Nineteen State-owned groups and corporations under the Commission for the Management of State Capital at Enterprises (CMSC) incurred losses worth more than VND3.7 trillion in the first quarter of this year due to the impacts of the COVID-19 pandemic.
State divestment is expected to lure foreign investors into and lift Vietnam’s non-life insurance market.
Demand for investment capital at the Vietnam Oil and Gas Group (PetroVietnam) and its member units for 2018-20 is estimated to reach 620 trillion VND (26.7 billion USD), PetroVietnam Securities Inc (PSI) recently announced.
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.
As State-owned enterprises (SOEs) have many functions in the local economy, they struggle to fulfil their main task of doing business, so they need solutions to improve business efficiency, according to experts.
Fitch assesses the socio-political implications of a PVN default as `Very Strong`. Any disruptions in PVN`s operations would have material implications for the entire energy value chain in Vietnam.
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 Vietnam Oil and Gas Group (PVN) gained 365.5 trillion VND (15.78 billion USD) in revenue in the first half of this year, or 18 percent higher than its six-month plan, heard a conference held by the group on July 17.
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.
More than 2.34 billion shares of the PetroVietnam Power Corporation (PV Power) will be listed on the Ho Chi Minh Stock Exchange (HoSE) under the code POW on January 14, 2019.
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.
Divestment from State-owned enterprises and groups is an inevitable trend brought about as the consequence of rampant investments through “powerful blows” during the years in the late 2000s and early this decade.
Crude oil output reached 7.1 million tonnes in the first six months of this year and in doing so hit 54.3% of the annual target.
The Supreme People’s Court on May 7 began the appeal trial of the case on “asset embezzlement” and “deliberately violating State regulations on economic management, causing severe consequences” at PetroVietnam Construction JSC (PVC), a subsidiary of the national oil and gas giant PetroVietnam (PVN).
Foreign investors can now acquire more than 49% 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 Binh Son Refining and Petrochemical Company (BSR) reported pre-tax profits of VND1.3 trillion (US$57.1 million) in the first quarter of 2018, up 46% compared to the quarterly target.
The jury on January 22 imposed strict penalties on Trinh Xuan Thanh, former Chairman of PetroVietnam (PVN) Construction Joint Stock Corporation (PVC), and his accomplices for their wrongdoings at the corporation.
Former Chairman of PetroVietnam (PVN) Construction Joint Stock Corporation (PVC) Trinh Xuan Thanh on January 22 was sentenced to life imprisonment for his wrongdoings at the corporation.
The Vietnam National Oil and Gas Group (PetroVietnam) is targeting an increase of its oil and gas reserves by 10-15 million tonnes in 2018.