Vietnamplus

The sharp decrease in world oil price over the past three months is expected to affect Vietnam’s oil export earnings as well as a wide range of socio-economic aspects.

Although Vietnam initially decided to build only three oil refineries, two are about to be built and others are under construction, while several more are awaiting licenses, according to an article published on the English language news portal VietNamNet Bridge on September 9.

Russia’s new Turn East energy policy opens up huge opportunities to exploit Vietnam and Russia’s advantages in the oil and gas field, radio The Voice of Vietnam (VOV) reported, citing a senior Russian official.

Being a dynamic locality with huge economic development potential, Ba Ria - Vung Tau province has made long and firm strides in the industrialisation and modernisation process.

President Truong Tan Sang has praised the efforts of the Vietnam National Oil and Gas Group in fueling national economic development and contributing to fulfilling national defence and external relations tasks.

Igor Soglayev, General Director of Sarvors Company under the Russian Rosneft Oil and Gas Group on November 1 led a delegation on a fact-finding tour to the central province of Binh Dinh to have a better look at the Nhon Hoi Oil Refinery Complex, which will be built in the locality.

Petrol imports have declined in both volume and value, according to the Ministry of Industry and Trade.

Japan's largest oil company, JX Holdings Inc., will take part in two oil refinery projects, with a combined capital of 800 billion JPY (roughly 9 billion USD), that the Vietnam Oil and Gas Group (PetroVietnam) is calling for investment from Japanese firms.

Japan's largest oil company, JX Holdings Inc., will take part in two oil refinery projects, with a combined capital of 800 billion JPY (roughly 9 billion USD), that the Vietnam Oil and Gas Group (PetroVietnam) is calling for investment from Japanese firms.