Vietnam PM Nominates Chairman of PetroVietnam Members Council

Vietnamese Prime Minister Nguyen Tan Dung has appointed Dinh La Thang, President of the state-run Vietnam Oil and Gas Group (PetroVietnam)’s Board of Directors (BoD) as Chairman of PetroVietnam's Members Council.

 

Other members of the council are PetroVietnam General Director Phung Dinh Thuc, BoD Members of Hoang Xuan Hung and Vu Khanh Truong, Nguyen Thanh Liem, chairman of PetroVietnanm Oil Corp (PV Oil)’s Memebers Council and Phan Dinh Duc, general director of PetroVietnam Fertilizer and Chemicals Corporation (PVFCCo).

 

Earlier, Dung approved PetroVietnam to transform into a state-owned limited company with a registered capital of VND177.682 trillion ($9.111 billion).

 

By end-2009, PetroVietnam’s equity rose 140% versus its initial to nearly VND183 trillion.

 

The firm earned revenues of VND23.79 trillion in 2009, up 25.85% from a year earlier while it posted a combined pretax profit of VND38.65 trillion in the 2008-2009 period.

 

PetroVietnam targets to raise its registered capital to VND500 trillion and obtain a revenue growth rate of between 20% and 25% per year by 2015. (chinhphu.vn)