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The Vietnam National Coal - Mineral Industries Group (Vinacomin) has published the report on manufacturing and business activities in May and the first five months of 2014.

The Viet Nam National Coal and Mineral Industries Holding Corporation (Vinacomin) has urged members to fully exploit market conditions, as coal consumption in the second quarter could face difficulties.

“Three groups need to develop their key roles in energy development and national energy security,” Minister of Industry and Trade Vu Huy Hoang told a recent conference to review one year of implementing the Strategic Cooperation Partnership between the Vietnam Electricity Group (EVN), the Vietnam National Gas and Oil Group (PVN) and the Vietnam National Coal and Mineral Industries Group (TKV).

The two bauxite projects remain one of the national key projects with the goal of increasing the share of industry in GDP, contributing to ensuring Lam Dong and Dak Nong’s socio-economic development. In the first quarter of this year, the two projects achieved positive results. Deputy Minister of Industry and Trade Do Thang Hai said that the two bauxite projects would bring greater economic efficiency.

According to the Vietnam National Coal-Mineral Industries Holding Corporation Limited (Vinacomin), in the first three months of 2014, crude coal output came to an estimated 10.07 million tonnes, 26.7 percent of the year’s target and 95.92 percent of that in the same period last year. The corporation’s clean coal output was an estimated 8.73 million tonnes, 25.5 percent of the year’s target and 93.3 percent of that in the same period last year.

Gazprom Neft, one of the leading oil producers in Russia, is concluding a deal with a Vietnamese partner acquire a stake at the Dung Quat oil refinery and to modernise the plant.

In the first two months of this year, the coal industry made positive changes. Coal production increased by four percent while consumption reached nearly six million tonnes, positively contributing to completing the industry’s set targets.

By the 24th hour on December 31st, 2013, the production output of Vietnam National Oil and Gas Group (PetroVietnam) had reached 16.71 million tonnes of oil and 9.75 billion m3 of gas.