Six State–owned enterprises (SOEs) with a total State stake of 800 trillion VND (31.5 billion USD) will be transferred back to the Ministry of Industry and Trade (MoIT) after six years under the management of the Commission for the Management of State Capital at Enterprises (CMSC).
In the first nine months of this year, the State budget contribution and the pre-tax profit of the Vietnam Oil and Gas Group (Petrovietnam) exceeded the targets it set for the whole year.
The PetroVietnam Exploration Production Corporation (PVEP) – a subsidiary of the Vietnam Oil and Gas Group (PetroVietnam) - is targeting to exploit 1.8 million tonnes of oil equivalent in the second half of this year, the corporation has announced.
Thanks to a scheme for State-owned enterprise (SOEs) restructuring during 2016-2020, many unprofitable plants have been reinvigorated, according to reports.
Currently, the oil and gas industry is suffering from the double impact of the Covid-19 epidemic and decline in oil prices that greatly affects the production and business plan in particular and the operation of the Vietnam Oil and Gas Group (PetroVietnam or PVN) in general.
The state-owned oil and gas group PetroVietnam (PVN) and its member company, PetroVietnam Gas Corporation (PV Gas) started construction on a liquefied natural gas (LNG) warehouse at Thi Vai Terminal in the southern province of Ba Ria – Vung Tau on October 28.
By now, the PVN has built a modern oil and gas manufacturing industry able to effectively meet the needs for exploration and exploitation in replacement of the products it previously had to import.
The Vietnam Oil and Gas Group (PVN) contributed nearly 60 trillion VND (2.59 billion USD) to the state budget in the first seven months of 2019, 7 percent above its target.
The Japan Bank for International Cooperation (JBIC) is interested in investment plans for energy projects of the Vietnam Electricity (EVN) and Vietnam Oil and Gas Group (PVN), unveiled Kazuhisa Yumikura, Managing Executive Officer and Global Head of Infrastructure and Environment Finance Group at JBIC.
The Vietnam Oil and Gas Group (PVN) has announced it generated a total revenue of 365.5 trillion VND (15.8 billion USD) in the first half of this year, 18 percent higher than the six-month target and equivalent to 60 percent of the yearly goal.
An international workshop on the assessment of shale energy in Asia, under the second phase of the unconventional oil and gas resources project, took place in Hanoi on April 23.
The Vietnam Oil and Gas Group (PVN) returned to the first place in the Profit500 Ranking, a survey on the 500 most profitable companies in Vietnam in 2018.
The Dung Quat Oil Refinery (BSR) in the central province of Quang Ngai, the first oil refinery in the country, has been recognised among the top ten eco-friendly factories in Vietnam this year.
Foreign investors can now acquire more than 49 percent of shares, the previous limit on foreign ownership, in PetroVietnam Fertilizer and Chemicals Corporation (PVFCCo), the operator of Phu My fertilizer plant.
The State-owned Vietnam Oil and Gas Group (PetroVietnam or PVN) has drafted a plan for a comprehensive restructuring until 2025, under which it will continue with large-scale divestment from all of its member corporations and companies.
The Hanoi procuracy on January 11 proposed life imprisonment for Trinh Xuan Thanh, former Chairman of PetroVietnam (PVN) Construction Joint Stock Corporation (PVC) on the charge of “asset embezzlement”.
Trinh Xuan Thanh, former Chairman and General Director of PetroVietnam Construction Joint Stock Corporation (PVC), was questioned at court on January 9.
The court began to question defendants about their specific roles in wrongdoings at the PVC's Thai Binh 2 thermal power project, at the trial that opened on January 8.
