Vietnam’s PV Gas, Russia’s Zarubezhneft to further core area cooperation
PV Gas, under state-owned Petrovietnam, and Russia’s state-owned Zarubezhneft will further cooperate in oil-gas and energy activities, the former said on Monday.
The two firms signed an agreement last week on the sidelines of the BRICS Summit 2024 in Kazan city of Russia in the presence of Vietnamese Prime Minister Pham Minh Chinh. Details were not revealed.
PV Gas board chairman Nguyen Thanh Binh (front, right) and Zarubezhneft general director Kudryashov Sergei Ivanovich (front, left) at an MoU signing ceremony in Kazan, Russia, October 23, 2024. Photo courtesy of PV Gas.
Chinh called on the two giants to expand their collaboration in line with the Vietnam-Russia comprehensive strategic partnership, ensuring benefits of both peoples. He also suggested PV Gas and Zarubezhneft collaborate in new sectors including tourism, green and clean energy, and infrastructure for oil-gas and energy activities.
Zarubezhneft general director Kudryashov Sergei Ivanovich mentioned the resolution of some challenges facing the Russian firm after an April meeting with PM Chinh. He called on the Vietnamese government and PM Chinh to back further cooperation between Zarubezhneft and Petrovietnam.
Zarubezhneft has been present in Vietnam for nearly 40 years, with engagement in the Bach Ho (White Tiger), Rong (Dragon) and Thien Ung (Eagle) fields, among others. It holds a 49% stake in Vietsovpetro, a joint-venture with Petrovietnam.
Zarubezhneft and PV Gas have been jointly deploying gas projects in Vietnam. On March 15, 2024, they signed a memorandum of understanding on the gas purchase and sale related to the Thien Nga-Hai Au field, 320 kilometers southeast of the southern province of Ba Ria-Vung Tau.
- Related News
- Read More
Vietnam’s offshore oil field produces first commercial oil ahead of schedule
The Kinh Ngu Trang-Kinh Ngu Trang Nam (White Whale-White Whale South or KNT-KTN) oil field, located in Block 09-2/09 off Vietnam's southern coast, welcomed its first oil flow on Monday, one day ahead of schedule.
Economy - Thu, July 17, 2025 | 4:03 pm GMT+7
Leading developer Becamex vows to develop eco-industrial parks in Vietnam
Becamex IDC Corp, a leading urban and industrial park developer based in Ho Chi Minh City, is committed to integrating international sustainability standards into the practical operations of its industrial parks in Vietnam, said CEO Nguyen Hoan Vu.
Industrial real estate - Thu, July 17, 2025 | 3:49 pm GMT+7
Northern Vietnam province to address traffic problem for Foxconn’s plant
Authorities in Vietnam’s northern province of Bac Ninh are working to resolve traffic congestion around the Quang Chau Industrial Park in response to concerns raised by Foxconn, a Taiwanese electronics giant and key supplier to Apple.
Companies - Thu, July 17, 2025 | 3:33 pm GMT+7
China firm plans wind power blade manufacturing project in central Vietnam
China's Zhuzhou Times New Material Technology Co., Ltd is proposing a wind power blade manufacturing project in the south-central coastal province of Khanh Hoa.
Energy - Thu, July 17, 2025 | 3:20 pm GMT+7
Investor awareness key to Vietnam’s stock market status upgrade: regulator
The Investor introduces the speech by Vu Thi Chan Phuong, chairwoman of the State Securities Commission (SSC), at the seminar "Raising investor awareness towards stock market status upgrade" in Hanoi on Thursday.
Finance - Thu, July 17, 2025 | 11:58 am GMT+7
S Korean firm apologizes for employee's assault in Hanoi
South Korea's Segyung Hi-Tech, with a subsidiary in the northern Vietnam province of Bac Ninh, on Wednesday issued a formal apology for its employee making an assault on two Vietnamese women in Hanoi.
Companies - Thu, July 17, 2025 | 10:23 am GMT+7
Vietnam’ steel giant Hoa Phat reports 30% profit surge in Q2
Vietnam’s largest steelmaker, Hoa Phat Group, posted after-tax profit of VND4.3 trillion ($164.4 million) in Q2/2025, up nearly 30% compared to both Q2/2024 and Q1/2025.
Companies - Thu, July 17, 2025 | 9:43 am GMT+7
Vietnam's fund management industry has chance to make breakthrough development: exec
Tax incentive policies will help people have confidence in investment funds and create a habit of long-term and disciplined investment, writes Nguyen Hang Nga, general director of Vietcombank Fund Management Company Limited (VCBF), a joint venture between state-controlled Vietcombank and Franklin Templeton Investments (FTI).
Consulting - Thu, July 17, 2025 | 8:52 am GMT+7
The Investor's seminar 'Raising investor awareness towards stock market status upgrade' is taking place
The Investor and its Vietnamese-language sister Nhadautu.vn will hold a seminar titled “Raising investor awareness towards stock market status upgrade” in Hanoi on Thursday, July 17.
Finance - Thu, July 17, 2025 | 7:30 am GMT+7
Chinese firms seek to develop smart urban areas in Vietnam
Hong Kong-headquartered CCC Infrastructure Co. and Shenzhen-based Hero Group wish to implement real estate projects in Vietnam, including investments in smart urban areas in the northern province of Bac Ninh and the southern province of Tay Ninh.
Real Estate - Wed, July 16, 2025 | 10:25 pm GMT+7
Construction starts on Hoa Nhon Industrial Park in central Vietnam city Danang
Local investor Sai Gon-Da Nang Investment JSC (SDN) has started construction on the Hoa Nhon Industrial Park (IP) which covers 24.75 ha in the central city of Danang.
Companies - Wed, July 16, 2025 | 8:34 pm GMT+7
US starts anti-circumvention probe into aluminum containers imported from Vietnam
The U.S. Department of Commerce (DOC) has initiated anti-circumvention investigations into disposable aluminum containers, pans, trays, and lids imported from Vietnam and Thailand, according to the Trade Remedies Authority of Vietnam under the Ministry of Industry and Trade.
Companies - Wed, July 16, 2025 | 8:27 pm GMT+7
Vietnamese billionaire-backed VinSpeed raises capital to $573 mln
VinSpeed High-Speed Rail Investment and Development JSC, where Vietnamese billionaire Pham Nhat Vuong holds a controlling stake, has raised its capital from VND6 trillion to VND15 trillion ($573.5 million).
Infrastructure - Wed, July 16, 2025 | 4:33 pm GMT+7
Vietnam's airport operator ACV to issue 1.4 bln shares in record dividend
State-owned Airports Corporation of Vietnam (ACV) plans to issue over 1.4 billion shares as stock dividends at a 64.58% ratio, its all-time high.
Companies - Wed, July 16, 2025 | 3:44 pm GMT+7
Vietnam seeks economic expansion at 8.3-8.5% this year: Prime Minister
Vietnam needs to achieve a GDP growth rate of about 8.3-8.5% this year, creating momentum to reach a double-digit level in the 2026-2030 period, said Prime Minister Pham Minh Chinh.
Economy - Wed, July 16, 2025 | 3:00 pm GMT+7
Vietnam targets $4.5 bln in cashew exports for 2025
Vietnam is aiming to export cashews worth $4.5 billion in 2025, up 2.7% year-on-year, according to the Ministry of Agriculture and Environment. To hit this target, the sector must generate around $2.2 billion in the second half.
Companies - Wed, July 16, 2025 | 1:31 pm GMT+7
