Business

Petrovietnam leader hosts MOECO President

General Director of the Vietnam Oil and Gas Group (Petrovietnam) Le Ngoc Son had a meeting with President and CEO of Mitsui Oil Exploration Co., Ltd. (MOECO) Harada Hidenori in Hanoi on September 16.

An overview of the meeting (Source: Petrotimes)
An overview of the meeting (Source: Petrotimes)

Hanoi (VNA) – General Director of the Vietnam Oil and Gas Group (Petrovietnam) Le Ngoc Son had a meeting with President and CEO of Mitsui Oil Exploration Co., Ltd. (MOECO) Harada Hidenori in Hanoi on September 16.

Briefing the guest on the progress of the Block B project chain, Son said that the project has seen many positive signs and will be officially launched on September 18.

He said that Petrovietnam has actively cooperated with stakeholders of the project to give proposals to authorised agencies to remove difficulties facing the project.

For his part, Harada thanked Petrovietnam and members of the joint working group for dealing with difficulties and enabling the project to be launched.

He said he hopes in the coming time, Petrovietnam and MOECO will continue to closely coordinate in implementing the Block B project chain as well as seeking and expanding cooperation opportunities to areas of mutual interest.

On the occasion, leaders of Petrovietnam and MOECO discussed the situation of joint projects and shared information on their development orientations in the future.

Son said that Petrovietnam aims to become the leading national industrial and energy group. The firm and its member units are actively considering a number of projects such as those on CO2 capture and storage, and renewable energy projects, he said.

The Petrovietnam leader said he hopes that MOECO, with its experience, will cooperate with Petrovietnam to conduct projects in the coming time on the spirit of friendship and effective collaboration, benefiting both sides.

MOECO is a subsidiary of the Mitsu Group, which operates mainly in the field of oil and gas exploration and exploitation. To date, the company is present in a number of countries including the US, Thailand, Indonesia, Oman, and the UK.

In Vietnam, MOECO is a member of the joint venture of investors in the Block B - O Mon gas project. The Block B gas project chain has a total investment of over 10 billion USD. Natural gas from Block B will be supplied four power plants of O Mon I, II, III and IV over 20 years. When put into operation, these O Mon power plants will generate about 3,800 MW electricity in total, making an important contribution to national energy security./.

#Petrovietnam #Block B project chain #MOECO
Follow VietnamPlus

Post-pandemic recovery

Related News

See more

An overview of the Vietnam-China Green Industry Cooperation and Exchange Programme held in Beijing.(Photo: VNA)

Vietnam, China boost cooperation in green industry development

The Vietnamese Embassy in China, in coordination with the International Cooperation Centre under China’s National Development and Reform Commission (NDRC), on May 18 organised the Vietnam–China Green Industry Cooperation and Exchange Programme in Beijing to strengthen policy exchanges, share experience, and promote substantive cooperation in green industry amid climate change and growing global environmental challenges.

The infrastructure of Thang Long 3 Industrial Park in Phu Tho province is comprehensive and modern, creating favourable conditions for businesses and investors. (Photo: VNA)

Strong economic conglomerates drive domestic economic growth

In manufacturing, THACO has built one of Southeast Asia’s largest automobile and mechanical engineering ecosystems in Quang Nam province, while VinFast has become Vietnam’s first electric vehicle producer, establishing a major factory in Hai Phong, listing on Nasdaq and expanding into North America, Europe and Southeast Asia.

Producing garments for export to the EU market at TDT Thai Nguyen Garment Company. (Photo: VNA)

Vietnam’s textile industry draws high-tech FDI amid green, smart shift

With export turnover rising steadily in recent years and a target of 50 billion USD by 2026, Vietnam remains among the world’s top three textile exporters. Beyond its traditional appeal as a low-cost manufacturing base, the country is now positioning itself as a strategic hub for high-value and technology-driven investment.

An FDI enterprise invests in factory facilities at Chau Duc Industrial Park, a project spanning approximately 2,290 ha. (Photo: VNA)

Ho Chi Minh City targets next-generation, high-value FDI

The southern economic hub attracted nearly 3.3 billion USD in FDI during the first four months of 2026, marking a sharp year-on-year increase of 227.1%. The total included 539 newly licensed projects with registered capital exceeding 791.8 million USD and 58 existing projects adding 259.3 million USD in supplementary investment.

The VinFast electric vehicle charging station at the CT1 apartment complex of 103 Hospital in Hanoi. (Photo: VNA)

Vietnam accelerates drive to master EV technologies

By the end of 2025, Vietnam had established 28 standards and technical regulations related to charging stations, charging equipment and batteries. The legal framework is expected to be fully completed in the third quarter of 2026.

Duyen Hai Wind Power Plant in Truong Long Hoa ward, Vinh Long province. (Photo: VNA)

Energy sector seen as key pillar for Vietnam’s green, double-digit growth ambitions

Chairman of the Vietnam National Industry-Energy Group (Petrovietnam) Le Ngoc Son said Vietnam’s energy demand will continue rising sharply, creating enormous pressure on power generation investment. To sustain GDP growth of around 10%, electricity demand is expected to increase by 12-15% annually, requiring an additional 7,000-8,000 MW of new capacity each year.

A view of the Lien Chieu Container Port construction project in Da Nang city (Photo: VNA)

Logistics set to drive Vietnam’s rise in global supply chains

Amid sweeping restructuring in global trade driven by digitalisation, green transition and geopolitical shifts, logistics is no longer a back-end function. It is increasingly a decisive factor in economic performance, especially as Vietnam deepens integration into international supply chains. The challenge now extends beyond faster delivery to building a modern and interconnected logistics ecosystem capable of organising supply chains at a regional scale.

Coupang.com, one of the Republic of Korea's leading online retail corporations, has actively cooperated with the Vietnamese Embassy in handling issues related to products and items with wrong information of Vietnam. (Screenshot of the site)

Coordinated efforts help safeguard healthy online marketplaces

As the digital environment continues to evolve rapidly, stronger coordination among authorities, platform operators and user communities is becoming increasingly important to build a healthy cyberspace that respects cultural identity while helping reinforce friendship and mutual understanding among people worldwide.

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.