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VN to privatise parts of energy industry

Update: August, 15/2015 - 09:38
The government plans to sell a 49 per cent stake in Binh Son Refining and Petrochemical Company Limited (BSR), which runs Dung Quat Refinery Plant, said Cao Quoc Hung, the ministry's deputy minister.— Photo bsr
HA NOI(VNS)  — Viet Nam plans to reduce its ownership stakes in some state energy companies, the Ministry of Industry and Trade said earlier this week.

The government plans to sell a 49 per cent stake in Binh Son Refining and Petrochemical Company Limited (BSR), which runs Dung Quat Refinery Plant, said Cao Quoc Hung, the ministry's deputy minister.

The government also plans to reduce its ownership of PetroVietnam Oil Corporation (PVOil) from 100 per cent to 51 per cent and in PVcomBank from 51 per cent to below 20 per cent, Hung said.

The Viet Nam Oil and Gas Group (PVN) would remain state-owned until at least 2030, he said.

Along with PVN, the State will maintain a decisive role in important subsidiaries, including PVGas and Vie6eet Nam National Petroleum Group (Petrolimex), he said. The state plans to lower its stake from the current 96.7 per cent to below 75 per cent in PVGas while it will remain at 75 per cent in Petrolimex.

Nguyen Viet Son, Deputy General Director of General Department of Energy, said that the restructuring of the oil and gas sector would improve the sector's competitiveness.

The oil-gas sector will also attract private companies and foreign investors in oil refinery plants and allow them to sell their products as well as establish an overseas gas company, he said. — VNS

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