Trang chủEnegry News' Vietnam

Vietnam spends $1.8 bln to expand oil refinery Dung Quat next year

Vietnam spends $1.8 bln to expand oil refinery Dung Quat next year

A US$1.8 billion project to expand Dung Quat, Vietnam’s only oil refinery, is expected to start by the first quarter of 2016, its operator has said. Vietnam News Agency on Thursday quoted Dinh Van Ngoc, general director of Binh Son Refining and Petrochemical Company, as saying that his firm has chosen the contractor and would sign a deal with the consultancy later this month. The expansion ...

PetroVietnam exploits first oil flow in Sahara

PetroVietnam exploits first oil flow in Sahara

The oil flow is from the 433a and 416b lots of Bir Sebaar (BRS) oil exploration project, jointly run by PVEP in a venture with Algeria’s SONATRACH and Thailand’s PTTEP. The Vietnamese firm holds a 40 percent stake in the consortium, called Groupment Bir Seba (GBRS), whereas the respective shares of the Algerian and Thai partners are 25 percent and 35 percent. In the ...

Oil giant PetroVietnam in dire need of money to fund investment plan: report

Oil giant PetroVietnam in dire need of money to fund investment plan: report

Vietnam's national gas and oil group, better known as PetroVietnam, has recently forecast a "serious" funding shortfall of about VND70 trillion (US$3.16 billion) to develop government-approved projects over the next five years, news website VnEconomy reported on Thursday. The group was quoted as blaming a two-year-old policy which only allows state-owned enterprises to invest up to 30 percent ...

Petrol price marginally falls

Petrol price marginally falls

The retail prices of 92-octane (92 RON) petrol, and E5 bio-fuel were cut by VND768 (USD0.035) per litre from 3pm today (August 19) according to the Ministry of Industry and Trade (MoIT). The prices of 92 RON, the most popular grade of petrol in Vietnam, fell to VND18,536 (USD0.84) a litre and E5 bio-fuel to VND 18,041 per litre. Diesel and kerosene prices were also cut slightly by ...

VN to exploit oil in Dagestan

VN to exploit oil in Dagestan

VGP – Viet Nam and the Republic of Dagestan agreed to exploit oil in the Caspian Sea, announced Dagestan’s Government Office on August 18. Dagestan’s PM Abdusadam Gamidov yesterday welcomed representatives of the Viet Nam Oil and Gas Group (Petro Viet Nam) to discuss prospects in exploiting oil in the Caspian Sea. A draft agreement on project investment was reached in an earlier ...

H5 platform close to start up on TGT field offshore Vietnam

H5 platform close to start up on TGT field offshore Vietnam

Offshore staff LONDON – Production from the Te Giac Trang field offshore southern Vietnam has been averaging 33,600 boe/d. This is below expectations, according to partner SOCO International, and caused partly by drilling delays. Output may fall further in the current quarter due to the need to shut down the FPSO for hook-up and maintenance related to development of the H5 ...

CRD partners reviewing offshore Vietnam gas options

CRD partners reviewing offshore Vietnam gas options

Offshore staff NORTH SYDNEY, Australia – PanPacific Petroleum has issued an update on development planning for block 07/03 offshore Vietnam. Operator Repsol (Talisman) should finalize plans for the CRD oil and gas discovery in either late 3Q or during 4Q 2015. The preferred remains a tension leg wellhead platform linked to an FPSO, with first oil and gas targeted for the second ...

New oil strategy: Idemitsu broadens business in Vietnam

New oil strategy: Idemitsu broadens business in Vietnam

An atmospheric distillation unit, a key component for oil refineries, arrives at Vietnam's Nghi Son Port. NGHI SON, Vietnam -- Idemitsu Kosan is part of a joint venture constructing a massive oil refinery in Vietnam. For the Japanese partner, building a facility to deal with all aspects of oil distribution, from refining to selling, is a new endeavor. The Nghi Son Refinery is ...

Vietnam's July crude oil output up 14.4% at 1.45 million tonnes: Government

Vietnam's July crude oil output up 14.4% at 1.45 million tonnes: Government

Vietnam produced an estimated 1.45 million tonnes, or 343,000 barrels per day (bpd), of crude oil in July, up 14.4 per cent from the same month last year, the government said on Wednesday. The actual output last month was revised up at 1.47 million tonnes from the initial estimate of 1.45 million tonnes, or a 19.5 per cent increase from June 2014, the General Statistics Office said in its ...

Petrol prices down 816 VND per litre

Petrol prices down 816 VND per litre

Retail petrol prices were revised down 816 VND per litre as of 3 pm on August 4, marking the 13 th price adjustment this year. According to the Ministries of Industry & Trade and Finance, RON 92 petrol will cost no more than 19.304 VND per litre and bio-petrol E5 is set at a maximum of 18.809 VND per litre. Prices of diesel and kerosene went down 819 VND and 638 VND per litre, ...

Vietnam eyes squeezing more oil from aging fields in pursuit of growth - Oil

Vietnam eyes squeezing more oil from aging fields in pursuit of growth - Oil

Vietnam has revised up its crude oil output target for 2015 amid concerns that a production shortfall will slash economic growth, but the potential to lift output may be limited given the country's aging oil fields and low global oil prices. The country's oil ministry in early July said Vietnam will need to produce an extra 1 million mt of crude oil in 2015 -- raising the full-year target to ...

Petrol, oil prices drop

Petrol, oil prices drop

  Gasoline, diesel, kerosene and mazut prices slightly reduced yesterday, announced the Ministry of Industry and Trade and the Ministry of Finance. Ron 92 and ethanol gasoline E5 prices slid by VND331 to VND20,380 and VND20,050 a liter. Diesel and kerosene dropped VND284 and VND221 to VND15,793 and VND14,878 a liter. Mazut oil decreased VND424 to VND12,306 a ...

PetroVietnam earns less over falling oil prices

PetroVietnam earns less over falling oil prices

Despite climbing production indexes, the national oil and gas group PetroVietnam saw its half-year revenue reduce by 8 percent annually due to dropping oil prices. The group’s Vice Director Do Chi Thanh unveiled the information at an online session held by the Ministry of Trade and Industry on July 1. According to Thanh, the group earned 168 trillion VND (7.7 billion USD) ...

Dung Quat Refinery negotiations start

Dung Quat Refinery negotiations start

Binh Son Refining and Petrochemical Company Limited (BSR) has started negotiating with wholesalers over Dung Quat Refinery's fuel products in the second half of this year. The negotiations are held amid high inventory. Dinh Van Ngoc, director of BSR, which is responsible for the management, operation, and business of Dung Quat Refinery, was quoted by Dau Tu (Investment) ...

Total Viet Nam becomes sole owner of Totalgaz Viet Nam

Total Viet Nam becomes sole owner of Totalgaz Viet Nam

  With this transaction, Total will own 100 per cent of Totalgaz Viet Nam, a part of its commitment in investing in the country for the long term. — Photo dddn HCM CITY (Biz Hub) — Oil and gas company Total Viet Nam recently signed a capital transfer agreement to ...