PVN sells 355 million tonnes of crude oil in 30 years

7/25/2017 - 10:52:28 AM

The National Oil and Gas Group (PVN) has sold a total 355 million tonnes of crude oil since the first batch of crude oil was extracted from the Bach Ho field in April 1987, bringing about a huge source of foreign currencies for the country.

According to PVN Deputy General Director Nguyen Sinh Khang, a total 355 million tonnes of crude oil has been extracted from various oil fields over the past 30 years and has been sold at a total value of approximately US$145 billion.

Khang noted that the successful and safe exploitation and trading of crude oil is thanks to the considerable efforts of the PetroVietnam Oil Corporation (PVOil), PetroVietnam Exploration Production Corporation (PVEP), the Vietnamese-Russian joint venture Vietsovpetro, and Bien Dong Petroleum Operating Company (Bien Dong POC), among others.

In the first 6 months of 2017, a total of 7.48 million tonnes of crude oil extracted both at home and abroad was sold, bringing in US$3.17 billion, accounting for nearly 29% of PVN's total revenue.

In addition, 3.04 million tonnes of crude oil was provided for Dung Quat Oil Refinery to help increase the added value for Vietnam's crude oil.

According to PVN, the average price of Vietnam's crude oil reached US$54.4 per barrel in the first half of 2017, higher than the estimated price of US$50 per barrel and also higher than the average world price.

The average price of crude oil is forecast to fluctuate from US$46 to US$50 per barrel in the remaining months of this year. Accordingly, the average price of oil in 2017 is predicted to reach up to US$50 per barrel.

Source: NDO

Hoa Binh fast-tracks new-style countryside development with strong base

Once a mountainous province facing many challenges, Hoa Binh has, after more than a decade of implementing the national target programme on new-style rural area development, emerged as a bright spot in Vietnam’s northern midland and mountainous region. In the first quarter of 2025, the province recorded positive results, paving the way for Hoa Binh to enter a phase of accelerated growth with a proactive and confident mindset.

High tech seen as key to sustainable farming in Hoa Binh

Hoa Binh province is steadily advancing its agricultural sector through the adoption of high-tech solutions, seen as a sustainable path for long-term development.

Hoa Binh reviews progress on key provincial projects

The steering committee for key projects of Hoa Binh province convened on May 14 to assess the progress of major ongoing developments

Hoa Binh attends "Meet Korea 2025" event

A delegation of Hoa Binh province has attended the "Meet Korea 2025" event, recently held by the Ministry of Foreign Affairs, the Embassy of the Republic of Korea (RoK) in Vietnam, the Korea Trade-Investment Promotion Agency, and the People's Committee of Hung Yen province.

Hoa Binh revives local heritage through OCOP programme

Hoa Binh province joined Vietnam’s national "One Commune, One Product” (OCOP) programme in 2019, not simply as a mountainous region following central policy, but with a clear vision to revive the cultural and agricultural values in its villages and crops.

OCOP Hoa Binh: Awakening local excellence - Journey from tradition to market

From just 16 certified products in its inaugural year to 158 by early 2025, the One Commune One Product (OCOP) programme in Hoa Binh province has followed a steady and strategic path. But beyond the numbers, it has reawakened local heritage, turning oranges, bamboo shoots, brocade, and herbal remedies into branded, market-ready goods - and, more profoundly, transformed how local communities value and present their own cultural identity.