Petrovietnam

Hanoi (VNA) - The PetroVietnam Exploration Production Corporation (PVEP) has reported an oil equivalent output of 2.01 million tonnes in the first half of 2020, 4 percent higher than its target. The yield fulfilled 53 percent of the goal set for the entire year. Of the total, the production of crude oil/condensate and natural gas stood at 1.42 million tonnes and 589 million cubic metres, 4 and 1 percent higher than targeted, respectively. According to PVEP President & CEO Tran Quoc Viet, despite the high output, falling global oil prices coupled with the COVID-19 pandemic have hindered the company from achieving its financial targets for the period. To meet the yearly goal, PVEP said it will continue optimising exploitation output, cutting cost, enhancing resources’ quality, and applying technologies in production, among others./. … [Read more...] about PVEP’s oil & gas output surpasses six-month target

Hanoi (VNA) - The PetroVietnam Power Corporation (PV Power), a subsidiary of the Vietnam Oil and Gas Group (PetroVietnam), has completed plans for the construction of four liquefied natural gas (LNG)-fired power plants. According to information presented at the company’s annual general meeting of shareholders on June 12, the four projects are the Nhon Trach 3, Nhon Trach 4, Mien Trung 1, and Mien Trung 2 thermal power plants, which will be equipped with mixed-flow gas turbine technology and use LNG. Nhon Trach 3 and Nhon Trach 4 have a capacity of 1,500MW each and are located at the Ong Keo Industrial Park in the southern province of Dong Nai’s Nhon Trach district. They are projected to meet rising power demand in Ho Chi Minh City and Dong Nai and Ba Ria-Vung Tau provinces. Located at the Chu Lai Industrial Zone in the central province of Quang Nam’s Nui Thanh district, Mien Trung 1 and 2 are both expected to have a capacity of 750MW each, with each consuming … [Read more...] about PV Power to build four new LNG-fired plants

Dinh La Thang, former board chairman of the oil giant and a once rising political star, was defending himself in a Hanoi court on Monday facing charges of “deliberately violating state regulations on economic management, causing serious consequences,” which carries a sentence of between 10-20 years in jail. … [Read more...] about Former oil honcho implicates ex-PM in massive Vietnam graft case

The fund on Saturday announced Vietnamese stocks are kept at 15 in the list of 25 investees but total weight of Vietnamese shares fell to 67.48 per cent from 67.98 per cent. … [Read more...] about Local stocks to struggle with increased caution

Other major gainers this session were GAS of energy giant PetroVietnam Gas, up 3.2 percent, PNJ of jewelry retailer Phu Nhuan Jewelry, up 2.4 percent, FPT of IT services giant FPT, up 1.4 percent, and BVH of insurance firm Bao Viet Group, with 1.2 percent. … [Read more...] about VN-Index up in fifth straight session