PVEP’s oil and gas output hits 2.88 mln tonnes in nine months
The PetroVietnam Exploration Production Corporation (PVEP) – a subsidiary of the Vietnam Oil and Gas Group (PetroVietnam) - exploited 2.88 million tonnes of oil equivalent in the first three quarters of this year, surpassing the target by 1 percent.
Hanoi (VNA) - The PetroVietnam Exploration Production Corporation (PVEP) – asubsidiary of the Vietnam Oil and Gas Group (PetroVietnam) - exploited 2.88million tonnes of oil equivalent in the first three quarters of this year,surpassing the target by 1 percent.
PVEP said its oil and gas exploitation activities in the past ninemonths were seriously affected by the COVID-19 pandemic and the shock drop inoil prices.
The business has taken a series of measures to maximise its exploitation, reduceproduction cost, adjust and extend investment progress along with financialsolutions to survive, and maintain the operation of projects in the mostoptimal way amid the health crisis.
However, as the average oil price is much lower than the set plan, the totalrevenue of PVEP in the reviewed period was estimated at 15.8 trillion VND(nearly 681.7 million USD). This fulfilled 71percent and 53 percent of the goals set forthe reviewed period and the entire year, respectively.
The corporation reported a pre-tax profit of 80 billion VND in the period. Itcontributed 4.8 trillion VND to the State budget.
In the remaining months of the year, PVEP’s outputis expected to reach 0.85 million tonnes of oil equivalent./.
Throughout its 45-year history of operation, the Vietnam Oil and Gas Group (PetroVietnam) has faced numerous difficulties and challenges, but with the trust and support of the Party and State, the group has weathered all storms to fulfill its mission and contribute greatly to national socio-economic development.
The PetroVietnam Exploration Production Corporation (PVEP) extracted 2.6 million tonnes of oil equivalent in the first eight months of this year, surpassing the target by 2 percent and equivalent to 68 percent of the yearly plan.
PetroVietnam GAS Corporation JSC (PV GAS), a subsidiary of the Vietnam Oil and Gas Group (PetroVietnam), raked in over 6 trillion VND (over 259 million USD) of post-tax profit in the first nine months of the year, exceeding the target set for the period by 27 percent.
The Vietnam – Russia oil and gas joint venture Vietsovpetro has reported that its oil and gas production during January-September surpassed the set target in the period.
In mid-June, the Vietnam Trade Promotion Agency (VIETRADE) at the Ministry of Industry and Trade (MoIT) in collaboration with Alibaba.com announced a list of 200 outstanding businesses selected to participate in the "Vietnam National Pavilion" in 2025.
Vietnamese seafood processing and export enterprises are in the process of completing procedures and adopting necessary technologies to bring their products into the Halal market.
The PM outlined a dual strategy: revitalising traditional growth engines of investment, exports, and consumption, while accelerating breakthroughs in sci-tech, innovation, digital transformation, and green transition.
The complex, covering a total area of 512 ha, is designed after a multi-functional model, prioritising the preservation of natural landscapes, honouring local beauty, and creating an ideal living area.
He requested delegates to provide objective and honest feedback on what has been achieved, what has not, the consequences, and draw lessons learned for the future. He also emphasised the need to identify key directions and tasks, with a firm resolve to prevent, and eventually eliminate the trafficking of counterfeit medicines and fake food products.
The Ministry of Finance is drafting policies to establish specialised AI and smart industrial parks to raise the technological profile of FDI projects and create spillover effects for local businesses.
Vietnam ranked as the 8th largest export market of Singapore with an export turnover of more than 11.7 billion SGD (9.06 billion USD) in the first five months of this year, four places higher than that of the same period last year.
Vietnamese Ambassador to the US Nguyen Quoc Dung reviewed key milestones in the bilateral relationship, underscoring the essential and sustained contribution by businesses from both countries, from the time before the normalisation of bilateral ties in 1995 until today, when the two sides are comprehensive stategic partners of each other.
According to targets adopted at the fifth Party Congress of the Management Board of the Ho Chi Minh City Export Processing and Industrial Zones Authority (HEPZA) on June 22, the zones aim for average capital attraction of 8–10 million USD per hectare, with a 70% disbursement rate of registered capital achieved on schedule.
This year’s event attracted more than 350 entries from cities and provinces across the country, reflecting growing interest in and commitment to the Fourth Industrial Revolution.
The new Government decree also simplifies loan procedures while expanding credit incentives to include organic and circular agriculture, allowing them to access preferential terms similar to those of high-tech and value-chain based agricultural production.
Developed with state-of-the-art infrastructure, the Da Nang FTZ is designed to become a leading regional economic centre and a strategic growth pole in Vietnam’s new development landscape.
The Binh Duong Association of Supporting Industries (BASI) is expected to promote the usage of domestically manufactured components while supporting businesses in accessing international markets, strengthening linkages, and promoting deeper integration into global supply chains.
PwC Vietnam forecasts a vibrant M&A market in Vietnam’s healthcare sector in 2025, driven by rising demand for high-quality medical services and a growing middle class. Pharmaceutical companies, private hospitals, and specialised medical facilities, particularly in ophthalmology and oncology, are predicted to be key targets for M&A.
The central province of Quang Nam is set to become a hub for the medicinal plant industry, with Ngoc Linh ginseng designated as the core crop, under the Prime Minister's decision issued earlier this year.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
Illustrative image (Photo: VNA) 
