Oil and gas

More than 30 years ago, the Vietnam – Russia joint venture Vietsovpetro had to bring its rig platform from Baku (Azerbaijan) to the offshore of Ba Ria – Vung Tau province for assembly in service of oil and gas exploration and exploitation in Bach Ho oilfield. But now the oil and gas sector has become able to manufacture, install and operate rigs for oil and gas exploration and exploitation on Vietnam’s continental shelf. Besides, many products of the oil and gas mechanic sector have been exported to the world, helping bring foreign hard currencies to the country. … [Read more...] about Oil and gas manufacturing affirms stuff in integration

The list of the proposed gas-to-power projects in Vietnam includes the US’ AES that has invested in the US$2.1 billion Mong Duong 2 thermal power plant in the northern province of Quang Ninh, and looking to invest in the Son My 2 gas-fired power plant in the central province of Binh Thuan. The Son My 1 gas-fired power plant in Binh Thuan is also on the radar of France’s EDF. Meanwhile, Switzerland-based Astra Transcor Energy’s AOT Energy is seeking cooperation with PetroVietnam to build a US$650 million LNG complex. … [Read more...] about Gas-to-power projects attract global energy giants

According to the inspection conclusions, the Government and the then prime minister had drew up solutions for restructuring Vinashin since 2010, including the transfer of some of Vinashin’s enterprises and projects to PVN and Vinalines. Besides, the Government ordered the Finance Ministry to advance VND4.19 trillion to Vinashin using the Central Corporate Restructuring and Supporting Fund so as to help the shipbuilder stabilize its operations and reduce losses. … [Read more...] about Probe into Vinashin losses urged

The Supreme People’s Procuracy recently issued an indictment against the former chairman of Vinashin’s member council, Nguyen Ngoc Su, 62; former general director Truong Van Tuyen, 69; former deputy general director Pham Thanh Son, 57; and ex-chief accountant Tran Duc Chinh, 43. … [Read more...] about Former Vinashin execs prosecuted in OceanBank case

As a means of intensifying economic ties, Romania also pays close attention to ways in which to increase the South East Asian nation’s investment in Romania. Up until October 31, Vietnam’s investment in the Eastern European nation had reached US$4.96 million, ranking 69th among the nations investing in Romania. … [Read more...] about Vietnam, Romania seek to bolster economic ties