The Vietnam National Oil and Gas Group (PetroVietnam) surpassed its business targets by 4-16 percent, especially oil exploitation, in the first three months of the year.
VOV.VN - The Vietnam National Oil and Gas Group (PVN) produced about 6.45 million tonnes of crude oil in the first quarter of this year, exceeding its three-month plan by 5 percent.
The Vietnam Oil and Gas Group (PetroVietnam) exploited around 15 million tonnes of oil equivalent in 2016, meeting its annual target, the company said.
In the context of global oversupply and unstable oil prices, oil and gas exports must not be seen as the lifebuoy for the Vietnamese economy.
The Vietnam-Russia Joint Venture Vietsovpetro will exploit an additional 23 oil wells and make upgrade to nine others as part of the efforts to ensure safe exploiting activities and fulfill its set plan.
The Vietnamese Song Thu Company, in co-ordination with the Damen Shipyards Group from the Netherlands, handed over the FCS 5009 ship to Mexico’s Naviera Intergral Company in Danang city on May 18.
Vietnam’s oil reserves are limited, ranking fourth in Southeast Asia, so PetroVietnam will accelerate crude oil exploitation abroad, said the chairman of PetroVietnam’s management board, Dinh La Thang.