Home Commodities

Vietsovpetro sets crude oil goal for 2015

Jan 15th at 13:31
15-01-2015 13:31:50+07:00

Vietsovpetro sets crude oil goal for 2015

The Viet Nam-Russia Oil and Gas Joint Venture (Vietsovpetro) has set a production plan of exploit 5.1 billion tonnes of crude oil in 2015, grossing a total revenue of US$3.9 billion.

 

To realise this target, Vietsovpetro will work to drastically curtail costs by limiting the leasing of ships, helicopters and oilrigs and increasing their organisation capacity, said Tu Thanh Nghia, General Director of Vietsovpetro.

The venture will push up the installation of underground cable and transformer stations providing electricity to further reduce costs.

In addition, it will enhance scientific and technological application and encourage technical innovations to improve the efficiency of production activities.

bizhub

MOST READ

NEWS SAME CATEGORY

Vietnam’s automotive sales leap 43% in 2014: trade association
COMMODITIES Jan 14th at 14:22

Vietnam’s automotive sales leap 43% in 2014: trade association

Automotive sales in Vietnam reached 157,810 vehicles in 2014, up 43 percent compared to 2013, according to the latest report by the Vietnam Automobile...

Public displeased with MOF’s tariff hike on petrol imports
COMMODITIES Jan 14th at 14:16

Public displeased with MOF’s tariff hike on petrol imports

The Ministry of Finance (MOF) has raised the tariff on petroleum imports twice within one month in an effort to balance state revenue, but experts have disagreed...

Craft export revenue reaches $1.6b
COMMODITIES Jan 14th at 13:36

Craft export revenue reaches $1.6b

Vietnamese handicrafts' 2014 export value reached US$1.6 billion, up 8 per cent year-over-year, the Agro-forestry Processing and Salt Industry Department under the...

Carmakers: HCM City’s quota proposal against auto strategy
COMMODITIES Jan 13th at 14:22

Carmakers: HCM City’s quota proposal against auto strategy

Automobile manufacturers said a new proposal by the HCMC Department of Transport to restrict private car ownership goes against the Government’s strategy to develop...

Viet Nam aims to increase rice exports
COMMODITIES Jan 13th at 13:38

Viet Nam aims to increase rice exports

Viet Nam will focus on Africa, West and South Asian markets to boost rice exports amidst harsh competition anticipated this year, according to the Ministry of...

Sugar, egg imports to rise in 2015
COMMODITIES Jan 13th at 13:28

Sugar, egg imports to rise in 2015

The agriculture and rural development ministry (MARD) has agreed with the industry and trade ministry's (MoIT)'s 2015 quota plan for the import of sugar, salt and...

Vietnam needs to develop a national rice brand
COMMODITIES Jan 12th at 14:19

Vietnam needs to develop a national rice brand

Vietnam was the world’s second-largest rice exporter in the world in 2014, but it is in urgent need of investment to develop a national brand to increase the value...

Cut fertiliser, animal feed prices: Ministry
COMMODITIES Jan 12th at 13:40

Cut fertiliser, animal feed prices: Ministry

The finance ministry has directed the authorities of cities and provinces nationwide to ask enterprises to consider cutting fertiliser and animal feed prices due to...

Steel sector requests Gov't help as it faces another difficult year
COMMODITIES Jan 10th at 16:36

Steel sector requests Gov't help as it faces another difficult year

 The steel sector has sought Government support to overcome the challenges it expects to encounter this year, owing to supply exceeding demand and the growing...

Exporters contract one million tons of rice this year
COMMODITIES Jan 8th at 14:20

Exporters contract one million tons of rice this year

Member enterprises of the Vietnam Food Association (VFA) have already clinched export contracts for at least one million tons of rice with delivery scheduled for...

Read More

Commodity prices

MOST READ

Back To Top