PetroVietnam Company News

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Vietnam Gas Supply Crunch Hinges on Geopolitical Interference
Monday, December 14, 2020The development of an LNG-to-power plant near Ho Chi Minh City, above, follows in the footsteps of others investing in the sector in Vietnam.

Vietnam Court Sentences to Death PetroVietnam Ex-Chairman in Mass Trial
Friday, September 29, 2017A court in Vietnam sentenced to death a former chairman of state-run PetroVietnam after finding him guilty in a mass trial of 51 officials and bankers accused of graft and mismanagement that led to losses of $69 million.

Asia Oil Refinery Delays Favor Producer Case for Extending Output Cuts
Monday, May 22, 2017Energy consultants Wood Mackenzie now expect a net refinery capacity addition in Asia of 360,000 bpd, down from a forecast of 450,000 bpd in December.

Vietnam's Sole Refinery Plans to Sell 5-6 Pct Stake in IPO in Q4
Monday, May 22, 2017Vietnam's Dung Quat oil refinery plans to sell a 5-6 percent stake in the company in the fourth quarter of 2017 via an initial public offering (IPO), it said in a statement.

Start-up of Vietnam's Nghi Son Oil Refinery Delayed to 2018
Monday, May 15, 2017The delay of additional fuel supplies in Asia could be good news for refiners, a trader with a North Asian refinery said.

PetroVietnam Says Venezuela Oil Project Still Stalled, Hopes To Reactivate
Wednesday, May 03, 2017PetroVietnam's joint venture with PDVSA remains stalled but the Vietnamese company hopes ongoing talks will lead to reactivation of operations.

Hydrocarbons Encountered at Te Giac Trang Field Offshore Vietnam
Tuesday, December 20, 2016Soco International plc announced Tuesday that 2 infill development wells on the Te Giac Trang field, in Block 16-1 offshore southeast Vietnam, have encountered hydrocarbons.

Russia's Rosneft To Sell 96M Tons Of Crude Oil To Petrovietnam
Friday, September 23, 2016Rosneft signs a contract to supply 96 million tons of crude oil to PV Oil, an affiliate of state oil and gas PetroVietnam, starting next year.

PetroVietnam Posts Revenue of $11.3B in First Seven Months of 2016
Friday, August 12, 2016PetroVietnam posts $11.3 billion in revenue between January and July, with crude oil and natural gas production reaching 10.32 million tons and 231.6 billion cubic feet, respectively.

Maintenance At Malaysia-Vietnam Oilfield To Cut Aug Bunga Crude Exports
Thursday, June 23, 2016A scheduled oilfield maintenance in the joint production area of Malaysia and Vietnam will reduce Bunga crude exports in August.

Gazprom, PetroVietnam to Jointly Develop Oil, Gas Projects
Tuesday, May 17, 2016Gazprom and PetroVietnam sign a deal to jointly develop new oil and gas projects and cooperate on gas-based power generation.

PETRONAS, PetroVietnam Extend PM3CAA PSC in Malaysia-Vietnam Waters to 2027
Tuesday, May 10, 2016PETRONAS and PetroVietnam extend PM3CAA production sharing contract in the overlapping waters between Malaysia and Vietnam for 10 years to 2027.

PetroVietnam Plans to Build Natural Gas Plant in Vietnam
Thursday, March 17, 2016PetroVietnam is planning to build a natural gas processing plant in Quang Nam Province in south central Vietnam as part of a $3.8 billion project.

Rosneft Spuds PLDD-1X Well in Vietnam's Nam Con Son Basin with Hakuryu-5
Wednesday, March 09, 2016Rosneft spuds the PLDD-1X exploration well in Block 06.1 in the Nam Con Son basin, offshore Vietnam with the HAKURYU-5 semisub.

PetroVietnam May Shut Down Fields, Trims Ouput if Oil Prices Dip Further
Wednesday, February 03, 2016PetroVietnam considers shutting down or reducing production at its fields if crude oil prices fall below $30 a barrel.

Mitra Submits Outline Development Plans for 2 Fields Off Vietnam to PVEP
Monday, January 18, 2016Mitra Energy submits Outline Development Plans for Nam Du and U Minh fields offshore Vietnam to PetroVietnam Exploration Production Corp.

Mitra to Submit ODP for Nam Du, U Minh Fields Offshore Vietnam by End 2015
Wednesday, December 02, 2015Malaysia-based Mitra Energy intends to submit to PetroVietnam the development plans for the Nam Du and U Minh fields in Vietnam's offshore Block 46/07 and Block 51, respectively by the end of 2015.

