PetroVietnam (PVN) did not cause any loss of State capital but did make unauthorised investments in some areas and in capital advances without approval from the Prime Minister, said PetroVietnam's chairman Phung Dinh Thuc yesterday during an online company meeting.

The National Petrol Oil and Gas Group (PVN) made a record VND207 trillion (US$9.8 billion), 30,8 per cent of its total turnover, in petroleum services during the first year of a 2011 - 2015 plan.

Ca Mau Fertiliser Factory, the largest of those invested by PetroVietnam Group (PVN), will officially open by the end of this month, a source from PVN released.

President Truong Tan Sang yesterday visited the headquarters of the Viet Nam National Oil and Gas Group (PetroVietnam) to deliver seasonal greetings to its leader and staff members.

The Viet Nam National Oil and Gas Group (PetroVietnam) produced 15 million tones of crude oil this year, 30 per cent higher than production targets set earlier this year.

Viet Nam Oil and Gas Group (PetroVietnam) has earned US$160 billion and maintained an average annual growth rate of nearly 20 per cent during the past 50 years, said PetroVietnam chairman Phung Dinh Thuc.

PetroVietnam Power Corporation on Saturday officially brought its Nhon Trach Power Plant No. 2 into operation in the southern province of Dong Nai.

The Petrovietnam Group said it would speed up disbursement of money for its projects and ensure safe operations of its plants. These include Dung Quat Oil Refinery, Ca Mau Power Plants No.1 and 2, Nhon Trach Power Plant No.1 and Phu My Fertilizer Plant, Nghi Son Oil Filter Complex and Song Hau Thermal Power Plant No.1.

The ninth Viet Nam Oil and Gas Expo, hosted by the Viet Nam Oil and Gas Group (PetroVietnam), took place at the Giang Vo Exhibition Centre in Ha Noi yesterday.

Output from Chim Sao is expected to plateau at around 25,000 barrels of oil per day, at which time gas production will be approximately 25 million cubic feet per day, the company said.