Result 2019:
13.09

Crude oil
Million Tons

10.20

Gas exploited
Billion M3

22.54

Electricity
Billion KWhs

1.577

Fertilizer
Million Tons

11.500

Petroleum
Million Tons

Petrovietnam attends Vietnam - US TIFA meeting

From 27th September to 2nd October 2019, the delegation of Vietnam National Oil and Gas Group (Petrovietnam) led by Mr. Dinh Van Son - member of the Board of Directors accompanied Minister of Industry and Trade Tran Tuan Anh to the United States to attend the Vietnam - US Trade and Investment Framework Agreement (TIFA) meeting and work with leading business groups of the United States in the field of energy infrastructure, renewable energy, and investment in gas power plant…

The Vietnam-US Trade and Investment Council is a bilateral cooperation mechanism between the two Governments, plays an active role in promoting and bringing effectiveness in the trade cooperation relations between the two countries. With fast and stable economic growth, improved investment and business environment, and other comparative advantages, Vietnam is becoming one of the potential US partners in the field of trade. Demand for electricity and energy use for both production and consumption is increasing while production capacity and investment in developing the energy sector is limited, thus investment opportunities in this area, especially for US investors are very open. In addition, as a member of the Paris Convention on greenhouse gas emissions, Vietnam is committed to developing sustainable energy and environmental protection through application of clean, renewable energy technologies and energy using efficiency. At the working sessions, the Vietnamese delegation shared about the strategic development orientation of Vietnam's energy industry in the coming time, especially in the context that Vietnamese economy is developing strongly in the right direction of the Vietnamese Party and State, effectively utilizing market opportunities from bilateral and multilateral cooperation mechanisms on the basis of mutual benefits.

Vietnam Delegation at the Roundtable Talk on Energy and Minerals with leading economic groups of the United States. 

In the program, the Ministry of Industry and Trade of Vietnam and the US Department of Foreign Affairs signed a bilateral cooperation agreement on energy development. The two sides emphasized the importance of Vietnam-US bilateral cooperation in the context of rapidly changing world economy and politics. Energy cooperation between the two countries will be an important indicator for the overall relations of the two countries to move forward in a sustainable manner. The US Department of Foreign Affairs highly appreciates the efforts of Vietnam in general and the Ministry of Industry and Trade in particular in creating conditions for AES Company and US economic groups to participate in Vietnam's energy sector. After the signing ceremony, Minister Tran Tuan Anh, authorized by the Prime Minister, granted the investment certificate to AES company to Vietnam's first LNG gas power plant project in Son My. With the investment license, the US believed that there would be many US businesses of different fields looking for investment opportunities in Vietnam in the near future. Minister Tran Tuan Anh proposed AES to closely coordinate with domestic partners and relevant agencies of Vietnam to ensure the project implementation on schedule, with efficiency, compliance with the laws of Vietnam and help domestic partners develop. 

Vietnam Delegation at the meeting with the US-ASEAN Business Council 

At the meetings with the United States Chamber of Commerce (USCC), senior business leaders of the US-ASEAN Business Council and the Roundtable Talk on Energy and Minerals with the leading economic groups of the United States, the businesses in the delegation discussed about the enhancement of bilateral trade and investment, opportunities for cooperation in the field of energy and minerals as well as in other fields, issues of policy mechanisms, problems and difficulties in implementing policies and business practices in Vietnam and effective solutions, compliance with law and in accordance with general trends. At the same time, the parties also exchanged and proposed overall cooperation opportunities and projects for USCC and US businesses to consider participating and cooperating to develop in Vietnam, especially in the future energy development projects. 

Petrovietnam delegation at the meeting with AES Company 

In the framework of the business trip, Mr. Dinh Van Son and Petrovietnam delegation had a meeting with AES company leaders to discuss and promote the PV Gas and AES’s early completion of negotiation and agreement on the contents of the project MOU, meeting the Government of Vietnam’s requirements of progress. 

Exploration & Production