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Petrovietnam profits drop despite revenue surge

Petrovietnam profits drop despite revenue surge

State-owned oil giant Petrovietnam saw consolidated pre-tax profits fall 13.4 percent year-on-year to VND43.8 trillion ($1.89 billion).
Former deputy director of Petroland declared a fugitive

Former deputy director of Petroland declared a fugitive

The former deputy director of Petroland is absconding and wanted for questioning for actions causing losses of VND100 billion ($4.3 million).
December 14, 2019 | 01:58 pm GMT+7
Overseas investments by Vietnam SOEs suffer increasing losses

Overseas investments by Vietnam SOEs suffer increasing losses

Overseas investment projects of Vietnamese state-owned enterprises made losses of $367 million in 2018, up 265 percent year-on-year, a government report said.
October 19, 2019 | 01:58 pm GMT+7
Foreign companies continue to lead efficiency stakes in Vietnam

Foreign companies continue to lead efficiency stakes in Vietnam

A report on Vietnam’s 500 most profitable companies has found foreign enterprises have better profitability ratios than state and local private firms.
September 27, 2019 | 06:33 pm GMT+7
Construction of Vietnam's first LNG terminal to begin next month

Construction of Vietnam's first LNG terminal to begin next month

State-run PetroVietnam Gas Corporation (PV Gas) and its partners plan to start construction of the country’s first LNG terminal in southern Vietnam next month.
September 24, 2019 | 11:45 am GMT+7
PetroVietnam seeks resumption of suspended thermal power project

PetroVietnam seeks resumption of suspended thermal power project

PetroVietnam is seeking permission to restart work on a coal-fired power plant which was suspended following the arrest of officials for wrongdoing.
July 24, 2019 | 02:27 pm GMT+7
Declining investment limits Vietnam’s oil and gas industry

Declining investment limits Vietnam’s oil and gas industry

Declining investment, dwindling reserves, high taxes and red tape are combining to limit Vietnam’s oil and gas industry.
July 20, 2019 | 02:32 pm GMT+7
Three Vietnamese firms among Asia’s top 100 power performers

Three Vietnamese firms among Asia’s top 100 power performers

Five Vietnamese firms are among Asia’s 300 biggest and fastest and three of them are in the top 100.
July 14, 2019 | 09:04 am GMT+7
PetroVietnam subsidiaries told not to close OceanBank deposits

PetroVietnam subsidiaries told not to close OceanBank deposits

Several PetroVietnam subsidiaries are struggling to maintain cash flow after being told not to withdraw their deposits with the ailing OceanBank.
May 22, 2019 | 10:10 am GMT+7
Vietnam authorities to assess Thai petrochemical plant for license

Vietnam authorities to assess Thai petrochemical plant for license

Vietnam is considering giving fresh permission to Thai conglomerate Siam Cement Group for a long-delayed giant petrochemical complex.
March 27, 2019 | 09:06 am GMT+7
Ministry of Finance cracks the whip on PetroVietnam divestment

Ministry of Finance cracks the whip on PetroVietnam divestment

The Ministry of Finance has reiterated that the loss-making oil and gas group PetroVietnam has to divest from non-core sectors. 
March 23, 2019 | 07:38 am GMT+7
PetroVietnam's troubled billion-dollar investment in Venezuela probed

PetroVietnam's troubled billion-dollar investment in Venezuela probed

The Ministry of Public Security's Investigation Agency is investigating possible fraud by PetroVietnam in its Venezuelan oil exploration and production project.
March 17, 2019 | 02:14 pm GMT+7
PetroVietnam risks losing hundreds of millions of dollars invested abroad

PetroVietnam risks losing hundreds of millions of dollars invested abroad

Eleven of PetroVietnam’s 13 foreign oil and gas exploration and extraction projects are at risk of losing their investment.
March 16, 2019 | 08:32 pm GMT+7
​Vietnam’s top oil executive seeks to resign

​Vietnam’s top oil executive seeks to resign

PetroVietnam's board of directors has received a resignation letter submitted by the state-owned group's general director Nguyen Vu Truong Son.
March 14, 2019 | 09:24 am GMT+7
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