Trending News: Hanoi leads in implementing OCOP programmeMOF Hands Over 25 Boats To 10 Villages In Hulu BesutGovernment Initiatives Boost Malay Language Mastery In Vernacular Schools – MOEMA63: Govt Increases Interim Special Grant For Sabah, Sarawak To RM600 Million – DPM FadillahMalaysian Shopee Live Sellers Achieve 6.5x Sales Increase On 9.9 Super Shopping DayRinggit Ends Higher Against Major Currencies Except Us DollarOratory Competition Platform For Students To Embrace Rukun NegaraTwo KRTs In Perlis Achieve Progressive StatusLabuan Customs Seizes Over RM1.1 Mil In Contraband, Vehicles In Five-day OperationFBM KLCI Futures End Mostly Lower On Last-minute SellingFBM KLCI Dips Into Red At Close, Bucking Regional Trend But Small Caps Support Broader MarketDialysis Centre In Felda Sahabat To Ease Burden On Settlers, Nearby VillagersHannah Urges NSC, MPM To Resolve Misunderstandings ProfessionallySAS 2024 Hits RM1.3 Billion Potential Transaction TargetKelantan APM Ready To Face Northeast MonsoonMbpp Enforcement Officers To Be Equipped With Body Cameras To Enhance Transparency, SafetyPahang Records 5.9 Million Tourist Arrivals Spending Rm5.3 BillionNo More ‘Closed En-Counter’ as JPJ State Chiefs Warned of SOP Ahead of SpotchecksLPPKN Targets 70 Pct Response Rate In MPFS-6 2024Shah Alam Section 7 Lake Resumes Recreational ActivitiesSafety Of Fishermen Not An Issue In South China Sea – Mohamad SabuRamanan Receives SSAP Award With ‘Datuk Seri’ TitleThree Arrested In Connection With Death Of Former Malaysian GP RacerDomestic Tourism Expenditure Soars To RM78.7 Bln In 2023 – DOSMBenchmark Celebrates Grand Opening Of New Facility In PenangWorlskills Lyon: Malaysian Youth Continue To Show Quality And Skill At Global StageRestaurant In Sunway Mentari Fulfills Cravings For Traditional Bajau CuisineTwo Suspected Loan Sharks Nabbed In IpohTengku Meriam Heads Pahang Honours ListPreparations In Full Swing For Malaysia Day Celebrations In Sabah – AlesiaMOSTI Encourages Greater Private, State Involvement In Aerospace SectorSabah Welcomes RM600 Million Interim Special Grant From Federal GovtRXZ Members 6.0: JPJ Reminds Organisers, Participants To Comply With Rules1MDB Only Paid Us$2.2 Bln To Aabar – Financial Fraud InvestigatorShopee Sees 6.5-fold Sales Increase For Local Sellers During 9.9 Super Shopping DayPenang Tackles Persistent Flooding With New RTB Projects‘GPP KiTa’ Launched To Streamline Plant Factory Approvals, Boost Urban AgricultureKKR To Work With JPS To Overcome Flood Issues In Jalan Kampung Sembrong DalamGovt, Felda To Discuss Return Of NCR Land To Rightful Owners In Tambisan – PM AnwarTribute To Hanif Omar: Far-sighted And Meticulous Top CopAnwar Chairing MTPMA63 Meeting In SabahMA63: 11 Demands Resolved, More To Be Addressed – DPM FadillahUnemployed Man Jaiiled, Fined For Seditious Posting On TikTokCPO Futures Close Lower Tracking Weaker Soybean Oil PricesThe WatchFund SG and Konvi Reach pound 2 million in Assets Under Management350 Made Homeless In Bintulu Longhouse FireGOF Seizes 1,000 Kg Of Smuggled Rice In Pasir MasJHEAINS Seals Two Houses Used As Unregistered Madrasah In Kuala PilahNAFAS Unveils New Marinade Products At MAHA 2024National Archives open To Collaborations On Film Depicting 1972 Sg Kerian Ferry TragedyFelda’s Success Owes Much To Resilience of Early Settlers, Says PM AnwarBudget 2025: Call For Govt To Continue Advancing Social Well-beingLabourer Jailed 72 Years, 60 Strokes Of The Cane For Raping DaughterBank Islam Celebrates Seven Al-Awfar Draw WinnersAvnet to Support South East Water’s Mass Digital Meter DeploymentPhlexcell, NanoMalaysia and Universiti Teknologi Petronas Ink MoU To Advance Solar Technology And Flexible ElectronicsVietnamese, German parties hold 9th dialogue in BerlinCIMB collaborates with Samsung to introduce innovative solutions for selected Galaxy devicesNajib Still Hospitalised, 1MDB Trial Postponed To Sept 1719-year-old Assistant At Childcare Centre Charged With Abusing Four ChildrenMCMC’s MIV With Community Programme Helps Boost Digital Literacy In SelangorNational Shuttlers Can Spring Surprises In World Junior Meet – CoachSchool Bus Driver Charged Again For Offensive TikTok CommentMalaysia Aims To Maintain Good Relations With All Countries – PM AnwarMan Charged With Murdering Parents Jailed Nine Years For Causing Hurt To NieceFujitec Co., Ltd.: First Japanese Company To Receive Certification For Maintenance Using Advanced Remote Monitoring In Singapore, A Leading Country In Elevator MaintenanceCourt Allows Govt’s Application For Stay Over Land Transfer To Semantan EstateSmooth Rehearsal For