Murphy Studies Options for 2 Wells Off Sarawak, Farms-in to Vietnam Block
Thursday, October 29, 2015Murphy is evaluating development options for the Merapuh 5 and Marakas wells offshore Sarawak, Malaysia, while agreeing to the farm-in for a 35 percent interest in the 15-1/05 Production Sharing Contract off Vietnam.

JOGMEC Provides $45.6M Funding for Idemitsu-Sumitomo's Vietnam Exploration
Friday, August 14, 2015JOGMEC provides $45.6 million in equity financing to Idemitsu and Sumitomo for two exploration blocks offshore Vietnam.

Vietnam Arrests Sacked PetroVietnam Chairman, Post Now Filled by CEO
Wednesday, July 22, 2015The Vietnamese government arrests sacked PetroVietnam's Chairman Nguyen Xuan Son for abuse of power during his stint as CEO of Dai Duong Commercial Bank, a local daily says.

PVEP Song Hong Secures PV Drilling II for Work in Vietnam's Block 103-107
Wednesday, July 15, 2015PV Drilling signs contract to provide jackup PV Drilling II to PVEP Song Hong to drill in Block 103-107 in the Song Hong Basin, offshore Vietnam.

PetroVietnam to Work with Murphy, ExxonMobil on Oil, Gas Projects
Monday, July 13, 2015PetroVietnam is set to work with Murphy Oil and ExxonMobil on local and overseas oil and gas developments, including Block B and Ca Voi Xanh gas projects offshore Vietnam.

PetroVietnam, Gazprom Seal Agreement to Develop 2 Fields in Russia
Tuesday, June 23, 2015PetroVietnam and Gazprom seal agreement for their joint venture company Gazpromviet to explore and develop two oil and gas fields in Russia.

PetroVietnam Completes Acquisition of Chevron's Assets in Vietnam
Thursday, June 18, 2015PetroVietnam completes acquisition of Chevron's assets in Vietnam, giving it ownership of two offshore gas blocks and a stake in a pipeline firm.

PetroVietnam Chairman Meets With KazTransGas General Director
Monday, June 01, 2015PetroVietnam Chairman Nguyen Xuan Son meets with KazTransGas General Director Kairat Sharipbayev, in order to strengthen oil and gas industry relations between Vietnam and Kazakhstan.

Gazprom, PetroVietnam to Work on Pechora Sea Shelf's Upstream Projects
Tuesday, April 07, 2015Gazprom and PetroVietnam sign an agreement to collaborate on upstream oil and gas projects on Russia's Pechora Sea shelf.

Eni, PetroVietnam Ink PSCs for Myanmar's Offshore Blocks MD-2, MD-4
Tuesday, March 31, 2015Eni and partner PetroVietnam ink two production sharing contracts for Blocks MD-2 and MD-4 offshore Myanmar.

Vietnam's PV Drilling Shelves Fleet Expansion, Waits on Market Recovery
Friday, March 06, 2015PV Drilling is putting fleet expansion on hold as operating dayrates soften on lower offshore drilling activity.

Russia's Gazprom Neft Partners With Petrovietnam To Tap Arctic Oil
Tuesday, November 25, 2014Gazprom Neft agrees to develop Russia's Dolginskoye offshore Arctic oil field jointly with Petrovietnam.

PV Shipyard Commences Keel Laying for Tam Dao 05 Jackup in Vung Tau
Tuesday, November 11, 2014Vietsovpetro's $230 million Tam Dao 05 jackup reaches construction milestone with a keel laying ceremony held at PV Shipyard in Vung Tau, Vietnam.

SOCO's Congo Well 'Significantly Exceeds' Expectations in Test
Tuesday, November 04, 2014SOCO International says its Lidongo Marine 101 ST1 exploration well, offshore Congo, 'significantly exceeded' expectations on testing.

Eni Signs PSCs for Exploration Blocks 116, 124 Offshore Vietnam
Tuesday, October 14, 2014Eni signs two production sharing contracts with PetroVietnam for exploration of blocks 116 and 124 offshore Vietnam.

ONGC Videsh, PetroVietnam Ink LOI for Exploration in 2-3 Blocks Off Vietnam
Wednesday, September 17, 2014ONGC Videsh and PetroVietnam ink a Letter of Intent to consider oil and gas exploration in 2-3 blocks located offshore Vietnam.

