The Japan Bank for International Cooperation (JBIC) is considering funding the Block B&52/97 project of the Viet Nam Oil and Gas Group (PetrolVietnam) with loans without a government guarantee.
Vietnam Oil and Gas Group, better known as PetroVietnam, acquired two
oil and gas exploration and exploitation companies and a pipeline
company owned by Chevron, one of the biggest multinational energy
corporations in the United Sates.
Despite sharp declines in crude oil prices, the Viet Nam Oil and Gas
Group (PetroVietnam) achieved satisfactory production and business
results during the first five months of this year.
Deputy Prime Minister Hoang Trung Hai has urged the Vietnam National Oil
and Gas Group (PetroVietnam) to quickly restructure its operations this
year, following a prime ministerial decision.