The success of the August Revolution in 1945 was the first grand victory of the people under the leadership of the Party, creating a breakthrough in Vietnamese history. Over the 77 years since, Vietnam has recorded major achievements and posted strong development, affirming its position and prestige in the international arena.
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.
The Vietnam Oil and Gas Group (PetroVietnam) on May 25 donated 30 billion VND (1.3 million USD) to the COVID-19 response fund to join hands with the nation to fight the pandemic.
LILAMA Corporation will strive to complete the construction of Long Son Petrochemical Refinery Plant project in the southern province of Ba Ria-Vung Tau on schedule so that its commercial operation could begin in late 2022.
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.
Throughout its 45-year history of operation, the Vietnam Oil and Gas Group (PetroVietnam) has faced numerous difficulties and challenges, but with the trust and support of the Party and State, the group has weathered all storms to fulfill its mission and contribute greatly to national socio-economic development.
The efforts of the Vietnam National Oil and Gas Group (PetroVietnam) over the past 45 years have affirmed that "real gold does not fear the test of fire" and its employees will endeavor to make more contributions to the national development.
The southern coastal province of Ba Ria – Vung Tau has exploited its natural beauty and taken advantages of its oil and gas sector for economic development, turning itself into a sustainably developed region in the Southern Focal Economic Zone of Vietnam.
Currently, the oil and gas industry is suffering from the double impact of the Covid-19 epidemic and decline in oil prices that greatly affects the production and business plan in particular and the operation of the Vietnam Oil and Gas Group (PetroVietnam or PVN) in general.
Myanmar's natural gas export hit 3.5 billion USD in the first 11 months of the fiscal year 2018-2019 ending September, according to the Ministry of Commerce.
The Binh Son Refining and Petrochemical Company (BSR), a subsidiary of the Vietnam Oil and Gas Group (PetroVietnam – PVN), grossed over 112 trillion VND (4.83 billion USD) in revenue in 2018 thanks to the production and sale of over 7 million tonnes of its products.
Politburo member and head of the Party Central Committee’s Economic Commission Nguyen Van Binh on January 25 stressed the need to complete institutions for the development of the oil and gas sector.
National Assembly (NA) Chairwoman Nguyen Thi Kim Ngan had a working session with the Vietnam National Oil and Gas Group (PetroVietnam) in Hanoi on January 17, promising to handle difficulties in terms of policies and laws facing this sector.
Prime Minister Nguyen Xuan Phuc attended a meeting of the Vietnam National Oil and Gas Group (PetroVietnam) in Hanoi on January 11, asking the firm to overcome ups and downs to re-establish the sector as a growth engine of the country.
Since the Vietnamese Government and Italian contractor AGIP signed the first production sharing contract in 1978, foreign direct investment (FDI) in the oil and gas sector has not only brought large revenue to the country but also laid important foundations for the sector to develop strongly.
The Vietnam Oil and Gas Group (PetroVietnam) plans to reduce its ownership of PetroVietnam Gas Joint Stock Company (PV Gas) from the current 97 percent to 65 percent.
The oil and gas sector needs to adjust its production and business strategy so that it could compete with foreign rivals locally and internationally, said participants at a seminar in Hanoi on September 26.
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