Challenges ahead for oil industry
Vietnam’s oil industry needs to overcome four big challenges to maintain its position as a leading economic sector.
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Vietnam’s oil industry needs to overcome four big challenges to maintain its position as a leading economic sector.
The recently-established Committee for the Management of State Capital at Enterprises (CMSC) will have a heavy workload to shoulder, needing great efforts exerted to overcome this challenge, according an expert.
Russia currently ranks 22nd among countries and territories investing in Vietnam with total registered capital of nearly 1 billion USD.
The rapid exhaustion of its main oil discoveries is putting PetroVietnam under great pressure to reach its oil exploration and production targets for 2018.
The exchange value of gas and condensate of the Bien Dong 1 project carried by the Bien Dong Petroleum Operating Company (Bien Dong POC) hit 511 million USD in 2017, a rise of eight percent compared to the yearly plan.
Singapore's Keppel Corporation's Offshore & Marine unit (Keppel O&M) has agreed to pay a 422 million USD fine for the US, Brazil and Singapore in bribery probes.
The Vietnam National Oil and Gas Group (PVN) produced 14.27 million tonnes of oil during January-November, exceeding its set plan of 2.6 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.
A joint venture of the PetroVietnam Exploration and Production Corporation, the Groupment Bir Seba, has produced 10 million barrels of oil after 20 months of exploitation in Algeria’s Sahara Desert.
Vietsovpetro, a joint Vietnamese-Russian oil and gas enterprise on May 7 began operating the Tho Trang 03 oil rig (White Rabbit) at well 37P offshore of the southern province of Ba Ria-Vung Tau.
The Vietnam National Oil and Gas Group (PVN) produced about 6.45 million tonnes of crude oil in the first quarter of this year, exceeding its three-month plan by 5 percent.
The most outstanding works of the annual press photography contest titled “Khoanh Khac Vang” (Golden Moment) were awarded at a ceremony in Hanoi on September 15.
An inauguration and handover ceremony was held in the southern province of Ba Ria-Vung Tau on August 12 to launch the Tam Dao 05 offshore oil rig, the largest ever locally manufactured jack-up rig.
The PetroVietnam Drilling and Well Services Corporation (PV Drilling) plans to expand its coverage in rig and drilling related services provision, to Myanmar, Malaysia and the Middle East.
The PetroVietnam Exploration Production Corporation is actively developing a number of gas projects with the aim of extracting the first flows of gas at Su Tu Trang field and at Dai Hung field.
The Vietnam National Oil and Gas Group had a working session with Petronas, the national oil and gas company of Malaysia, to foster the implementation of oil and gas projects between the countries.
A photo exhibition on Vietnam’s seas and archipelagoes is underway in the Polish city of Lodz, providing local visitors an in-depth look at the country’s marine sovereignty.
Vietnamese shares on February 17 fell on both local markets as energy stocks extended losses amid unstable oil prices.
