Vietnamplus

Fitch Ratings has revised the outlook for the Vietnam Oil and Gas Group (PetroVietnam) to “positive” from “stable”.

Fitch Ratings has revised the outlook for the Vietnam Oil and Gas Group (PetroVietnam) to “positive” from “stable”.

The Vietnam Oil and Gas Group (PetroVietnam) contributed more than 19.02 trillion VND (823.7 million USD) to the State budget in the first three months of 2021, a 3 percent increase against the same period last year and 18 percent higher than its quarterly plan.

The PetroVietnam Exploration Production Corporation (PVEP), a subsidiary of the Vietnam Oil and Gas Group (PetroVietnam), has surpassed all of its business goals in the first quarter of 2021, with contribution to the State Budget particularly 41 percent higher than the year’s plan.

Former Chairman of the Board of Directors of the Vietnam National Oil and Gas Group (PetroVietnam) Dinh La Thang was sentenced to 11 years in prison, during a trial on the case of violating regulations on investment in construction works, causing serious consequences at an ethanol plant in the northern province of Phu Tho on March 15.

A plan is being devised to develop large-scale State-owned enterprises (SoEs), especially multi-ownership ones, to promote their role in paving the way for and guiding businesses in other economic sectors.

A prison term from 12 to 13 years has been proposed for former Chairman of the Board of Directors of the Vietnam National Oil and Gas Group (PetroVietnam) Dinh La Thang, during an ongoing trial on the case of violating regulations on investment in construction works, causing serious consequences at an ethanol plant in the northern province of Phu Tho.

The People’s Court of Hanoi on March 8 opened a first-instance trial of the case of violating regulations on investment in construction works, causing serious consequences at the Phu Tho ethanol plant in the northern province of the same name.

The Vietnam Oil and Gas Group (PetroVietnam) has maintained its good production and business, with many targets overfulfilled, during the first two months of this year.

Thirty-one lawyers have registered to protect 12 defendants involved in the case of violations of regulations on investment in construction works, causing serious consequences, at an ethanol plant in the northern province of Phu Tho, for which a 10-day trial will be opened by the People’s Court of Hanoi on March 8.

Prime Minister Nguyen Xuan Phuc has affirmed the significant role played by the Vietnam Bank for Social Policies (VBSP) in the country’s poverty alleviation efforts.

PetroVietnam Power Corporation (PV Power) earned 2.5 trillion VND (108 million USD) in revenue in the first month of this year.

The Vietnam Oil and Gas Group (PetroVietnam) and the Shinkong Synthetic Fibers Corporation (SSFC) – an affiliate of Taiwan (China)’s Shin Kong Group signed a cooperation agreement via a video conference on February 4.

The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) has agreed to provide 1.5 trillion VND (65.1 million USD) in credit for the PetroVietnam Gas Corporation (PV Gas) to finance the second phase of the adjusted Nam Con Son 2 Gas Pipeline Project.

Fertiliser businesses have been predicted to flourish this year thanks to many positive supporting factors.

Prime Minister Nguyen Xuan Phuc on January 11 said the Vietnam Oil and Gas Group (PetroVietnam) needs to remain a role model in expanding markets, optimising opportunities, connecting investment, and reviving growth, among other matters.

The PetroVietnam Exploration Production Corporation (PVEP), a subsidiary of the Vietnam Oil and Gas Group (PetroVietnam), had fulfilled its target of exploiting 2.2 million tonnes of crude oil and selling 1.15 million cu.m of gas for the whole year as of December 25.

The Prime Minister recently appointed Hoang Quoc Vuong as Chairman of the Members’ Council of the State-owned Vietnam Oil and Gas Group (PetroVietnam).

The State-owned Vietnam Oil and Gas Group (PetroVietnam) has made it into the top three largest firms in Vietnam this year, the tenth year in a row, according to the latest ranking co-released by Vietnam Report (VNR) and e-newspaper VietNamNet.

Prime Minister Nguyen Xuan Phuc has recently decided to appoint Deputy Minister of Industry and Trade Hoang Quoc Vuong as the new Chairman of the Vietnam National Oil and Gas Group (PetroVietnam).