Ba Ria-Vung Tau (VNA) – Vietsovpetro, a Vietnam-Russia oil and gas joint venture, cut its production cost of each oil barrel🅺 by 24.3 percent (7.6 USD) to 23.7 USD in 2015.
The figure was announced at a conference to review the firm’s performance this year held in the southern province of Ba Ria-Vung Tau on December 29.
Vietsovpetro expected to exploit 5.2 million tonnes of crude oil and bring ashore more than 1.4 billion cubic metres of gas in 2015, about 2 percent and 23.4 percent higher than the yearly targets, respectively.
Its revenue is estimated at 2.19 billion USD, of which 998.4 million USD will be contributed to the State budget.
The 45 th meeting of Vietsovpetro’s Council earlier this month set a goal for the company to exploit 5 million tonnes of crude oil and bring ashore 1.3 billion cubic metres of gas in 2016.
With an expected oil price of 55 USD per barrel, Vietsovpetro plans to earn about 2.1 billion USD in revenue and contribute roughly half of which or 950 million USD to the State budget.-VNA
The Vietnam-Russia Oil and Gas Joint Venture (Vietsovpetro) extracted 33.6 million tonnes of oil in the period from 2010 to 2015, surpassing the five-year target by 3 percent.
Vietsovpetro, a joint Vietnamese-Russian enterprise for oil and gas exploration, put into operation on December 7 the ThTC-02 oil rig in the Tho Trang (White Rabbit) oil field.
Vietsovpetro, a joint Vietnamese-Russian enterprise for oil and gas exploration, has set to exploit 5 million tonnes of crude oil and put into operation several oil fields in 2016.
A ceremony was held in the southern province of Ba Ria-Vung Tau on December 13 to launch Tam Dao 05 offshore oilrig, the largest ever locally-manufactured jack-up rig.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.
Deputy PM Tran Hong Ha urged countries to work together to remove supply chain bottlenecks, expand market access, strengthen cooperation in smart customs procedures, mutually recognise technical standards, and eliminate unnecessary protectionist barriers to boost trade and investment.
The event has gathered over 400 exhibitors from 16 countries and territories, with more than 980 booths showcasing a wide range of products and technologies in automotive components, electronics, repair and maintenance, bodywork, accessories, and customisation.
The latest order follows Vietjet’s commitment for 20 additional A330neo aircraft last month, bringing the airline’s total widebody aircraft on order to 40.
Minister of Finance Nguyen Van Thang acknowledged the target represents an important milestone for socio-economic development as well as a demonstration of the country’s aspiration for robust economic growth.
The price of E5 RON92 petrol is now capped at 20,631 VND (0.79 USD) per litre, up 1,169 VND from the previous adjustment, while RON95-III costs no more than 21,244 VND per litre, up 1,277 VND.
While German consumers are familiar with Vietnamese products such as coffee, seafood, tea, and spices, many other quality items remain relatively unknown in the market. The Selgros event not only helped introduce Bac Giang lychee to German consumers but also provided them with the opportunity to experience other Vietnamese agricultural products.
The article by Cuba’s Inter Press Service detailed how Vietnamese private enterprise Agri VMA leased 1,000 ha of land in Los Palacios district, Cuba’s westernmost province of Pinar del Río, for rice cultivation over a three-year period. The project’s first harvest in 2025 recorded an impressive yield of 7.2 tonnes per hectare, far exceeding the local average of 1.6 tonnes.
During the visit, office representatives held a working session with the Tipaza Chamber of Commerce and Industry and met with several prominent local businesses operating in key sectors including industry, agriculture, fisheries, food processing, chemicals, pharmaceuticals and plastics.
A Nordic delegation to Vietnam International Sourcing 2025 in September will feature leading names in retail, consumer goods, logistics, and sustainable manufacturing, including global fashion giant H&M, offering fresh prospects for partnerships in fashion, textiles, and green supply chains.
With the current trading band of +/- 5%, the ceiling rate applicable for commercial banks during the day is 26,276 VND/USD and the floor rate 23,774 VND/USD.
Effective from the date of signing on June 18, the decision halts procedures outlined in the 2005 Memorandum of Understanding (MoU) between the governments of Vietnam and Laos on the initial implementation of the Greater Mekong Subregion (GMS) Cross-Border Transport Facilitation Agreement at the Lao Bao–Densavan border gate.
The event aimed to update businesses on new regulations and compliance requirements regarding US tax, trade, and customs policies, while offering practical solutions to facilitate exports amid shifting trade dynamics.
The festival marks a significant milestone in promoting the brand, value, and legacy of traditional fish sauce - a product deeply rooted in the island’s identity and history spanning over 200 years.
An oil field of Vietsovpetro (Source :VNA)
