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Former Petrovietnam chairman gets another 11 years behind bars

Former Petrovietnam chairman gets another 11 years behind bars

Dinh La Thang, former chairman of state-run Petrovietnam, was sentenced Monday to 11 years in prison for violations related to an ethanol project in northern Vietnam.
Ministry says no to suspension of petroleum imports

Ministry says no to suspension of petroleum imports

The trade ministry has rejected a proposal that Vietnam stops importing petroleum, saying large domestic inventories cannot negate other factors like international commitments.
May 16, 2020 | 02:21 am PT
Vietnam to quarantine 1,300 plus foreign oil experts on arrival

Vietnam to quarantine 1,300 plus foreign oil experts on arrival

The Health Ministry says around 1,330 highly skilled oil industry experts will be quarantined in the coming days as they enter the country.
May 5, 2020 | 06:00 am PT
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).
January 10, 2020 | 09:00 pm PT
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 18, 2019 | 10:58 pm PT
US embargo on Russian contractor delays key power project in Vietnam

US embargo on Russian contractor delays key power project in Vietnam

U.S. sanctions have prevented the Russian contractor of a billion-dollar power plant in southern Vietnam from importing materials to complete construction.
September 28, 2019 | 11:30 pm PT
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 23, 2019 | 08:45 pm PT
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 23, 2019 | 11:27 pm PT
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 19, 2019 | 11:32 pm PT
PetroVietnam assigned $863 mln profit target

PetroVietnam assigned $863 mln profit target

State-owned oil giant PetroVietnam has a profit target of VND20 trillion ($863 million) this year, up 17 percent from last year.
July 14, 2019 | 09:10 pm PT
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 21, 2019 | 07:10 pm PT
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 22, 2019 | 04:38 pm PT
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 16, 2019 | 11:14 pm PT
​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 13, 2019 | 06:24 pm PT
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