• 4 minutes Why Trump Is Right to Re-Open the Economy
  • 7 minutes Did Trump start the oil price war?
  • 11 minutes Covid-19 logarithmic growth
  • 15 minutes Charts of COVID-19 Fatality Rate by Age and Sex
  • 18 minutes China Takes Axe To Alternative Energy Funding, Slashing Subsidies For Solar And Wind
  • 6 hours How to Create a Pandemic
  • 44 mins KSA taking Missiles from ?
  • 4 hours There are 4 major mfg of hydroxychloroquine in the world. China, Germany, India and Israel. Germany and India are hoarding production and blocked exports to the United States. China not shipping any , don't know their policy.
  • 1 hour A New Solar-Panel Plant Could Have Capacity to Meet Half of Global Demand
  • 37 mins Which producers will shut in first?
  • 25 mins TRUMP pushing Hydroxychloroquine + Zpak therapy forward despite FDA conservative approach. As he reasons, "What have we got to lose ?"
  • 12 hours Trump eyes massive expulsion of suspected Chinese spies
  • 3 hours Breaking News - Strategic Strikes on Chinese Troll Farms
  • 19 mins Eight Billion Dollars Wasted on Nuclear Storage Plant
  • 12 hours Today 127 new cases in US, 99 in China, 778 in Italy
  • 15 hours Western Canadian Select selling for $6.48 bbl. Enbridge charges between $7 to $9 bbl to ship to the GOM refineries.
  • 13 hours America’s Corona Tsar, Andrew Fauci, Concedes Covid-19 May Be Just a Bad Flu With a Fatality Rate of 0.1%
The Complete History Of Fossil Fuels

The Complete History Of Fossil Fuels

From coal to natural gas…

Prepare For The Next Wave Of Oil Bankruptcies

Prepare For The Next Wave Of Oil Bankruptcies

As debt continues to mount…

Vietnamese Five-Year Plan Envisages Dynamic Growth for PetroVietnam

Vietnamese Five-Year Plan Envisages Dynamic Growth for PetroVietnam

Vietnamese Prime Minister Nguyen Tan Dung has approved a new national Five-Year Plan emphasizing PetroVietnam increased production.

The new governmental dictates provide for the state-owned Vietnam Oil and Gas Group (PVN), more commonly known as PetroVietnam, to increase production by up to 20 percent a year.

These new government production figures for PetroVietnam would boost output to oil and gas reserves and petroleum exploration output by 35-40 million tons and 23-34 million tons of oil per year, according to VietnamPlus news agency.

Should the government mandated targets be achieved, then by 2015 PetroVietnam would be producing 16-17 million tons of refined oil annually, meeting 50-60 percent of domestic gasoline consumption as well as producing 60-70 percent of the country’s nitrogenous fertilizer requirements.

PetroVietnam has expanded beyond domestic production and now carries out exploration activities in Malaysia, Indonesia, Mongolia and Algeria, and produces oil in both Iraq and Malaysia. Moving further into foreign markets where the company has not previously had a presence, on 18 August Bolivian state oil and gas company YPFB announced that it had signed an agreement with PetroVietnam to conduct preliminary studies for natural gas exploration in the Andean nation. Overseas companies exploring for national gas in Bolivia drill under "service provider" contracts.

By. Charles Kennedy, Deputy Editor OilPrice.com



Join the discussion | Back to homepage




Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News