PetroVietnam seeks resumption of suspended thermal power project

State-owned oil giant PetroVietnam has a profit target of VND20 trillion ($863 million) this year, up 17 percent from last year.

Several PetroVietnam subsidiaries are struggling to maintain cash flow after being told not to withdraw their deposits with the ailing OceanBank.

The Ministry of Finance has reiterated that the loss-making oil and gas group PetroVietnam has to divest from non-core sectors. 

The Ministry of Public Security's Investigation Agency is investigating possible fraud by PetroVietnam in its Venezuelan oil exploration and production project.

PetroVietnam's board of directors has received a resignation letter submitted by the state-owned group's general director Nguyen Vu Truong Son.

Vietnam National Oil and Gas Group has announced its 2018 results, which show it exceeded its revenue and state budget contribution targets.

Dinh La Thang will be investigated for losses incurred by a biofuel plant in the northern province of Phu Tho.

PVN is seeking to withdraw $5.5 million worth of frozen deposits its subsidiaries have in OceanBank to finance its much-delayed Thai Binh 2 plant.

PetroVietnam, a principal investor in Vietnam’s largest oil refinery, said that it is finding it “almost impossible” to comply with new investment capital regulations.

Dinh La Thang claims he is not liable for the $26 million he has been asked to return as a result of losses.

Trinh Xuan Thanh claimed he did not commit embezzlement as convicted by the Hanoi court last month.

Dinh La Thang is facing another 10-20 years in prison for his role in the infamous multi-million-dollar graft case at OceanBank.

Prosecutors have asked for more time to look into one of the companies Trinh Xuan Thanh was involved with.