Trooping Of The ColoursMandatory Halal Certification: Conference Of Rulers Will Have Final Say – DPM ZahidFormer Research Officer Of Politician Charged With Drug TraffickingSelangor Zakat Board Receives Over RM300,000 In Business Zakat From FGV Holdings BerhadBoosting Farmers’ Incomes With Solar PanelsMan-Eating Croc Shot Dead In Lahad DatuKPDN Raids Premises Used To Misappropriate LPG In Negeri SembilanInvest Malaysia 2024 Hong Kong Attracts 350 Investors With AUM Of Over US$3 TrillionBeyond The Three Highs: The Silent Threat Of Obesity In MalaysiaKBS Exploring Suitable Incentives To Attract Youth To Join Rakan Muda ProgrammeYIA Targets RM7.2 Mln In Annual Waqf Collections32,929 Students Nationwide Benefit From MACC’s WAR ProgrammeTwo Entertainment Centres Raided For Copyright InfringementKnowledge Is Key To Youth Success, Nation’s Progress – Dr MahathirFBM KLCI Makes Swift Rebound At Opening, Expected To Hover In 1,640-1,650 RangeJohor Leads Malaysia’s Agriculture Sector With Strong Vision, Strategy – ArthurMalaysia To Increase Participation At Next WSCOp Global: 171 Individuals Remanded For Seven Days From Today – IGPBUSINESSNEXT recognized in the 2024 Gartner® Sales Force Automation Magic Quadrant S, for 11 years runningSingapore based publishers focussed startup by Ex-Googlers, Crackle Technologies raises USD 1.7 Mn to Revolutionize Adtech with AI-Powered SolutionsTop leader gives encouragement to flood victims in Phu ThoWWF’s climate resilient project yields efficiency in Bac Lieu provinceParty membership badges bestowed upon former, incumbent National Assembly officialsVietnamese, Lao Party Central Committees’ Organisation Commissions strengthenQuang Nam, Da Nang, Thua Thien-Hue promote tourism in AustraliaLaos commends cooperation between Vietnam, Lao Journalists AssociationsYSIJ Donates 111 Smart Televisions To Schools In JohorVietnam, Maldives explore economic opportunitiesMalaysia Ready To Collaborate With Other Nations In Defence Technology – Mohamed KhaledNA Chairman directs settlement of aftermaths of Typhoon Yagi in Thai Nguyen52 Years On: Family Members Share Emotional Accounts Of Sg Kerian Ferry TragedyTop Lao leader meets with former Vietnamese PresidentsSeniority No Longer A Guarantee For Promotion In Public Service, Says Melaka CM
Sat. Sep 14th, 2024
Trending News: Hanoi leads in implementing OCOP programmeMOF Hands Over 25 Boats To 10 Villages In Hulu BesutGovernment Initiatives Boost Malay Language Mastery In Vernacular Schools – MOEMA63: Govt Increases Interim Special Grant For Sabah, Sarawak To RM600 Million – DPM FadillahMalaysian Shopee Live Sellers Achieve 6.5x Sales Increase On 9.9 Super Shopping DayRinggit Ends Higher Against Major Currencies Except Us DollarOratory Competition Platform For Students To Embrace Rukun NegaraTwo KRTs In Perlis Achieve Progressive StatusLabuan Customs Seizes Over RM1.1 Mil In Contraband, Vehicles In Five-day OperationFBM KLCI Futures End Mostly Lower On Last-minute SellingFBM KLCI Dips Into Red At Close, Bucking Regional Trend But Small Caps Support Broader MarketDialysis Centre In Felda Sahabat To Ease Burden On Settlers, Nearby VillagersHannah Urges NSC, MPM To Resolve Misunderstandings ProfessionallySAS 2024 Hits RM1.3 Billion Potential Transaction TargetKelantan APM Ready To Face Northeast MonsoonMbpp Enforcement Officers To Be Equipped With Body Cameras To Enhance Transparency, SafetyPahang Records 5.9 Million Tourist Arrivals Spending Rm5.3 BillionNo More ‘Closed En-Counter’ as JPJ State Chiefs Warned of SOP Ahead of SpotchecksLPPKN Targets 70 Pct Response Rate In MPFS-6 2024Shah Alam Section 7 Lake Resumes Recreational ActivitiesSafety Of Fishermen Not An Issue In South China Sea – Mohamad SabuRamanan Receives SSAP Award With ‘Datuk Seri’ TitleThree Arrested In Connection With Death Of Former Malaysian GP RacerDomestic Tourism Expenditure Soars To RM78.7 Bln In 2023 – DOSMBenchmark Celebrates Grand Opening Of New Facility In PenangWorlskills Lyon: Malaysian Youth Continue To Show Quality And Skill At Global StageRestaurant In Sunway Mentari Fulfills Cravings For Traditional Bajau CuisineTwo Suspected Loan Sharks Nabbed In IpohTengku Meriam Heads Pahang Honours ListPreparations In Full Swing For Malaysia Day Celebrations In Sabah – AlesiaMOSTI Encourages Greater Private, State Involvement In Aerospace SectorSabah Welcomes RM600 Million Interim Special Grant From Federal GovtRXZ Members 6.0: JPJ Reminds Organisers, Participants To Comply With Rules1MDB Only Paid Us$2.2 Bln To Aabar – Financial Fraud InvestigatorShopee Sees 6.5-fold Sales Increase For Local Sellers During 