Signing Ceremony Between Petrovietnam and Vietcombank
The signing ceremony was witnessed by Deputy Prime Minister Ho Duc Phoc, Minister of Finance Nguyen Van Thang, Governor of the State Bank of Vietnam Nguyen Thi Hong, Deputy Governors Pham Quang Dung and Nguyen Ngoc Canh, along with leaders from relevant ministries, agencies, and senior executives from Petrovietnam and Vietcombank.
Under the agreement, Vietcombank will provide medium to long-term credit for Petrovietnam to develop two upstream and midstream projects within the Lot B – O Mon Gas-to-Power Chain. In March 2024, both parties signed a credit arrangement framework agreement for the entire project chain, laying a solid foundation for this contract. The large-scale projects, including the development of Lot B&48/95, Lot 52/97 gas fields, and the Lot B – O Mon gas pipeline, will ensure a stable gas supply for power plants in the Mekong Delta. This initiative reduces import dependency, enhances energy security, and aligns with Vietnam’s clean energy and gas industry development strategy under the adjusted Power Master Plan VIII and the government’s COP26 emissions reduction commitments.
This marks the largest credit agreement in Vietnam’s energy sector to date, underscoring Vietcombank’s pioneering role and Petrovietnam’s proactive approach in securing funding for critical national projects.
Governor Nguyen Thi Hong emphasized that today’s credit agreement is a concrete step toward implementing Resolution No. 70-NQ/TW dated August 20, 2025, issued by the Politburo on ensuring national energy security by 2030, with a vision to 2035. The resolution highlights energy security as the cornerstone of sustainable development, requiring proactive, synchronized, intelligent, and transparent measures aligned with growth model innovation.
On this occasion, Governor Nguyen Thi Hong congratulated Petrovietnam and Vietcombank on the successful signing of this pivotal credit agreement. She urged Vietcombank to strictly adhere to risk management regulations, ensuring safe and efficient disbursement, and Petrovietnam to utilize the loan for its intended purpose, complying with legal requirements to maximize project effectiveness.
Two Leading National Enterprises Partner to Launch Groundbreaking Project Under Resolution 70-NQ/TW
On the afternoon of October 7th, Deputy Prime Minister Hồ Đức Phớc attended and delivered a speech at the signing ceremony of a credit agreement exceeding $1 billion for the development and exploitation of gas fields in Blocks B&48/95 and 52/97, along with the B-Ô Môn gas pipeline project. The agreement was signed between the Vietnam National Oil and Gas Group (PetroVietnam) and the Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank).
PetroVietnam Races to Complete $1.3 Billion Thermal Power Plant by 2027
After a period of interruption, the Long Phú 1 thermal power project is now receiving focused resources from Petrovietnam, aiming to commence operations of its turbines by 2027.
Unveiling Anomalies: Lawyer Highlights Irregularities in $5 Billion Loan Debt Forgiveness Case
The recent ruling by the People’s Court of District 7 (Ho Chi Minh City), which declared the credit and mortgage contracts between VPBank and client Trần Hồng Sơn null and void, effectively freeing Mr. Sơn from a debt exceeding 5 billion VND, has sparked widespread debate. Legal experts highlight numerous irregularities, suggesting the verdict may violate procedural laws, lack legal basis, and compromise objectivity.
Vietcombank Addresses Reports of Fire at One of Its Transaction Offices on the Evening of October 4th
Vietcombank has confirmed that it is actively collaborating with relevant authorities to address and remove misleading information circulating about the bank. Efforts are underway to ensure the accurate representation of facts and protect the institution’s integrity.
Cà Mau Fertilizer (DCM): Q3 Profit Surges 2.6x YoY, 9-Month Earnings Surpass Full-Year Target
Alongside the promising business results for the first nine months of 2025, the leadership of Cà Mau Fertilizer has highlighted challenges related to the supply of input gas.
