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Petrovietnam press release: International arbitral tribunal sides with Petrovietnam in Production-Sharing Contract tax incentive dispute

In an award issued on 22 May 2015, an international Arbitral Tribunal constituted under the Arbitration Rules of the International Chamber of Commerce (ICC) and comprised of leading international arbitrators Gary Born (Chairman), David A. R. Williams QC and Yves Derains has unanimously agreed with PetroVietnam’s position in a major tax incentive dispute under a production sharing contract for a Vietnamese offshore oil concession. All claims against PetroVietnam were rejected and the claimants were ordered to reimburse PetroVietnam’s costs of arbitration in full.

PetroVietnam Gas Joint Stock Corporation appoints President & CEO

With the approval of Vietnam Oil and Gas Group in the Resolution No. 1000/NQ-DKVN (4/5/2015) on the Group’s staff, PetroVietnam Gas Joint Stock Corporation (PV GAS) has carried out steps on voting/ appointment in compliance with regulations and on 09/05/2015 has issued the Decision No. 606/QD-KVN appointing Mr. Duong Manh Son to hold the post of Member of BOD and President &CEO of PV GAS.

PV GAS successfully completes its 2014 tasks

In 2014, PetroVietnam Gas Joint Stock Corporation (PV GAS) deployed its production and business plan on the conditions that the world and domestic economy was on track of recovery but still plagued with many difficulties. In the country, credit growth remained low and non-performing debts were not improved; world LPG prices constantly fluctuated and deeply dropped; the crude oil reached its lowest record in the past 4 years…

PV GAS is listed in TOP 10 corporate income taxpayers in Vietnam

The 10 largest corporate income taxpayers (according to consolidated financial statements), with the majority of enterprises owned by the State or with capital of the State shareholders, include: Vietnam Oil and Gas Group, PetroVietnam Exploration Production Corporation, Viettel Group, Vietnam Posts and Telecommunications Group, PetroVietnam Gas Joint Stock Corporation, Vietnam Mobile Telecom Services Company, Vietnam Joint Stock Commercial Bank For Industry And Trade, Vietnam Dairy Products Joint Stock Company. Two representatives of private enterprises and FDI are Vingroup Joint Stock Company and Honda Vietnam Company.

Ceremony for Signing Agreement on Connection and Service for the gas delivery point number 2 between PetroVietnam Gas Joint Stock Corporation (PV Gas) and Nam Con Son pipeline Owners

On 29/08/2014, the Ceremony for Signing Agreement on Connection and Service for the Gas delivery point number 2 (TSA) between PetroVietnam Gas Joint Stock Corporation (PV Gas) and Nam Con Son pipeline Owners (Rosneft, Perenco and PV Gas) took place in Nha Trang city.

3rd PVGAS Football Champion Cup - 2014

On 09 and 10/08/2014, at Tran Thai football field, Nha Be, "the 3rd  PVGAS Football Champion Cup - 2014" took place. The Tournament attracted the participation of football teams from fellow companies as PetroVietnam Coating Joint Stock Company, PVCombank - Ho Chi Minh Office, Office of Rosneft Oil Company, General Economic Security Department and Tan Son Nhat Aviation Security Department.

PV GAS – Highlight in the creative labor movements

For years, PV GAS has been considered as a company strongly promoting creative labor movements, innovation initiatives both in width and depth; one of the highlights of the entire petroleum industry. These innovation initiatives applied in practice have contributed to the safe, continuous and effective management and operation of gas projects, environmental protection, generating huge economic benefits for the country, and practically supporting the implementation of the Party and State's Policy on thrift practice and waste combat.

Ca Mau Gas Company achieved gas production of 10 billion m3 on the 8th anniversary of its foundation year

At 01:00, June 26th, 2014, gas production of blocks PM3 & 46 – Cai Nuoc supplied to consumers (Ca Mau Power Plants No. 1 and 2 & Ca Mau Urea Plant) reached a record of 10 billion m3 from the date when first gas was supplied on-shore on April 29th, 2007. This achievement became more meaningful as it occurred on the 8th anniversary of the foundation of Ca Mau Gas Company (KCM) (July 03rd, 2006 – July 03rd, 2014).

Suspending gas supply from PM3 Ca Mau for regular maintenance and repair work and gas supply efforts of PV GAS

To ensure the safety of gas production system, the investor of PM3 - CAA & 46 Cai Nuoc (PM3 Ca Mau) project, Talisman (a Canadian contractor) announced the plan to suspend gas supply totally for 14 days, from July 06th to July 19th, 2014, to perform equipment maintenance and repair work.

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© Copyright PETROVIETNAM GAS JOINT STOCK CORPORATION (PV GAS)
Address: Floor 12-15, PV GAS TOWER, No. 673 Nguyen Huu Tho Street, Phuoc Kien Commune, Nha Be District, Ho Chi Minh City.
Phone: +84.28. 3781 6777 Fax: +84.28. 3781 5666 Email: pvgas@pvgas.com.vn

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