director Dinh Quang Tri tells Vnexpress.

PetroVietnam urged to achieve targets

 VietNamNet Bridge – Prime Minister Nguyen Tan Dung has ordered PetroVietnam to accelerate its divestment from non-core businesses this year to make its operations more effective.

Exxon Mobil signs power plant deal with PetroVietnam

 VietNamNet Bridge – Exxon Mobil and Viet Nam National Oil and Gas Group will build a gas and power plant in central Viet Nam to supply gas and power along the East Sea.


 Dairy sector looks to triple cattle population; HCM City petition targets capital transfers; Induction stoves popular as gas prices rise; Cashew exports reach $1.5bn annual target

Vietnam’s 500 largest firms announced

VietNamNet Bridge – The Vietnam National Oil and Gas Group (PetroVietnam) once again tops the list of the 500 largest enterprises in 2013.

Restructuring: Does it really happen?

 VietNamNet Bridge - For years, the word "restructuring" has become so familiar to many people, but not many people have seen the results of restructuring. Experts say that they have just heard about restructuring, not seen it.

PetroVietnam has nearly $300 million stuck in non-core business

The Deputy Director of the Vietnam Oil and Gas Group (PetroVietnam) has said the group’s total investment in non-core fields is about VND5.8 trillion, mainly in banking and finance, insurance and real estate fields.


 PetroVietnam divests on schedule; WB guarantees new Masan loan; Taiwan is top destination for Vietnam labourers abroad; M&A market boasts huge development potential

Vietnam told to beware of the “oil refinery movement”

Ninety percent of the source of income of the Quang Ngai province comes from the Dung Quat Economic Zone which is comprised of an oil refinery. This explains why many other localities in the central region dream of having such refineries.

Experts support USD27-billion oil refinery project

VietNamNet Bridge – Economists and authorities of Binh Dinh Province have supported the implementation of a USD27-billion oil refinery and petrochemical project despite strong opposition from PetroVietnam.

Foreign partner withdraws from bio-fuel project in Binh Phuoc

Chairman of the Vietnam Oil and Gas Group - Phung Dinh Thuc – has said that the Japanese partner in the Binh Phuoc Ethanol Project wants to withdraw from the project, while the group does not want to buy back the shares.