Although Vietnam initially decided to build only three oil refineries, two are about to be built and others are under construction, while several more are awaiting licenses.
Many oil refinery projects have been put forth recently, arousing concerns over a glut in supply as well as potential hazards to the environment caused by production on outdated technology.
PetroVietnam and Rosneft will establish a joint venture company to explore and exploit two oil wells at Pechora Sea, north-west of Russia, which have a combined geological reserve of 1 billion tonnes and a recoverable reserve of...
Central coastal provinces are, to a certain extent, trapped by underdevelopment and poverty as well as poor infrastructure and economic connections, Deputy Prime Minister Nguyen Xuan Phuc told the Central Region Economic Forum on...
The Ministry of Finance (MOF) has unexpectedly agreed to offer attractive investment incentives to the Thai PTT Group, which plans to set up the Nhon Hoi Oil Refinery in Binh Dinh province.
Vietnam continues to sell its high-quality crude oil at high prices and buy crude oil cheaply from other countries for its domestic refinery.
The world's largest oil and gas group Exxonmobil based in the US has moved ahead with its $20 billion gas power project in the provinces of Quang Ngai and Quang Nam, a sign of a new investment wave from the US.
The Dung Quat Oil Refinery needs up to US$2 billion to raise its annual processing capacity from its current 6.
Petrol distributors have raised the petrol prices five times this year. Vietnamese now have to pay VND4,000 higher for every liter of petrol than consumers in the US.
Pham Nhu So, vice chairman of Quang Ngai province, said that Vietnamese officials and representatives of Exxon Mobil Corporation will conduct a survey in the central region to prepare for a $20 billion project to build a...