Rosneft, Petrovietnam To Jointly Work On Shelf Blocks In Pechora Sea
Friday, September 05, 2014Rosneft has agreed to set up a joint venture with Petrovietnam to develop two shelf blocks in the Pechora Sea in the Arctic off northwest Russia.

Basis Point: Petrovietnam Seeking $1.8B Loan for Murphy Oil Malaysia Stake
Thursday, August 21, 2014Petrovietnam is in talks with banks for a seven-year loan of up to $1.8 billion to back its bid to buy a stake in Murphy Oil's Malaysian oil and gas assets, Thomson Reuters publication Basis Point reports, citing sources.

Source: Petrovietnam Eyes Stake in Murphy Oil's Malaysian Assets
Thursday, August 14, 2014Petrovietnam has bid for a stake in Murphy Oil's Malaysian oil and gas assets, challenging other suitors including Mitsubishi and Indian state oil companies, a person with direct knowledge of the plan says.

Eni Signs Agreement to Explore Block 122 in Phu Khanh Basin Off Vietnam
Friday, June 27, 2014Eni signs agreement with PetroVietnam to explore Block 122 in the Phu Khanh Basin, offshore Vietnam.

Sources: PetroVietnam Aims to Double Su Tu Den Crude Output in 4Q
Friday, May 30, 2014PetroVietnam plans to double production of its Su Tu Den crude from current levels to around 80,000 barrels per day (bpd) in the fourth quarter, industry sources with knowledge of the matter say.

Vietnam Says Chinese Offshore Rig is Illegal; China Disagrees
Monday, May 05, 2014Vietnam condemns as illegal the operation of a Chinese deepwater drilling rig in what Vietnam says is its territorial water in the South China Sea and told China's state-run oil company to remove it.

KrisEnergy Acquires 100% Stake in Block 115/09 PSC offshore Vietnam
Friday, March 21, 2014KrisEnergy acquires 100% working interest and operatorship of Block 115/09 production sharing contract in southern Song Hong Basin offshore Vietnam.

Talisman Releases Ocean General After Drilling CD-1X Well off Vietnam
Tuesday, March 18, 2014Pan Pacific Petroleum reports that the Ocean General semisub has been released from drilling operations at CD-1X exploration well in Block 07/03 off Vietnam's Nam Con Song Basin.

Petrovietnam Denies Suspending Venezuela Crude Oil Project
Wednesday, January 15, 2014State oil firm Petrovietnam says it is going ahead with an oil exploration joint venture in Venezuela despite media reports of a suspension.

Report: Petrovietnam, India's ONGC Videsh Sign Oil Exploration Pact
Thursday, November 21, 2013Petrovietnam and the overseas unit of Indian state explorer Oil and Natural Gas Corp have signed a memorandum on joint exploration of crude oil, the Vietnam News Agency reports.

Russia's Gazprom, Rosneft Agree Raft of Energy Deals with Petrovietnam
Tuesday, November 12, 2013Rosneft is to allow Petrovietnam to explore for hydrocarbons in the Pechora Sea after a raft of deals between Russian firms and the Vietnamese state energy company.

Oil, Gas Development in South China Sea Remains on Ice
Wednesday, July 17, 2013Looking back, Rigzone recalls 15 key news stories that have shaped the upstream oil and gas industry.

Drilling Begins at TGT-10X Well in Te Giac Trang Field
Friday, June 21, 2013SOCO reports that drilling has started at the TGT-10X well in the Te Giac Trang field off Vietnam.

Vietnam, China Expand Joint Exploration in Gulf of Tonkin
Thursday, June 20, 2013Vietnam and China extend agreement to jointly explore for oil and gas in the Gulf of Tonkin.

Petrovietnam Signs Myanmar Farm-out Agreement
Tuesday, June 04, 2013Petrovietnam Exploration Production Corporation signs agreement to transfer part of its interest in the M2 Mottan Block, offshore Myanmar, to Maurel & Prom.

Vietnam, Russia Sign Production, Exploration Deals
Wednesday, May 15, 2013Vietnam and Russia have signed deals for three oil and gas projects.

PetroVietnam Seeks Partners at Home, Abroad for Oil, Gas Development
Tuesday, May 07, 2013PetroVietnam seeks partners to expand its oil and gas production at home and abroad as the country looks to expand its energy production to meet its growing economy.