The Vietnamese Ministry of Finance said on its website on July 21 that it has issued an official document to request petroleum traders to slacken price hikes to 30 days instead of earlier 10 days in order to curb possibly high CPI and stabilize local market.
The ministry asked for contributions of VND500/liter of gasoline and [...]
The U.S.’s ExxonMobil will start drilling for oil and gas offshore Vietnam by the end of this year, said James W.Sharp, vice president and chief representative of ExxonMobil Exploration and Production Vietnam Ltd.
Last year, ExxonMobil and the state-run Vietnam Oil and Gas Group (PetroVietnam) agreed to cooperate in exploring oil and gas off Vietnam’s central [...]
Thailand-based Rayong Purifier Public Co. Ltd (RPC) on Wednesday signed a memorandum of understanding (MOU) to carry out feasibility study on building a petrochemical plant and a thermoelectric plant in Binh Dinh Province.
Viravat Cholvanich, chair of the Thai firm, and Nguyen Van Thien, chair of the central coast province, signed the MOU in the province’s [...]
The Vietnam National Oil and Gas Group (PetroVietnam) has successfully negotiated with the UK’s BP and Azerbaijan’s SOCAR on the supply of crude oil to Vietnam’s Dung Quat oil refinery.
Under the plan, SOCAR will provide 65,000 cubic meters of crude oil to Dung Quat from mid-August, while BP will supply another 65,000 cubic [...]
Dung Quat Oil Refinery’s polypropylene processing plant last Friday sold the first batch of 100 tonnes of polypropylene to Petrovietnam General Services Joint Stock Corporation (Petrosetco) and Drilling Mud Joint Stock Company (DMC).
The plant, with an original investment of US$234 million, has a design capacity of 150,000 tonnes per year. PetroVietnam will take over the [...]
An iron hand will shape petrol price increases to protect consumers. The time between consecutive petrol price increases has been adjusted to at least 30 days to help stabilise the market, however petrol traders are unhappy.
The Ministry of Finance’s (MoF) Document 8984/BTC-QLG dated July 9, 2010 allows petroleum enterprises to adjust the petrol prices under [...]
The UK’s BP group plans to sell its assets in Vietnam, worth $1.3 billion. The sale has captured special attention from the public. Financial analysts have warned that the Government needs to follow closely every move of the merger and acquisition (M&A) deal.
BP plans to sell is its interest in Lan Tay-Lan Do gas field, [...]
The Finance Ministry has instructed fuel retailers to wait 30 days from their last price rise to raise the cost of petrol and oil.
Previously, they had to wait 10 days.
The instruction, embodied in Official Letter 8984/BTC-QLG, is intended to help curb inflation.
The ministry has also changed the use of its petrol price stabilisation fund so [...]
Energy-hungry India is interested in buying BP’s assets in Vietnam, an Indian government minister said Wednesday, as the country looks to obtain more energy supplies for its fast-growing economy.
“We are trying,” Oil minister Murli Deora told Dow Jones Newswires by telephone from Vietnam.
Deora said Indian state-run firms would hold talks with PetroVietnam — the largest [...]
Six leading local and international banks Wednesday signed a $227 million syndicated loan agreement with Singapore’s PVKEEZ Ltd for financing its floating production, storage and offloading unit (FPSO) to serve Chim Sao field (offshore Vietnam).
Vietn Nam News reporter Thu Ngan spoke with Tony Nguyen managing partner of EPLegal who represents the borrower in this transaction:
EP [...]
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