General Director and Chairman of PetroVietnam Nguyen Quoc Khanh.

HA NOI (Biz Hub) — Prime Minister Nguyen Tan Dung has appointed the Viet Nam Oil and Gas Group (PetroVietnam) General Director Nguyen Quoc Khanh as the chairman of the group.

The decision came into effect on January 12, 2016.

Khanh was born in 1960 in the central Ha Tinh Province. He was appointed as the group's general director last November.

Prior to that, Khanh held a variety of management positions. He was deputy director of the PetroVietnam Exploration and Production Corporation (PVEP), general director of Me Kong Petroleum Joint Stock Company, general director of PetroVietnam Oil Processing and Distribution Company (PDC), and general director of PetroVietnam Oil Corporation (PV OIL), as well as deputy general director and general director of the Viet Nam Oil and Gas Corporation (PetroVietnam).

In 2015, PetroVietnam earned VND550 trillion (US$24.7 billion) in revenue, achieving just 77 per cent of its yearly target of VND720 trillion ($32 billion), due to the sharp fall in global oil prices.

The company contributed VND115 trillion ($5.1 billion) to the state budget, meeting only 72 per cent of the annual plan. — VNS