The Ministry of Industry and Trade (MOIT) has submitted to the Prime Minister (PM) the proposal of equitization plan for Vietnam Oil and Gas Corporation (PV Oil) of Vietnam Oil and Gas Group (PVN).
Recently, at working meeting with Mr. Yota ONO, the Director of National Resources and Environment Department (Ministry of Trade and Industry of Japan) on progress of development of Nghi Son Refinery and Petrochemical Complex Project (Nghi Son Refinery), leaders of Thanh Hoa province asked Idemitsu Kosan Company (Japan) and other constructors to hasten progress of the project.
According to information from Petrovietnam (PVN), November 27, 2017, in Dong Ha city (Quang tri province), PVN mission headed by General director Nguyen Vu Truong Son had a working meeting with Gazprom (Russia) and Quang Tri Provincial People’s Committee (PPC) on perspective of Bao Vang (Gold Panther) gas field. At the meeting, the parties have agreed the roadmap and assigned concrete responsibilities for preparing project investment.
By the Decision No642-QĐ/TW dated 22/12/2017 of the Politburo of Communist Party of Vietnam, Mr. Tran Sy Thanh, the member of Central Committee, Secretary of Lang Son provincial Communist party Committee, Head of the National Assembly delegation of Lang Son will relinquish all the positions in Lang Son province to hold the position of Deputy Head of the Central Economic Commission and Chairman of the Member Council of Vietnam Niational Oil and Gas Group.
At the conference on production and business activities in the first quarter of 2018, Vietnam Oil and Gas Group (PVN) informed that from the beginning of the year, despite facing a lot of difficulties and challenges, the group and its member units have deployed the production and business tasks in an effective and safe way, and achieved positive results. The most production targets have been exceedingly completed by 4-15% over the plan of the first quarter.
According to the report on the results of thrift making and anti-waste in 2017 that PVN sent to the Ministry of Industry and Trade and Ministry of Finance, in 2017 PVN made savings of VND 3,837 billion.
The operator of Vietnam’s only oil refinery is planning to sell a 4 percent stake this November, and expects to raise nearly VND1.93 trillion ($84.8 million) from the offering, Bloomberg reported.
On August 22, 2017 Nghi Son Refinery and Petrochemical Limited Liability Company (RPLLC) received the first batch of Kuwait crude oil of 270 thousand ton (nearly 2 million barrels) from Millennium oil tanker. This crude oil amount will be used for test running of Nghi Sơn Refinery in coming time.
PM Nguyen Xuan Phuc stated that cooperation with Tokyo Gas Co Ltd is very important as oil and gas cooperation is one of the top priorities in Viet Nam-Japan economic ties.
The working group of the Prime Minister headed by the Chairman of Government Office – Minister Mai Tien Dung has just concluded checking results of Petrovietnam. In the conclusion, Minister Dung asked Ministry of Finance to advise the government, Prime Minister to consider a special mechanism on providing guarantee of parent company to the subsidiaries for foreign loans in proportion to PVN capital contribution in Long Son Petrochemical Company Limited to invest Petrochemical Complex in Southern Vietnam.