Natural gas exploitation reached an estimated 5.3 billion cubic metres in the first six months (Illustrative image. Source: VNA)
Hanoi (VNS/VNA) - Crudeoil output reached 7.1 million tonnes in the first six months of this year andin doing so hit 54.3 percent of the annual target.
According to the Ministry of Industry and Trade (MoIT), prices and consumptionof crude oil and some minerals had increased over the same period last year.
Most units in the industry had met their targets in the first half of thisyear, creating momentum for the rest of 2018.
Specifically, natural gas exploitation was estimated at 5.3 billion cubicmetres, up 1 percent; and liquefied gas reached 437.600 tonnes, up 18.5 percenton-year.
The average price of crude oil in the first six months increased by 36 percentover the same period last year to 73 USD per barrel.
The hike helped the Vietnam Oil and Gas Group (PVN) exceed its target, whichwas higher than last year.
The MoIT said that clean coal production was estimated at 22.42 million tonnesin the first six months, up 11.1 percent on-year.
The Vietnam National Coal – Mineral Industries Holding Corporation Limited(Vinacomin) accounted for 19.37 million tonnes, up 10.5 percent.
Due to favourable weather for the coal mining industry, the ministry said thatthe production index of the industry had increased.
Consumption had also increased while the inventory had decreased compared tothe beginning of the year.
Vinacomin’s inventory was 6.55 million tonnes by June 30, down 2.47 milliontonnes from the beginning of the year.
"However, the second half of the year is the rainy season, so mining willbe more difficult. Taxes and fees related to coal production have continued toincrease in recent years, leading to rising production costs and lowercompetitiveness," said the ministry.
For other minerals, apatite ore mining reached about 1.45 million tonnes in thefirst six months, down by 6.3 percent over the same period, while aluminumproduction was at 578,900 tonnes, up 95.6 percent.-VNS/VNA
The Government has issued Decree No. 95/2015/ND-CP detailing a number of articles stipulated in the Petroleum Law and related laws on ensuring safety in oil and gas exploration and exploitation.
Vietsovpetro, a Vietnam – Russia joint venture, held a ceremony on August 12 to mark its 35th founding anniversary and 30 years since its first tonne of crude oil was exploited.
The Vietnam National Coal-Mineral Industries Group (Vinacomin) and the Japan Oil, Gas and Metals National Corporation (Jogmec) on May 29 agreed to enhance production capacity and safety.
Vinacomin must cut costs to become competitive and find buyers for its stockpile of 9.3 million tonnes of coal, Prime Minister Nguyen Xuan Phuc’s working group said.
Foreign Ministry Spokesperson Le Thi Thu Hang on July 28 replied to reporters’ question about recent opinions and information relating to Vietnam’s oil and gas activities, clarifying that those activities are conducted in the waters completely within the country’s sovereignty.
China’s Laoling city, in coordination with VINEXAD, hosted a series of events in Ho Chi Minh City from August 7-9 to seek trade and economic cooperation with Vietnam.
Vietnamese Ambassador to Cambodia Nguyen Minh Vu led a delegation to Mondulkiri, Ratanakiri, and Kratie provinces from August 5-8, aiming to deepen economic ties and support Vietnamese businesses operating in Cambodia’s northeastern region.
Party General Secretary To Lam’s upcoming state visit to the Republic of Korea (RoK) is expected to mark a new milestone in the bilateral relationship, creating fresh momentum for trade and investment cooperation between the two countries.
In the context of the growing global digital economy, digital transformation and the promotion of e-commerce are key drivers helping Vietnam boost integration, enhance competitiveness, and expand export markets, according to the Vietnam E-commerce and Digital Economy Agency
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In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Natural gas exploitation reached an estimated 5.3 billion cubic metres in the first six months (Illustrative image. Source: VNA) 
