Appeal trial on PVC case: Trinh Xuan Thanh withdraws appeal Society

Appeal trial on PVC case: Trinh Xuan Thanh withdraws appeal

The Supreme People’s Court on May 7 began the appeal trial of the case on “asset embezzlement” and “deliberately violating State regulations on economic management, causing severe consequences” at PetroVietnam Construction JSC (PVC), a subsidiary of the national oil and gas giant PetroVietnam (PVN).
Trial of Trinh Xuan Thanh and accomplices begins in Hanoi Society

Trial of Trinh Xuan Thanh and accomplices begins in Hanoi

The Hanoi People’s Court opened the first instance trial on January 8 for Trinh Xuan Thanh, former Chairman and General Director of PetroVietnam Construction Joint Stock Corporation (PVC), and his accomplices on several charges of wrongdoings at the company.
Former PetroVietnam General Director prosecuted Society

Former PetroVietnam General Director prosecuted

The Investigation Security Agency under the Ministry of Public Security on December 20 began legal proceedings against Phung Dinh Thuc, former General Director of the Vietnam Oil and Gas Group (PetroVietnam).
PVN targets 55 trillion VND profits in 2014 Business

PVN targets 55 trillion VND profits in 2014

The Vietnam National Oil and Gas Group (PetroVietnam) has targeted 55 trillion VND (2.6 billion USD) of its total pre-tax profits this year, 12.4 percent lower than the previous year.
Business

PVN surpasses first half target

PetroVietnam (PVN) has announced a post-tax revenue of 27.5 trillion VND (1.3 billion USD) in the first six months of the year, representing a 53.2 percent year-on-year increase.
PetroVietnam steps up project progress Business

PetroVietnam steps up project progress

PetroVietnam will speed up procedures and arrange capital needed to implement its on-going projects on schedule during the next three months, said PetroVietnam's chairman Phung Dinh Thuc at a press conference in Hanoi on April 5.
Business

PetroVietnam announces divestment moves

PetroVietnam is seeking a merger between its financial arm PetroVietnam Finance Corp (PVFC) and a bank in a bid to facilitate its divestment of capital from the financial company to realise the restructuring scheme.
Business

PetroVietnam told to rearrange operation

Prime Minister Nguyen Tan Dung has ordered State-owned oil and gas giant PetroVietnam to complete its restructuring plan and submit it to the Ministry of Industry and Trade for consideration.
Business

State firms get ultimatum

The Government on July 9 officially promulgated a resolution asking State-owned groups and corporations to complete a capital withdrawal from non-core investments by 2015.