Update news petrovietnam

Petrovietnam announces two new oil and gas fields

The Vietnam Oil and Gas Group (Petrovietnam) on May 6 announced the discovery of two new oil and gas fields, Rong and Bunga Aster, which coincided with the 70th anniversary of the historic Dien Bien Phu Victory (May 7).

PVN seeks credit packages worth over $10.11 billion

Vietnam Oil and Gas Group (PVN) plans to seek credit packages worth about VND250.3 trillion (US$10.11 billion) from now to the end of 2024 to serve its development investment, the company's chairman Le Manh Hung said.

Vietnam Airlines requested to transfer Skypec to Petrovietnam

The Government has just requested the Commission for the Management of State Capital at Enterprises to carry out plans to transfer Vietnam Air Petrol Company (Skypec) from the Vietnam Airlines Corporation to the Vietnam Oil and Gas Group.

PetroVietnam, BSR seek foreign capital for Dung Quat

A delegation of officers from PetroVietnam and Binh Son Oil Refining and Petrochemical JSC has attended a thematic seminar on export funding – TXF Asia 2022 – in Singapore.

Expert backs proposal to invest in refinery complex in Ba Ria-Vung Tau

A proposal by the Vietnam Oil and Gas Group (Petrovietnam) to invest in a petrochemical and refinery complex and national oil storage facility with total investment of nearly 19 billion USD in the southern province of Ba Ria-Vung Tau is a good idea.

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.

Ending monopoly in fuel imports key to boost petroleum market competitiveness: Experts

The participation of new players in the petroleum market would create benefits for businesses and customers.

Vietnam importing more coal & oil

Once a big oil and coal exporter, Vietnam has become an importer of the materials in increasingly high quantities.

Oil fields becoming depleted, difficulties lie ahead

Oil and gas companies are struggling to cope with falling prices, oil field depletion, and difficulties in seeking new fields.

Government names SOEs incurring losses of trillions of VND

The government has sent a report to the National Assembly on investment of state capital in enterprises, and the use of the fund for enterprise support and development in 2019.

Outward investment projects incur losses of over $1 billion

Forty-seven outward investment projects have an accumulated loss of $1.048 billion, according to the government’s report on the financial situation of state-owned enterprises (SOEs) and state-invested enterprises, submitted to the National Assembly.

Vietnam invests $12 billion abroad, telcos earn biggest profits

The total outward investment capital registered so far has reached $12.2 billion. The national oil and gas group PetroVietnam, the mililtary telco Viettel, and the Vietnam Rubber Group (VRG) are the biggest outward investors.

Block 114 – bright spot in offshore exploration

Block 114 is located in Song Hong Basin, offshore Vietnam’s northern continental shelf, about 65km from Quang Tri province, and 86km from Da Nang city in the central region.

Binh Son Refining and Petrochemical files for listing on HNX

The Binh Son Refining and Petrochemical Corporation (BSR) has filed for listing on the Hanoi Stock Exchange, the northern market regulator said on June 2.

Seaport ambitions fail to hold water

Despite some improvements, seaport joint ventures between foreign partners and state-owned shipping giant Vietnam Maritime Corporation continued to incur losses in the first quarter of this year, 

Businesses report big losses, but pharmacies, food companies see profits

The Q1 finance reports released by enterprises in nearly all business fields, from manufacturing and real estate to aviation and oil and gas, show big losses. Large enterprises have reported huge losses of trillions of dong.

Vietnam warned of risks if it buys oil to store

Though domestic petroleum depots are full, the Vietnam Energy Association (VEA)
wants to buy oil to store.

Will Vietnam issue oil bonds?

Some experts have suggested issuing oil bonds to store oil and petroleum products as oil prices now are low.

Historic low oil prices hardly impact Viet Nam's economy at this time

Oil may reach its lowest price in history this week but its impacts on the world economy and Viet Nam have been limited at this time when the COVID-19 pandemic is keeping people at home and transportation has been cut off.


Petroleum prices in Vietnam fall to 11-year low

Petroleum prices in Vietnam were cut from Monday to the lowest level over the past 11 years.