Vice President hails Vietsovpetro for contributions to energy security
Vice President Vo Thi Anh Xuan on December 22 lauded the Russia-Vietnam oil and gas joint venture Vietsovpetro and the Vietnam Oil and Gas Group (Petrovietnam) for their achievements in 2022, contributing to ensuring energy security, state budget revenue, and economic diplomacy.
Vice President Vo Thi Anh Xuan (C) and Vietsovpetro leaders and employees. (Photo: VNA)
Ba Ria-Vung Tau (VNA) – Vice President Vo Thi Anh Xuan on December 22 lauded theRussia-Vietnam oil and gas joint venture Vietsovpetro and the Vietnam Oil andGas Group (Petrovietnam) for their achievements in 2022, contributing to ensuringenergy security, state budget revenue, and economic diplomacy.
During her visit to Vietsovpetro in Vung Tau city in the southern provinceof Ba Ria-Vung Tau, the Vice President urged Petrovietnam and its subsidiaryVietsovpetro to concretise the Resolution adopted at the 13th NationalParty Congress, affirming their locomotive role in energy security and nationaldefence and security.
Theoil and gas sector should work towards modernity and enhance internationalcooperation, Xuan added.
Shehighlighted the importance of emulation movements and the studying andfollowing of late President Ho Chi Minh’s thought, morality and lifestyle to raiseproductivity and quality.
Chairman of the Petrovietnam Members' Council Hoang Quoc Vuong said thegroup has fulfilled all exploitation and turnover targets set for 2022.
In thefirst six months of 2022, Vietsovpetro pumped more than 1.57 million tonnes ofoil and condensate, surpassing the plan by 84,700 tonnes but only equivalent toover 98% of the output in the same period last year.
Of the six-monthoutput, natural gas exploitation reached 39.9 million cu.m, surpassing the planby 5.2 million cu.m and equivalent to 97.7% of the figure in the same periodlast year. The volume of crude pumped from Block 09-1 surged 12 percentyear-on-year to 160.3 million cu.m, surpassing the six-month plan by 69.6%.
The joint venture earned 1.19 billion USD in oil and gas revenue, up 510.4million USD from the target and 441.7 million USD from the same period lastyear./.
PetroVietnam Drilling and Well Services Corporation (PV Drilling) will provide jackup rig PV Drilling II for Vietsovpetro, the Vietnam-Russia oil and gas joint venture, to expand its operation in five offshore oil wells in Block 09-1.
Vietnam-Russia oil and gas joint venture Vietsovpetro has announced that it launched the sets of support for RC-RB1 and RC-10 rigs of the Dragon oilfield in June.
The Russia-Vietnam oil and gas joint venture Vietsovpetro is undertaking a series of solutions to increase oil output in the remaining months of the year.
Vietnam-Russia oil and gas joint venture (Vietsovpetro) on October 28 welcomed the first flow of oil pumped up from Ca Tam 2 production platform (CTC-2) at Ca Tam oil field.
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.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.
Vice President Vo Thi Anh Xuan (C) and Vietsovpetro leaders and employees. (Photo: VNA) 
