The Nam Con Son 2 gas pipeline project was formally licensed on Tuesday by Ba Ria-Vung Tau Province’s government, marking the start of the country’s biggest project so far in gas transport, treatment and processing. The project worth a hefty VND27.4 trillion, or US$1.3 billion, in registered capital will be developed by PetroVietnam Gas Corporation [...]
Gas prices in Vietnam may rise by VND5,000-6,000 per 12-kg cylinder from the early February 2012 following the suit of higher world gas prices, the local newspaper Nguoi Lao Dong reported. The gas price on the global market has rose by $30/ton from beginning of January to $910-920/ton, forcing the domestic gas suppliers to raise [...]
Shin-Etsu Chemical Co., Ltd. will set up two companies specialising in manufacturing silicone-based materials for high-brightness LED packaging, and refining rare earths, with total investment of ¥5 billion (US$64 million). In its press release, the chemical producer said Shin-Etsu Magnetic Materials Vietnam Co., Ltd. that separates and refines rare earths – the main raw materials of [...]
Vietnam Oil and Gas Group, or PetroVietnam (PVN), will continue to invest in power projects in anticipation of future profits even though Vietnam Electricity (EVN) had owed it a combined 10 trillion dong by October last year. PVN chair Phung Dinh Thuc told the local media early this week that investment in power generation is [...]
TNK-BP, Russia’s third-largest oil producer, started drilling at the Lan Do gas field project in Vietnam’s offshore. The field will start producing in the fourth quarter of this year, with annual output averaging about 2 billion cubic meters of gas, TNK-BP said today in an e-mailed statement. The Lan Do 2P well was spudded on [...]
The National Oil and Gas Group (PetroVietnam) has divested from the construction of Vietnam’s tallest skyscraper, PVN Tower, in Hanoi, said its top leader at a recent press briefing. The national petroleum conglomerate has reported to the government about the divestment, stressing that it is following the government’s directive in withdrawing state capitals from non-core [...]
PetroVietnam Technical Services Corporation (PTSC) unveiled a new company branch on June 16 which specialises in geophysical exploration services for the oil and gas industry. The new branch, a 51 per cent and 49 per cent joint venture between PTSC and CGG Veritas (CGGV), provides 2D&3D (two dimensional and three dimensional) seismic acquisition services. The [...]
Vietnam National Oil and Gas Group or PetroVietnam (PVN) targets to reach total revenue of 660 trillion dong, and oil and gas drilling volume of 24.81 million tons in 2012. Last year the group reported gaining total revenue of 675.3 trillion dong, surpassing 35% of the year’s plan and increasing by 41% year on year. [...]
PV Oil Co., Vietnam’s state-owned oil-marketing company, is said to have sold 1 million barrels of Ruby and Chim Sao crude in four cargoes to BP (BP/) Plc, Royal Dutch Shell Plc (RDSA), Chevron and Petroleo Brasileiro SA, said four traders who participate in the market, declining to be identified because the information is confidential. [...]
PV Oil Co., Vietnam’s state-owned oil marketing company, offered to sell Bunga Orkid crude and Rong Doi condensate for March loading, said three trading sources who participate in the market, declining to be identified because the information is confidential. The details of the offer are as follows: ———————————————————– Crude: Bunga Orkid (Vietnam) Loading: March 4 [...]
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