Joint venture set to commission two oil rigs in Q4

Vietnam-Russia oil and gas joint venture Vietsovpetro is speeding up the building of marine constructions and aiming to put RC-RB1 and RC-10 rigs of the Dragon oilfield into operation in the fourth quarter of this year.
Joint venture set to commission two oil rigs in Q4 ảnh 1Oil rigs in Vietnam (Photo: VNA)

Hanoi (VNA) – Vietnam-Russia oil and gas jointventure Vietsovpetro is speeding up the building of marine constructions andaiming to put RC-RB1 and RC-10 rigs of the Dragon oilfield into operation inthe fourth quarter of this year.

The venture is also preparing for its RC-8 and BK-22 projectswhile awaiting for approval.

Vietsovpetro is assigned to exploit over 2.9 million tonnesof oil equivalent and 65.4 million cu.m of natural gas this year. The operationof the oil rigs as scheduled is hoped to raise the venture’s targetoutput for 2022 and the years to come.

It is also working to improve equipment supply efficiency formarine constructions and bolster inspection to prevent wastefulness.

Joint venture set to commission two oil rigs in Q4 ảnh 2Vietsovpetro engineers work in an oil rig (Photo: Vietnam Oil and Gas Group)

Safety measures are also in place together with theapplication of new technology in a bid to increase oil output and recovery.

Vietsovpetro will build digital transformation plans for the2022-25, adopt measures on human resources management and arrange in-depth trainingto build expert contingent.

The venture is setting up a domestic supply chain for the wind powerindustry to enhance business efficiency as well as create jobs for workers,contributing to Vietnam’s energy transition.

It is planning to seek permission of the Government andrelevant agencies to engage in offshore wind power.

In January, Vietsovpetro’s oil and natural gas outputssurpassed its targets by 3.6 percent and 13.6 percent, respectively./.

VNA

See more

Vietnam will host the 21st Asian-Australasian Association of Animal Production Societies (AAAP) Animal Science Congress (AAAP 21) from October 28 - 31 in Hanoi. (Photo: aaap2026.org)

Vietnam to host 21st AAAP animal science congress

According to the Animal Husbandry Association of Vietnam (AHAV), the event is expected to gather between 1,300 - 1,500 delegates, including around 500 leading international scientists, experts and businesses in the livestock sector.

Yen Huong Xua company introduces solutions to combat counterfeit and imitation goods (Photo: VNA)

Fight against counterfeit goods fostered amid rising digital-era fraud

Dr. Bui Van Quyen, Director of the Anti-Commercial Fraud and Counterfeiting Institute, warned that counterfeit goods have become a global challenge, exacerbated by the rise of online platforms and digital technologies. While these innovations drive economic growth, they also create fertile ground for fraudulent activities.

The fuel storage tank area of the Nghi Son Refinery and Petrochemical Plant is located in the Nghi Son Economic Zone in Nghi Son ward, Thanh Hoa province. (Photo: VNA)

Nghi Son refinery receives over 950,000 barrels of Congo crude oil

Diversifying crude oil supply sources is considered crucial for Nghi Son Refinery and Petrochemical LLC (NSRP) in ensuring stable feedstock supplies and safeguarding domestic fuel supply, particularly as traditional crude imports from Kuwait have been affected by tensions in the Middle East.

Production of electronic components at Star Engineers Vietnam Co., Ltd. in Binh Xuyen I Industrial Park, Phu Tho province (Photo: VNA)

Vietnam looks to expand fiscal space to support double-digit growth

Experts emphasise that fiscal policy should move beyond a supportive role to actively lead growth. Continued and selectively expanded tax and fee reductions could directly ease cost pressures on businesses, enabling them to sustain operations and expand investment.

Ngo Quang Hung, representative of the Vietnam Trade Office in Malaysia, introduces Vietnamese products at the Melaka International Halal Fair, held from May 16-19, 2026. (Photo: VNA)

Vietnam, Malaysia promote smart business connectivity

Malaysia is paying close attention to Vietnam’s Doi Moi (Renewal) reforms, particularly in land policies, rice production technologies and seafood industry development, as both sides seek to expand practical cooperation.

The exchange of greenhouse gas emission quotas and carbon credits is conducted on the domestic carbon credit exchange through the carbon trading system, which is interconnected with the national registration system. (Photo congly.vn)

Ministry establishes monitoring framework for carbon market

Under a new circular, the exchange of greenhouse gas emission quotas and carbon credits is conducted on the domestic carbon credit exchange through the carbon trading system, which is interconnected with the national registration system.

Le Son Phong, Deputy Director of the Da Nang Department of Science and Technology, speaks at the press conference announcing the Da Nang Venture and Angel Summit 2026. (Photo: VNA)

Da Nang to host international venture capital forum later this month

Le Son Phong, Deputy Director of the Da Nang Department of Science and Technology, said DAVAS 2026 is not merely an investment-matching event for startups, but also demonstrates the city’s commitment to promoting innovation, developing the knowledge-based economy and creating a favourable environment for technology enterprises and startups.

Visitors explore southern Vietnam's products (Photo: vNA)

Vietnam, Cambodia boost supply chain connectivity

Total two-way trade neared 10.1 billion USD in 2024, up 17.5% year-on-year and jumping to more than 11 billion USD in 2025. Vietnam’s key exports to Cambodia include apparel, iron and steel, petroleum, machinery and equipment, chemicals, and processed food. Its main imports are cashew nuts, rubber, farm produce, and industrial raw materials.

Cao Thanh Dinh, founder and CEO of ANPz Co., Ltd (All Nippon Partners) in Japan (Photo: VNA)

Resolution 68 boosts investor confidence in Vietnam’s long-term outlook

Cao Thanh Dinh, Founder and CEO of ANPz Co., Ltd (All Nippon Partners) in Japan, said that after one year of implementation, Resolution No. 68-NQ/TW of the Politburo on private sector development has sent a positive signal to investors by affirming the private sector as a key driver of sustainable and long-term development.