BIDV to Lend US$10.335M to PetroVietnam Affiliate
The Bank for Investment and Development of Vietnam (BIDV) has inked a deal to lend US$10.335 million to PetroVietnam Technical Services Joint Stock Company (PTSC), an affiliate of the state-owned oil monopoly PetroVietnam group, to develop its business operations.
An agreement to this effect was signed between PTSC and the second transaction office of BIDV June 5 at Caravelle Hotel in Ho Chi Minh City.
PTSC will use the eight-year loan to invest in its FSO-Orkid (Floating Storage and Offloading Vessel Orkid) in the Vietnam-Malaysia alluvia land.
FSO-Orkid is the fifth of its kind owned PTSC under the company’s plan worth US$180 million to expand its oil and gas services by raising its storage capacity to 745,000 barrels of oil.
Earlier, BIDV lent US$16 million to PTSC to build two service vessels of 3,500 BHP and 4,500 BHP AHTS. (Vietnam Financial Times)
April 24–25, 2026
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