Vietnam’s national oil and gas company PetroVietnam has said that its crude oil output is likely to go down sharply in the future due to the difficulties it is facing Continue Reading
PetroVietnam’s joint venture with Venezuela’s state-run oil company PDVSA remains stalled but the Vietnamese company hopes ongoing talks will lead to reactivation of operations, a top executive for the company Continue Reading
PetroVietnam Oil Corp., Vietnam’s sole crude exporter, said it’s in talks to sell as much as 40 percent to strategic investors and expects to narrow down to a list of Continue Reading
Vietnam is seeking about $1.2 billion in overseas loans for its only oil refinery before a share sale in 2017, to increase output and meet demand in one of Southeast Continue Reading
Vietnam’s coal imports surged 141% year on year to 1.31 million mt in July, customs data released Monday showed. Traditionally a coal exporter, Vietnam turned into an importer amid rising Continue Reading
Vietnam’s government on Thursday said it had told China to pull an oil rig from waters between the two countries that haven’t been demarcated and urged Beijing not to drill Continue Reading
Pirates released a Vietnamese oil tanker and its 18 crew members yesterday after siphoning part of its diesel cargo, according to the coast guard. The Sunrise 689, which left Singapore on Oct. 3 before vanishing from radar for five days, was about 70 nautical miles from Hon Khoai off Vietnam’s southern province of Kien Giang, said Dao Van Quang, chairman and chief executive officer of Hai Phong Sea Product Shipbuilding Co., the registered owner. It’s expected to reach Phu Quoc island today, said Rear Admiral Ngo Ngoc Thu, Vietnam Coast Guard’s vice commander. “The waters have never been secure for ships,” Thu said by phone. “In particular, the waters bordering Vietnam and Malaysia are not safe. Although all countries in the region have tried to keep them safe, hijackings still happen.” Ship hijackings are rising in , with at least six cases of coastal seizing of cargoes since April, […]
Vietnam and India have struck a deal to expand oil and gas exploration and production in the South China Sea, despite previous Chinese claims that it violates China’s sovereignty. European Pressphoto Agency HANOI—Vietnam and India agreed Monday to expand cooperation in oil and gas exploration and production in contested waters of the South China Sea, despite previous objections from China. The agreement between ONGC Videsh Ltd. and Vietnam Oil and Gas Group, or PetroVietnam, was among several signed between the two countries in Hanoi Monday as part of a four-day visit to Vietnam by Indian President Pranab Mukherjee. "ONGC has been conducting oil and gas exploration and production in Vietnam for many years, and today’s agreement will pave the way for us to extend our cooperation in other blocks offshore Vietnam," Do Van Hau, PetroVietnam’s chief executive, told The Wall Street Journal. ONGC already has a stake in a […]
Vietnam’s official media reports a request was sent to the Chinese side asking they remove the oil rig positioned in disputed maritime territory. China in early May dispatched an oil rig to waters claimed by both the Chinese and Vietnamese governments. A second rig was reportedly sent to the region last week. Both sides have met in Hanoi to discuss the situation, though each side blames the other for the lingering tensions. The official Vietnam News reported Sunday surveillance vessels were still operating within 10-12 nautical miles of the first rig. "[They] conducted communication actions requesting the Chinese side to withdraw the rig and ships from Vietnamese waters," the Sunday report said. The report said Chinese vessels positioned around the rig fired water cannons and rammed Vietnamese boats in the region, causing "many" injuries. Pro-government China Daily published a Sunday editorial suggesting Vietnam was painting itself as the victim […]
BEIJING (AP) — China said Thursday it is moving a second oil rig closer to Vietnam’s coast, showing its determination to press its territorial claims and continue searching for resources in disputed waters despite a tense confrontation with Vietnam over another oil rig to the south. The 600-meter (1,970-foot) -long rig is being towed southeast of its current position south of Hainan Island and will be in its new location closer to Vietnam by Friday, the Maritime Safety Administration said on its website. It asked vessels in the area to give it a wide berth. Vietnam isn’t expected to react strongly to the placement of the second rig because it lies far to the north of the politically sensitive waters surrounding the Paracel Islands, where ships from the two countries have been ramming each other for more than 40 days near the first oil rig. A Vietnamese Foreign Ministry […]
