State group to exploit two new oil & gas wells
The Oil and Gas Group of Vietnam
(PetroVietnam) plans to start exploiting oil and gas from two new sites
by the end of this year to produce enough output to ensure the national
energy security.
The Oil and Gas Group of Vietnam
(PetroVietnam) plans to start exploiting oil and gas from two new sites
by the end of this year to produce enough output to ensure the national
energy security.
According to a recent announcement from the group, it will start the operation of Nam Rong-Doi Moi mine, which is some 135 kilometres off the southern seaport of Vung Tau, and the D30 mine in Malaysia .
PetroVietnam’s output from 11 domestic and 2 overseas oil and gas wells remained stable at 14 million tonnes of crude oil in the last ten months, up 14.1 percent from the same period last year. Together with crude oil, gas exploitation reached 600 million cu.m in October, bringing the total output of gas over the last ten months to 6.3 billion cu.m, up 5.5 percent.
However, the export value of crude oil fell sharply despite an increase of eight percent in the volume because oil prices have slid by two thirds over the last ten months to only 60 USD per barrel.
According to PetroVietnam, the export revenue from crude oil is projected to reach 7.2 billion USD, a 35 percent decrease from 2008./.
According to a recent announcement from the group, it will start the operation of Nam Rong-Doi Moi mine, which is some 135 kilometres off the southern seaport of Vung Tau, and the D30 mine in Malaysia .
PetroVietnam’s output from 11 domestic and 2 overseas oil and gas wells remained stable at 14 million tonnes of crude oil in the last ten months, up 14.1 percent from the same period last year. Together with crude oil, gas exploitation reached 600 million cu.m in October, bringing the total output of gas over the last ten months to 6.3 billion cu.m, up 5.5 percent.
However, the export value of crude oil fell sharply despite an increase of eight percent in the volume because oil prices have slid by two thirds over the last ten months to only 60 USD per barrel.
According to PetroVietnam, the export revenue from crude oil is projected to reach 7.2 billion USD, a 35 percent decrease from 2008./.
You should also see
Investor confidence gains traction on improved business climate
Better investment climate, with simplified administrative producers and special incentives, has helped improve investor confidence, thus catalysing investments from a wider pool of both domestic and international investors for socio-economic development.
See more
Business
Forum seeks to increase PPP investment effectiveness
Investment cooperation in the public-private partnership (PPP) form is seen as a strategic option to mobilise private investment and improve public service delivery. However, the implementation of PPP projects in Vietnam still faces a lot of difficulties and obstacles, leading to a low number of successful projects and making the private economic sector cautious.
Business
Remittance inflows expected to quench real estate sector’s thirst for capital: Experts
Amid a “thirst” for capital of real estate businesses, the strong inflow of remittances is expected to heat up the market again, held insiders.
Business
Dong Nai province ready to ride Japanese investment wave
The southern province of Dong Nai stands ready to prepare the best conditions to welcome investors, especially those from Japan, Secretary of the provincial Party Committee Nguyen Hong Linh said on April 24.
Business
Airlines requested to increase flights during upcoming holiday
The Civil Aviation Authority of Vietnam (CAAV) has asked Vietnam's airlines to consider increasing the number of flights from Hanoi and HCM City to localities on April 27, and from localities back to Hanoi and HCM City on May 1 to meet the demand for air transportation during the April 30 - May 1 holidays.
Business
Tra fish export to UAE jumps 67% in Q1
Vietnam’s tra fish export to the United Arab Emirates (UAE) reached more than 7 million USD in the first quarter of this year, a rise of 67% against the same period last year, according to statistics of the General Department of Customs.
