The Hanoitimes - The major offshore gas projects are important to the country`s economic growth. ExxonMobil proceeds with offshore gas project in Vietnam Vietnamese Deputy Prime Minister Trinh Dinh Dung has asked Vietnam National Oil and Gas Group (PetroVietnam) in 2019 to quicken the undertaking of major offshore oil and gas projects which receive dozens of billions of dollars from foreign investors. Deputy PM Trinh Dinh Dung works with PetroVietnam on Feb 11. Photo: Baochinhphu The focus should gear towards the Block B – O Mon, Ca Voi Xanh gas projects, Dung Quat Oil Refinery, gas-fueled power plants of Long Phu and Thai Binh 2, among others, Dung said at the meeting with PetroVietnam on February 11. Part of O Mon gas project. Photo: Nhadautu Block B – O Mon gas project off Vietnam’s southern shore of Kien Giang province with 69.67% stakes held by PetroVietnam, 22.57% stakes by Japanese Mitsui Oil Exploration Co., … [Read more...] about PetroVietnam urged to speed up multi-billion oil & gas projects
Rotational jobs oil gas industry
PVEP: Leading position in oil, gas exploration and exploitation
(VEN) - In the development of the Vietnamese oil and gas industry, the PetroVietnam Exploration Production Corporation (PVEP) is a key unit of the Vietnam Oil and Gas Group (PetroVietnam) in oil and gas exploration and exploitation. On November 27, 1961, the Oil Exploration Expedition (Expedition 36) was established, marking a historic milestone for a period of organized oil and gas exploration and exploitation in the Democratic Republic of Vietnam (Later, the prime minister approved the 27th of November to be the traditional day of the Vietnamese oil and gas industry). Oil and gas exploration and exploitation has officially started. To promote oil and gas exploration and exploitation, the Vietnam Oil and Gas General Department was established on September 3, 1975. At the beginning of 1977, the state approved the form and object of cooperation to carry out negotiations on a number of oil and gas lots with foreign partners who wish to invest in Vietnam. In order to comply with … [Read more...] about PVEP: Leading position in oil, gas exploration and exploitation
Producers of oil & gas firms see drop in profits, but distributors’ earnings rise
VietNamNet Bridge - The oil price fluctuations have had a big impact on the business performance of Vietnam’s oil and gas firms. While miners and producers have unsatisfactory business results, distributors have made make fat profits. PV Drilling, which does most of the oil field drilling for PetroVietnam, incurred the loss of VND300 billion in the first half of 2018. PV Drilling’s chair Do Van Khanh said PVD's revenue is composed of unit price multiplied by the number of operation days and the number of drilling rigs. US$1=VND22,000 RELATED NEWS Experts warn about depletion of Vietnam’s largest oil field Oil & gas loses the ‘throne’ as the biggest export item Kim Nam … [Read more...] about Producers of oil & gas firms see drop in profits, but distributors’ earnings rise
Large-cap, oil & gas stocks boost VN-Index
An investor views share prices on electronic boards at Tan Viet Securities Company (Photo: VNA) Hanoi (VNA) – VN-Index rose sharply on May 14, driven by large-cap stocks and oil & gas shares, despite low liquidity and foreign investors’ continued net selling. On the Ho Chi Minh Stock Exchange (HOSE), VN-Index increased by 22.13 points to 1,066.98 points when 171 codes saw price hikes, 122 codes experienced declines and 45 others stayed unchanged. HNX Index on the Hanoi Stock Exchange (HNX) inched up 0.51 point to 123.28 points with 95 codes rising, 72 others falling and the remaining 50 unchanged. In the VN30 basket, measuring the 30 largest stocks by market capitalisation on the HOSE, up to 25 stocks witnessed price increases while only two stocks dropped. [Net sells by foreign investors not a worry: analysts] Oil and gas shares fluctuated in line with global oil prices in the beginning of the week when such stocks as PLX, BSR, POW, PVB, PVS, PVC and PVD ended in … [Read more...] about Large-cap, oil & gas stocks boost VN-Index
Multiple bank CEOs rotate jobs due to lack of qualified candidates
CEOs have rotated between the leading positions of major banks in Vietnam due to the lack of qualified candidates. Last week, An Binh Bank (ABBank) welcomed Duong Thi Mai Hoa to be the new CEO. The lady previously worked as the CEO of Vietnam International Commercial Joint Stock Bank (VIB Bank) and the General Director of Commercial Banks of the Maritime Bank. In March, the board of Nam A Bank approved the resignation of CEO Luong Thi Cam Tu for her “personal reasons.” But by the end of the month, the lady was appointed to be a member in the administrative board of Vietnam Export Import Commercial Joint Stock Bank (Eximbank), where Nam A Bank is currently holding over 20 percent of shares. Just a month before that, Southeast Asia Commercial Joint Stock Bank (SeABank) allowed Nguyen Canh Vinh to resign from the CEO position after only 5 months of sitting on the chair. Vinh previously worked as the deputy general director of Vietnam Technological and Commercial Joint Stock … [Read more...] about Multiple bank CEOs rotate jobs due to lack of qualified candidates