35-year of Yuon theft of Khmer oil and gas resources ... thanks to Viet puppets Hun Xen and CPP

PetroVietnam signs up in Cambodia

Tuesday, 17 November, 2009
News wires

PetroVietnam has signed up for an oil and gas block in Cambodia.

The state-owned outfit will own 100% of 6900-square-kilometre Block XV located the Tonle Sap Lake, local media reports said.

Seismic and exploration work will take place in the north-eastern part of the lake, the Thanh Nien news reported citing statement from PetroVietnam.

The Vietnamese are granted 30 years to explore for oil and 35 years for gas in the block.

Heeere come Petrovietnam Oil at a gas station near you

Vietnam's PV Oil expanding overseas, Cambodia first

27 Oct 2009
Alibaba.com

HANOI, Oct 28 - Petrovietnam's trading arm, PV Oil, has opened its first filling station in Cambodia as part of a project to expand its retail business overseas.

"This is the start of a chain of oil product distribution outlets overseas," PV Oil's subsidary, Petromekong, said in a statement seen on Wednesday.

Initially, the station will retail oil products imported by PV Oil from foreign refineries but eventually Petromekong would distribute products from Petrovietnam's refineries, an official from PV Oil in Ho Chi Minh City said.

Petrovietnam started operations at Vietnam's first refinery, the 140,000-bpd Dung Quat plant, in February this year. The refinery can meet 30 percent of domestic demand.

Two more refineries are planned and when they come online Vietnam would have a total refining capacity of around 600,000 bpd by 2015, about 150,000 bpd of which could be available for export, Petrovietnam officials have said.

In addition to Cambodia, PV Oil was also looking at opportunities to open filling stations in neighbouring Laos, company officials have said.

PetroVietnam Seeks Oil Investment in Cambodia

Tuesday, June 09, 2009
Xinhua

A Vietnamese petroleum company is seeking an investment opportunity in Cambodia's oil exploration, said a senior government official on Tuesday.

Pen Ngoeun, advisor to the Cambodian government said that Dinh La Thang, chairman of PetroVietnam, on Tuesday met with Sok An, deputy prime minister and minister of the Council of Ministers, expressing his company's interest in investing in oil exploration in Cambodia.

He said Sok An, in response, welcomed the move, but suggested more study and discussions be made with Cambodian National Petroleum Authority before making into any agreement.

Many international petroleum companies, including the U.S. Chevron Corp, Polytec, Medco, Kuwait Energy and CNOOC, expressed their interests in putting investments in the sector after this country had revealed to the public of its available national resources in oil and gas in its offshore in the Gulf of Thailand.

Ho Vichet, vice chairman of the Cambodian National Petroleum Authority said last year that Cambodia's expectation of its first oil development before 2010 was unlikely due to the slow submission of a development plan by the U.S. giant Chevron Corp.

He said Cambodia permitted Chevron to exploit the country's offshore Block A, one of several blocks, to do more exploration and appraisal.

According to Vichet, Chevron operates the block A with a 55 percent interest, while Mitsui Oil Exploration holds a 30 percent and South Korea's GS Caltex a 15 percent stake.

Cambodia has earlier estimated its oil production would reach 400-600 million barrels, but have later turned down their estimates saying it was too early to speculate the outcome before a business gets started.

Hanoi's Petrovietnam performing oil exploration in Cambodia? ... Oil Concessions given to Vietnam by Hun Sen regime?

Vietnam approves fund to finance oil exploration

31 Oct, 2008
REUTERS

HANOI: The Vietnamese government said on Friday it had approved an investment fund to finance oil exploration projects at home and abroad by state oil monopoly Petrovietnam.

The government said in a directive it would use about 10 per cent of the royalty from crude oil sales to contribute to the oil exploration fund but did not disclose the value of the fund.

Petrovietnam would also contribute 10 per cent of its annual after-tax earnings to the fund, the directive said.

Petrovietnam has been searching for oil assets abroad including exploration projects in Russia, Algeria, Mongolia, Iran, Myanmar, Laos, Cambodia and Indonesia.