Vietnam approves development plan for oil and gas distribution

Vietnam’s Ministry of Industry and Trade (MoIT) recently approved the development plan of oil and gas distribution and production system for the period 2010-2020 with projections to 2025. The decision set the country’s total investment needs for petroleum distribution and production at VND651.523 trillion (US$31.7 billion). MoIT said that the state economy remains key to the production and distribution of petroleum. Accordingly,  MoIT encouraged other economic sectors to participate in production, processing, services, transportation and distribution of petroleum products. (June 6, 2011)