PetroVietnam Placed Under Ministry of Industry

The Government of Vietnam has put state-owned PetroVietnam under the control fo the Ministry of Industry in an effort to improve government operations. A government decree was issued Wednesday proclaiming that the Ministry of Industry would now be the state manager for PetroVietnam. According to a government official, the ministry will be responsible for the development of the oil and gas industry, including outlining all strategies for exploration, production and cooperation with foreign firms. The official went on to say that the government has been pursing administrative reforms in all of its divisions and wants to put all state-owned corporations under the ministries' control.