The Vietnam Oil and Gas Group (PetroVietnam) has reported that it has completed the target of 7.99 million tonnes of oil output set for this year, 42 days ahead of schedule.
Harmonious economic and cultural development is the key to the Vietnam Oil and Gas Group (PetroVietnam)'s sustainable growth strategy, constituting its inner strength and brand as well as affirming its position as a strong locomotive and a pioneer in the national economy.
The Vietnam Oil and Gas Group (PetroVietnam) and the Asian Development Bank (ADB) on November 18 signed a Memorandum of Understanding (MOU) on establishing a strategic partnership for 2021 – 2024 to promote clean and renewable energy development, and help PetroVietnam achieve targets in green energy transition.
In the context of declining oil and gas output, one of the tasks for the Vietnam Oil and Gas Group (PetroVietnam) is to seek and implement solutions to optimise resources at oil lots and fields.
The Vietnam Oil and Gas Group (PetroVietnam) contributed 75.4 trillion VND (3.32 billion USD) to the State budget in the first 10 months of this year, up 23 percent from the same period last year and 21 percent higher than the yearly plan.
Since 2015, Vietnam has seen consecutive declines in oil and gas output and exploitation plan. What're reasons behind the situation and solutions to the problem?
Despite the recovery of petrol prices, profits of many businesses in the oil and gas sector dropped in the third quarter of this year due to impacts of the COVID-19 pandemic.
Hai Long Offshore Wind Power has signed a preferred supplier agreement with a Vietnamese consortium led by Semco Maritime A/S of Denmark and PetroVietnam Technical Services Corporation Mechanical & Construction (PTSC M&C) of Vietnam to construct two offshore substations off the coast of Chinese Taiwan.
The Vietnam Oil and Gas Group (PetroVietnam) has surpassed important business and financial targets set for the first nine months of 2021, with its contribution to the State budget fulfiling the yearly plan.
Bien Dong Petroleum Operating Company (Biendong POC) has produced 15 billion cu.m of gas since its Hai Thach and Moc Tinh gas fields were put into operation in September 2013.
Vietnam will work to create an open and transparent business environment and offer favourable conditions for US investment projects in the country, said Minister of Industry and Trade Nguyen Hong Dien.
Fitch Ratings has assessed the Vietnam Oil and Gas Group (PetroVietnam)'s Standalone Credit Profile (SCP) at 'BB+', reflecting the company's conservative financial profile, diversification and integration.
Despite impacts of COVID-19, the Vietnam Oil and Gas Group (Petrovietnam) fundamentally fulfilled its set targets in the first eight months of this year.
The PetroVietnam Drilling and Well Services Corporation (PVD) will supply drilling service using the PV Drilling VI jackup rig to the Thang Long Joint Operating Company (JOC).
The PetroVietnam Exploration Production Corporation (PVEP), has surpassed all of its business goals, with the contribution to the State Budget 7 percent higher than the year’s plan.
The Vietnam Oil and Gas Group (PetroVietnam) reported that its pre-tax profit in the first eight months of the year surpassed the set plan by 177 percent and tripled the figure for the same period last year, reaching 30.2 trillion VND (1.32 billion USD).
With the goal of helping to guarantee national energy security and in response to a downward trend in oil and gas extraction output, the Vietnam Oil and Gas Group (PetroVietnam) has identified the research and assessment of its opportunities in developing the hydrogen industry, including producing “green” hydrogen and exploring natural hydrogen sources, as a crucial task.
The Vietnam Oil and Gas Group (PetroVietnam) has been reviewing legal regulations to identify any obstacles to its operations and propose settlement recommendations.
The Vietnam Oil and Gas Group (PetroVietnam) has donated 200 high-function ventilators and medical supplies to the Ministry of Health to support the treatment of severe COVID-19 patients, thus contributing to the protection of people's health.
The Ministry of Health on August 20 received 200 high-flow ventilators donated by the Vietnam Oil and Gas Group (PetroVietnam) to support southern localities in treating COVID-19 patients.
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