RSS Feeds for Oil & Gas December 08, 2022 03:31
Vietnam Energy Forum

Ca Tam field exploited oil production of 01 million tons

Ca Tam field exploited oil production of 01 million tons
At 2:15 on October 13, 2021, Ca Tam (Sturgeon) field after exploitation by nearly 2 years and 9 months has reached the oil production of 01 million tons, oil turnover of 427.5 million US$ and budget payment of 169 million US$.
Gas demand for power generation declines

Gas demand for power generation declines

In the first eight months of 2021, gas demand for power generation declined due to the impact of the Covid-19 pandemic that negatively affected state budget revenues and the economy, as well as implementation of the national energy strategy.
The investment management activities of PVN have very positively evolved

The investment management activities of PVN have very positively evolved

Information from the Vietnam Oil and Gas Group (PVN) said: The investment management activities of PVN in recent times had many positive evolutions. Besides putting oil and gas fields into operation as planned, the progress schedules of the power projects (Song Hau 1 – 2x600 MW, Thai Binh 2 – 2x600 MW) were also accelerated.
Petrovietnam seeks creative ways to overcome pandemic, related obstacles

Petrovietnam seeks creative ways to overcome pandemic, related obstacles

The Ministry of Finance recently reported that although revenues from domestic, import and export activities have fallen short of estimated levels, budget revenue from crude oil in the first eight months recorded positive results. At VND25.7 trillion it equaled 111 percent of the estimate, and up 0.9 percent over the same period last year.
AES and PV Gas sign Joint Venture Agreement for Son My LNG Terminal

AES and PV Gas sign Joint Venture Agreement for Son My LNG Terminal

On 22 September 2021, in New York, representatives of The AES Corporation (NYSE: AES) and Petrovietnam Gas JSC (PV Gas) today exchanged the signed joint venture agreement for the Son My LNG terminal, which will be located in Binh Thuan Province in South-Central Vietnam. The terminal will play an important role in accelerating Vietnam’s energy transition and economic growth.
The Chairman of the National Assembly suggested Exxon and PVN to maintain progress for the Blue Whale gas field

The Chairman of the National Assembly suggested Exxon and PVN to maintain progress for the Blue Whale gas field

On the occasion of working with the European Parliament and the Belgium Kingdom, National Assembly Chairman Vuong Dinh Hue received Mr. Perer Lavoy – The Senior Director of the Asia-Pacific region of Exxon Mobil Group (USA) in Belgium. At the meeting with Mr. Perer Lavoy, the National Assembly Chairman acknowledged the efforts of Exxon in implementing the principle assigning on government guarantee and committing for Blue Whale Gas field and suggested Exxon and Vietnam Oil and Gas Group (PVN) continue close coordinating to maintain the timely progress schedule to take the first gas flow from Blue Whale field by 2024.
Strengthening the State Steering Committee for the  key petroleum  projects

Strengthening the State Steering Committee for the key petroleum projects

Prime Minister Pham Minh Chinh has just signed and the Decision No. 1455/QD-TTg, dated September 2, 2021 on strengthening the State Steering Committee for the key petroleum projects.
The Environmental Impact Assessment Report of Bac Lieu LNG PP has been approved

The Environmental Impact Assessment Report of Bac Lieu LNG PP has been approved

The 3,200 MW Bac Lieu LNG Power Project is the largest project with 100% foreign direct investment in the Mekong Delta region. The Environmental Impact Assessment of the project has been approved by the Ministry of Natural Resources and Environment on Sept.01, 2021.
Vietnam - Germany push forward the co-operation in renewable energy field

Vietnam - Germany push forward the co-operation in renewable energy field

Vietnamese Ambassador to Germany, Dr. Nguyen Minh Vu, recently met with Großmann Ingenieur Consult GmbH (GICON®) and the Vietnam Petroleum Institute (VPI) to promote co-operation in the field of renewable energy in Vietnam.
The domestic fields of PVEP were exploited stably with the flows higher than expected

The domestic fields of PVEP were exploited stably with the flows higher than expected

