Viet Nam’s oil and gas industry has been a bright spot in the global energy map despite the “double crisis” of a steep decline in oil prices and the COVID-19 pandemic which has engulfed the global oil and gas industry since the beginning of this year.
The increasing American investment in Vietnam’s energy sector is a win-win proposition for both countries.
Consistent with a solution package for overcoming the double crisis of decreasing demand and falling oil prices, Vietnam Oil and Gas Group achieved 7.76 million tonnes of oil and gas in the first eight months of this year, exceeding its plan by 8.2 per cent.
The Viet Nam Oil and Gas Group (PVN) needs to master oil and gas exploration and exploitation at home and abroad to help ensure national energy security and be an economic leader in the country, Deputy Prime Minister Truong Hoa Binh has said.
A 400MW heavy fuel oil power facility in Kandal province’s eastern Lvea Em district will be fully operational in November, Ministry of Mines and Energy senior official Victor Jona said on Wednesday.
The Vietnam Oil and Gas Group (PetroVietnam) has reported an oil equivalent output of 7.76 million tonnes in the first eight months of this year, 8.2 per cent higher than the set target.
Over its 45 years of development, state-run PetroVietnam has built and developed a complete and synchronous oil and gas industry, playing an important role in Vietnam’s economic development and actively participating in the protection of the national sovereignty.
Shares of Tuong An Vegetable Oil Joint Stock Company have soared nearly 68 per cent in two trading weeks after the company announced high cash dividend rate.