9.9 Super Shopping DayPenang Tackles Persistent Flooding With New RTB Projects‘GPP KiTa’ Launched To Streamline Plant Factory Approvals, Boost Urban AgricultureKKR To Work With JPS To Overcome Flood Issues In Jalan Kampung Sembrong DalamGovt, Felda To Discuss Return Of NCR Land To Rightful Owners In Tambisan – PM AnwarTribute To Hanif Omar: Far-sighted And Meticulous Top CopAnwar Chairing MTPMA63 Meeting In SabahMA63: 11 Demands Resolved, More To Be Addressed – DPM FadillahUnemployed Man Jaiiled, Fined For Seditious Posting On TikTokCPO Futures Close Lower Tracking Weaker Soybean Oil PricesThe WatchFund SG and Konvi Reach pound 2 million in Assets Under Management350 Made Homeless In Bintulu Longhouse FireGOF Seizes 1,000 Kg Of Smuggled Rice In Pasir MasJHEAINS Seals Two Houses Used As Unregistered Madrasah In Kuala PilahNAFAS Unveils New Marinade Products At MAHA 2024National Archives open To Collaborations On Film Depicting 1972 Sg Kerian Ferry TragedyFelda’s Success Owes Much To Resilience of Early Settlers, Says PM AnwarBudget 2025: Call For Govt To Continue Advancing Social Well-beingLabourer Jailed 72 Years, 60 Strokes Of The Cane For Raping DaughterBank Islam Celebrates Seven Al-Awfar Draw WinnersAvnet to Support South East Water’s Mass Digital Meter DeploymentPhlexcell, NanoMalaysia and Universiti Teknologi Petronas Ink MoU To Advance Solar Technology And Flexible ElectronicsVietnamese, German parties hold 9th dialogue in BerlinCIMB collaborates with Samsung to introduce innovative solutions for selected Galaxy devicesNajib Still Hospitalised, 1MDB Trial Postponed To Sept 1719-year-old Assistant At Childcare Centre Charged With Abusing Four ChildrenMCMC’s MIV With Community Programme Helps Boost Digital Literacy In SelangorNational Shuttlers Can Spring Surprises In World Junior Meet – CoachSchool Bus Driver Charged Again For Offensive TikTok CommentMalaysia Aims To Maintain Good Relations With All Countries – PM AnwarMan Charged With Murdering Parents Jailed Nine Years For Causing Hurt To NieceFujitec Co., Ltd.: First Japanese Company To Receive Certification For Maintenance Using Advanced Remote Monitoring In Singapore, A Leading Country In Elevator MaintenanceCourt Allows Govt’s Application For Stay Over Land Transfer To Semantan EstateSmooth Rehearsal For Trooping Of The ColoursMandatory Halal Certification: Conference Of Rulers Will Have Final Say – DPM ZahidFormer Research Officer Of Politician Charged With Drug TraffickingSelangor Zakat Board Receives Over RM300,000 In Business Zakat From FGV Holdings BerhadBoosting Farmers’ Incomes With Solar PanelsMan-Eating Croc Shot Dead In Lahad DatuKPDN Raids Premises Used To Misappropriate LPG In Negeri SembilanInvest Malaysia 2024 Hong Kong Attracts 350 Investors With AUM Of Over US$3 TrillionBeyond The Three Highs: The Silent Threat Of Obesity In MalaysiaKBS Exploring Suitable Incentives To Attract Youth To Join Rakan Muda ProgrammeYIA Targets RM7.2 Mln In Annual Waqf Collections32,929 Students Nationwide Benefit From MACC’s WAR ProgrammeTwo Entertainment Centres Raided For Copyright InfringementKnowledge Is Key To Youth Success, Nation’s Progress – Dr MahathirFBM KLCI Makes Swift Rebound At Opening, Expected To Hover In 1,640-1,650 RangeJohor Leads Malaysia’s Agriculture Sector With Strong Vision, Strategy – ArthurMalaysia To Increase Participation At Next WSCOp Global: 171 Individuals Remanded For Seven Days From Today – IGPBUSINESSNEXT recognized in the 2024 Gartner® Sales Force Automation Magic Quadrant S, for 11 years runningSingapore based publishers focussed startup by Ex-Googlers, Crackle Technologies raises USD 1.7 Mn to Revolutionize Adtech with AI-Powered SolutionsTop leader gives encouragement to flood victims in Phu ThoWWF’s climate resilient project yields efficiency in Bac Lieu provinceParty membership badges bestowed upon former, incumbent National Assembly officialsVietnamese, Lao Party Central Committees’ Organisation Commissions strengthenQuang Nam, Da Nang, Thua Thien-Hue promote tourism in AustraliaLaos commends cooperation between Vietnam, Lao Journalists AssociationsYSIJ Donates 111 Smart Televisions To Schools In JohorVietnam, Maldives explore economic opportunitiesMalaysia Ready To Collaborate With Other Nations In Defence Technology – Mohamed KhaledNA Chairman directs settlement of aftermaths of Typhoon Yagi in Thai Nguyen52 Years On: Family Members Share Emotional Accounts Of Sg Kerian Ferry TragedyTop Lao leader meets with former Vietnamese PresidentsSeniority No Longer A Guarantee For Promotion In Public Service, Says Melaka CM
Sat. Sep 14th, 2024

