Dinh La Thang, a Politburo member and Secretary of the Ho Chi Minh City Party Committee, has received an official warning and has no longer been part of the Politburo of the Party Central Committee for his past financial wrongdoings as head of the National Oil and Gas Group (PetroVietnam).
Higher fuel quality requirements have perplexed Vietnam’s major oil refineries.
A gas processing plant in U Minh district of the southernmost province of Ca Mau, designed with a capacity of 6.2 million cubic metres per day, will finish trial operations and begin commercial production in June 2017.
Ho Chi Minh City plans to increase the number of compressed natural gas (CNG) – powered buses with a view of running 841 CNG buses on 39 routes by the end of this year.
A plan of Ho Chi Minh City to treble the number of buses running on compressed natural gas (CNG) by the end of 2017 might be in jeopardy as the CNG price has increased this year and is forecast to edge up further in the coming years.
Permanent members of the Central Steering Committee for Anti-Corruption convened a meeting in Hanoi on April 17 under the chair of Party General Secretary Nguyen Phu Trong, who is also head of the committee.
Petrovietnam Oil (PV Oil) Corp. aims to expand its share of the domestic oil and petrol retail market from 22% to at least 35% by 2020 through mergers and acquisitions transactions.
Prime Minister Nguyen Xuan Phuc asked Thailand’s Siam Cement Group (SCG) to expand investment to more fields in Vietnam while receiving SCG President and CEO Roongrote Rangsiyopash in Hanoi on April 5.
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.
Deputy Prime Minister Trinh Dinh Dung has urged the management board and contractors to accelerate the construction progress and ensure quality of the Long Phu 1 Thermal Power Plant.
PetroVietnam Drilling and Well Services Corporation (PV Drilling) said the significant decrease of crude oil prices caused its revenue to fall sharply last year, leading to record-low after-tax profit of VND120 billion (US$5.26 million), down 14 times against 2015.
Vietnamese Prime Minister Nguyen Xuan Phuc has signed a decision to remove Nguyen Quoc Khanh as chairman of the board of directors of the Vietnam Oil and Gas Group (PetroVietnam) to enable his transfer to the Ministry of Industry and Trade.
The investigative police under the Ministry of Public Security announced on February 16 they had begun criminal proceedings against five people, including four former State officials, for embezzlement in the criminal case at PetroVietnam Construction Corporation (PVC).
The PetroVietnam Gas Corporation (PV Gas) and the PetroVietnam Exploration Production Corporation (PVEP) inked on February 17 an agreement in principle on cooperation in developing phase II of the Su Tu Trang (White Lion) gas field.
Two giant State-owned corporations, Vietnam National Petroleum Group (Petrolimex) and Vietnam Steel Corporation (VNSTEEL), achieved record profits last year, according to a conference held by the Party Organisation of the Central Enterprises Bloc (CEB).
The PetroVietnam Exploration Production Corporation (PVEP) and Landmark Software Services of Halliburton, a US multinational corporation, signed a memorandum of understanding (MoU) on cooperation in oil and gas exploration and exploitation.
The Vietnam National Oil and Gas Group (PetroVietnam) strives to increase oil and gas reserves to 10-15 million tonnes this year, said Chairman of the Board of Directors Nguyen Quoc Khanh.
The Vietnam Oil and Gas Group (PetroVietnam) exploited around 15 million tonnes of oil equivalent in 2016, meeting its annual target, the company said.
Sharply decreasing Liquid Natural Gas (LNG) output and increasing prices of new gas resources are forcing Vietnam to look to increase LNG imports.
State-run Vietnam Oil and Gas Group (PetroVietnam) remains on top of the 500 largest Vietnamese enterprises list (VNR500) in 2016 in terms of revenue.