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

Six-month industrial production index estimated to rise 20%

According to data from the Hoa Binh Provincial Party Committee, the industrial production index for the first six months of 2025 is estimated to have increased by 20% compared to the same period last year. This marks the highest year-on-year growth rate for this period since 2020.

Exports exceeded 1.1 billion USD in 6 months

In the first six months of 2025, Hoa Binh province’s export turnover was estimated at 1.145 billion USD, marking an 18.11% increase compared to the same period in 2024. Import turnover was estimated at $ 804 million, a 17.15% increase, which helped the province maintain a positive trade balance.

The effectiveness of professional models of association and group in Tan Lac district

The lives of the ethnic minority farmers in Tan Lac district have gradually improved thanks to the new directions in agricultural production. This is a testament to the collective strength fostered through the professional associations and groups implemented by various levels of the district’s Farmers’ Union.

Building the brand of Muong village clean food

With the motto the "product quality comes first,” after nearly one year of establishment and operation, Muong village’s Clean Food Agricultural and Commercial Cooperative, located in Cau Hamlet, Hung Son Commune (Kim Boi district), has launched reputable, high-quality agricultural products to the market that are well-received by consumers. The products such as Muong village’s pork sausage, salt-cured chicken, and salt-cured pork hocks have gradually carved out a place in the market and they are on the path to obtaining the OCOP certification.

Hoa Binh ethnic farmers join forces through collective economic models

In the past, the phrase "bumper harvest, rock-bottom prices" was a familiar refrain for Vietnamese farmers engaged in fragmented, small-scale agriculture. But today, a new spirit is emerging across rural areas of Hoa Binh province - one of collaboration, organisation, and collective economic models that provide a stable foundation for production.

Maintaining farming area codes: Key to bringing Hoa Binh farm produce to global market

Maintaining growing area codes and packing facility codes in accordance with regulations is a mandatory requirement for agricultural products to be eligible for export. Recently, the Department of Agriculture and Environment of Hoa Binh province has intensified technical supervision of designated farming areas and packing facilities to safeguard the "green passport" that enables its products to access international markets.