National Oil and Gas Group (PetroVietnam) has sold the remaining 29 per cent stake in Long Son Petrochemicals project to Thailand-based Siam Cement Group at price of VND2,052 billion or equivalent to $90.3 million.
Nghi Son refinery, Vietnam’s second oil refinery, is ready for commercial start-up from February 28, according to the latest announcement released by the Vietnam National Oil and Gas Group (PetroVietnam).
The equitization plan of three subsidiaries of Vietnam Oil and Gas Group (PetroVietnam), namely Binh Son Refining and Petrochemical Company Limited (BSR), PetroVietnam Oil Corporation (PVOil) and Electricity Corporation Vietnam Petroleum (PV Power), has been approved.
Viettel tops the list while Samsung Electronics Vietnam and Vietnam National Oil and Gas Group (PetroVietnam) rank second and third, respectively, according to the list of 500 most profitable companies in Vietnam in 2017, briefly called Profit500 list just announced.
In the first 9 months of 2017, the crude oil extraction in Vietnam exceeded its plan by 297,000 tons, contributing significantly to the economic growth of the country.
An inappropriate anticipation of the market context has become the main reason that the national oil and gas group PetroVietnam may have to face a payoff.