Petrovietnam leads SOEs in terms of profits from overseas projects

Minister of Finance Ho Duc Phoc has recently submitted a comprehensive report to the National Assembly, detailing the oversea investment landscape of state-owned enterprises (SOEs) in 2022.

Ending December 2022, a total of 30 Vietnamese state-owned enterprises, including companies with state capital, invested more than 6.6 billion USD in foreign ventures. The Vietnam Oil and Gas Group (Petrovietnam) led the pack, contributing 4 billion USD, or 60.8% of the total.

On the repatriation front, 72 foreign projects from 16 enterprises brought in over 4 billion USD. Petrovietnam spearheaded the recoveries, reclaiming 2.9 billion USD, equivalent to 71.1% of the total. This includes profits of 1.1 billion USD, with the remainder from principal, interest and other sources.

Assessing the operational results of foreign investment projects, the Government’s report acknowledged while several projects experienced positive revenue shifts, overall profits suffered due to inefficient cost utilisation. Among profitable projects is Petrovietnam’s oil exploration project in Block 04, Nhenhexky (Russia), which demonstrated high efficiency, robust revenue, and a substantial capital recovery surpassing the initial investment.

The joint venture Rusvietpetro, formed by Petrovietnam and Zarubezhneft, actively explored 13 oil fields in Block 04, Nhenhexky with estimated reserves stand at 244 million tonnes (geological) and 96 million tonnes (recoverable). Since its inception in 2008, Rusvietpetro has been hailed as one of Petrovietnam’s most effective international ventures./.

Source: Vietnam News Agency

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