16:31 | 21/01/2017 Petroleum
Deputy PM Trinh Dinh Dung told the National Oil and Gas Group (PVN) to focus on its core businesses as a way to advance growth at its annual review meeting on January 19.
He asked the group to step up oil and gas prospecting and exploration in order to acquire more deposits, increase output and contribute to ensuring national energy security and protecting national marine sovereignty.
For the gas industry, Deputy PM Dung called for the accelerated exploitation of major gas fields such as Ca Voi Xanh, Lot B and Ca Rong Do.
The deputy PM also requested PVN to speed up assigned electricity projects such as Long Phu, Song Hau and Thai Binh which are falling behind schedule to help ensure power supply for the southern region.
Deputy PM Dung said the group must resolve weaknesses at five loss-making projects, namely Dinh Vu Polyester Plant, Dung Quat Shipyard and three biofuel plants.
Last year, PVN’s revenues reached VND452.5 trillion (US$19.91 billion) while its earnings hit more than VND24.4 billion (US$1.07 billion).
The group aims to generate revenues of VND437.8 trillion (US$19.26 billion) in 2017.