PetroVietnam Exploration Production Corporation (PVEP) informed that in the first 7 months of 2021, the exploitation output of PVEP reached 2.07 million tons of oil equivalence, equal to 104% of the 7 month plan and 62% of the year plan. The production output in 7 months exceeded the plan because of the most of the domestic fields were exploited stably, with the flows higher than expected.
Petrovietnam Chairman of the Board of Directors Hoang Quoc Vuong receives Chairman of Novatek Group

Petrovietnam Chairman of the Board of Directors Hoang Quoc Vuong receives Chairman of Novatek Group

On 3rd August 2021, at the headquarters of Vietnam National Oil and Gas Group (PetroVietnam), Chairman of the Board of Directors Hoang Quoc Vuong had a meeting and worked with Mr. Leonid Mikhelson, Chairman of Novatek Group (Russia).
Vung Tau PV GAS Dock Warehouse: The mark of 20 years of operation and development

Vung Tau PV GAS Dock Warehouse: The mark of 20 years of operation and development

As the largest liquefied petroleum gas (LPG) warehouse in Vietnam, Vung Tau PV GAS Dock Warehouse (VTDW) is an important link in the Bach Ho and Nam Con Son gas chain, supplying 60% LPG output for Vietnam market per year, maintaining domestic LPG trading market share, playing an important role in production and business tasks, and ensuring national energy security of PV GAS. In August 2021, PV GAS will celebrate its 20th anniversary since putting VTDW into commercial operation.
PTSC M&C is second time selected as the EPCI general contractor for the largest oil field in Qatar

PTSC M&C is second time selected as the EPCI general contractor for the largest oil field in Qatar

The Petrovietnam Technical and Services Corporation PTSC Mechanical & Construction (PTSC M&C) Company informed that this company has just received the Letter of handing EPCI General Contractor contract for the third phase of Gallaf project - package 05 (also known as Gallaf Batch 3 EPC 05 project) of North Oil Company (NOC) - a member of the consortium between Qatar National Petroleum Corporation (Qatar Petroleum) and France Total Oil and Gas Corporation. The contract signing ceremony was held in online form on the afternoon of July 29, 2021.
PVN belongs to the group of oil and gas companies with good ROE in the world

PVN belongs to the group of oil and gas companies with good ROE in the world

The Vietnam Oil and Gas Group (PVN) informed that, in the first 6 months of 2021, the pre-tax profit of the group achieved over 3 times higher than the growth rate of oil prices as the average price of crude oil in the first 6 months of the year 66.8 USD/barrel, exceeding the plan price for 48%, while the united pre-tax profit exceeded 165% of the plan. Especially, the PVN return on equity (ROE) in the first 6 months was estimated at 4.6% so PVN belongs to the group of oil and gas companies with good ROE in the world.
Vietnam has received the first refrigerant Liquefied Petroleum Gas shipment from Saudi Arabia

Vietnam has received the first refrigerant Liquefied Petroleum Gas shipment from Saudi Arabia

Right in the first days of June 2021, at PV GAS Vung Tau Port, Ba Ria - Vung Tau, Gas Products Trading Company (PVGas Trading) - a subsidiary of PV GAS has successfully received the first shipment under the refrigerant LPG purchase contract with Saudi Arabian Oil Company (Saudi Aramco supplier). With this shipment, PVGas Trading has become the first direct customer of Saudi Aramco in Vietnam market.
Vietnam's first semi-submersible auxiliary drilling rig went out to sea

Vietnam's first semi-submersible auxiliary drilling rig went out to sea

On the afternoon of May 9, 2021, PetroVietnam Drilling and Well Services Corporation (PV Drilling) officially pulled out to sea the semi-submersible auxiliary drilling rig - PV DRILLING V, preparing for the integration with the drilling rig (DES) in Singapore to serve the drilling campaign of Brunei Shell Petroleum Company Sdn Bhd (BSP) in Brunei, with a term of reliable 6 years and extended 4 years, that expects to be deployed from the third quarter of 2021.
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