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Completion of institutions needed to develop oil and gas sector

Politburo member and head of the Party Central Committee’s Economic Commission Nguyen Van Binh on January 25 stressed the need to complete institutions for the development of the oil and gas sector.
Completion of institutions needed to develop oil and gas sector ảnh 1Drilling platforms at Bach Ho oil field (Source: VNA)

Hanoi (VNA) – Politburo member and head of the Party CentralCommittee’s Economic Commission Nguyen Van Binh on January 25 stressed the needto complete institutions for the development of the oil and gas sector.

During a workingsession with leading officials of the Vietnam National Oil and Gas Group(PetroVietnam), Binh asked the group to review the implementation of thePolitburo’s Resolution No.41 on orienting the Vietnam Oil and Gas DevelopmentStrategy by 2025 with a vision to 2035 to submit to the Politburo to issue anew resolution so as to cope with challenges and overcome difficulties facingthe group, as well as the entire sector.

For difficulties in dealingwith projects and businesses with bad performances, the group should seek acorrect approach and quickly make proposals towards the promulgation ofspecific policies, he suggested.

After three yearsimplementing Resolution No.41, PetroVietnam has well carried out disseminationsand put forward several action plans and programmes to institutionalize theresolution’s content, he noted.

The group has gainedremarkable achievements in business and production. Restructuring work has metrequirements, and equitisation has been carried out drastically andeffectively, with PetroVietnam Oil Corporation, PetroVietnam Power Corporationand Binh Son Refining and Petrochemical JSC (BSR) equitized in 2018.

To fulfill its settargets for 2019, PetroVietnam is striving to increase oil and gas reserves of10-15 million tonnes of oil equivalent, pump 12.37 million tonnes of oil, and produce1.58 million tonnes of nitrogenous fertiliser, 21.6 billion kWh of electricityand 10.35 million tonnes of gasoline.-VNA
VNA
#Nguyen Van Binh #Party Central Committee’s Economic Commission #Vietnam National Oil and Gas Group #PetroVietnam #Vietnam Oil and Gas Development Strategy #Vietnam #Vietnamplus #Vietnam News Agency
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