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HANOI: Vietnam's state oil firm PetroVietnam said on Tuesday it was not satisfied with a court decision last week that favoured Russian power equipment manufacturer Power Machines in a legal case against PetroVietnam.
The Vietnamese oil and gas company had to suspend the project after Power Machines was hit with U.S. sanctions.
The recent findings mark the first instance of two oil discoveries within Vietnamese territory in a single year over the past five years
Prime Minister Pham Minh Chinh has asked relevant agencies, localities and state-owned utilities to ensure there is no repetition of this year’s early summer blackouts.
Northern Vietnam is grappling with a severe energy deficit brought about by several delayed power projects, according to Nguyen Anh Tuan, a representative from the Vietnam Energy Association.