PVEP completes oil and gas exploitation target earlier than scheduled
The PetroVietnam Exploration Production Corporation (PVEP) has completed its yearly plan to exploit 4.33 million tonnes of oil equivalent earlier than scheduled.
Besides focusing on exploitation at Ca Tam (Sturgeon) oilfield, PVPE has implemented development projects in other oilfields. (Source: PVEP)
Hanoi (VNA) – The PetroVietnamExploration Production Corporation (PVEP) has completed its yearly plan toexploit 4.33 million tonnes of oil equivalent earlier than scheduled.
This is the 10th consecutive year that PVEP hasachieved its goal earlier than planned.
According PVEP, the goal was achieved despite sloweconomic global growth and declining trade, as well as unpredictable crude oilprices and difficulties in oil and gas exploitation overseas.
In 2019, PVEP has focused on exploitation at CaTam (Sturgeon) oilfield, ensuring the first oil flow was on schedule, whileimplementing development projects at other oilfields.
PVEP’s total oil output is estimated to reach4.45 million tonnes this year, surpassing the yearly target by 3 percent. Thecorporation is expected to sell 1.32 billion cubic metres of gas, also exceedingthe annual target by 3 percent.
Total revenues are estimated at 35.91 trillionVND (1.54 billion USD), surpassing the yearly target of 7 percent. Post-taxprofits are expected to reach 6.35 trillion VND (274 million USD), exceedingthe yearly plan by 54 percent.
PVEP is forecast to contribute 10.53 trillionVND (453.81 million USD) to the State budget, surpassing the annual plan by 13percent./.
The PetroVietnam Exploration and Production Corporation (PVEP)’s nine-month State budget contribution exceeded its set yearly target thanks to higher oil prices.
The Hanoi People’s Court will open a trial of the case of abusing position and power to appropriate assets at the PetroVietnam Exploration Production Corporation (PVEP) on May 6.
The People’s Court of Hanoi on May 6 decided to suspend a trial for the case of “abusing position and power to appropriate assets” that occurred at the PetroVietnam Exploration Production Corporation (PVEP).
Oil and gas projects in the central region of Vietnam, including onshore and offshore ones, are being implemented by the consortium of contractors - ExxonMobil Corporation, Vietnam Oil and Gas Group (PetroVietnam) and PetroVietnam Exploration Production Corporation (PVEP) as scheduled.
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.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
Besides focusing on exploitation at Ca Tam (Sturgeon) oilfield, PVPE has implemented development projects in other oilfields. (Source: PVEP) 
