Related Articles
Chinese president Xi Jinping and Vietnamese communist party general secretary Nguyen Phu Trong
Forward article link
Share PDF with colleagues

Vietnam battles for IOCs as China turns up the heat

China is intensifying its pressure on Hanoi to halt IOCs’ offshore drilling activities. Some have already withdrawn and others may follow

Vietnam is facing the prospect of losing heavyweight IOCs from its offshore, as China amplifies pressure to rein in E&P activity that it views as challenging its maritime interests along the so-called Nine Dash Line in the South China Sea. Chinese pressure has this year forced Russia’s Rosneft to shelve a planned drilling campaign, while both Repsol and the UAE’s Mubadala, partners on the Ca Rong Do field, have relinquished offshore stakes to state-owned PetroVietnam—in return for what is understood to have been a compensation package worth around $1bn. Spain’s Repsol announced on 12 June that it would relinquish its 51.75pc stake in block 07/03 and blocks 135-136 in Vietnam. The IOC d

Comments

Comments

{{ error }}
{{ comment.comment.Name }} • {{ comment.timeAgo }}
{{ comment.comment.Text }}
Also in this section
Letter from Canada: Keystone XL’s demise a fiasco and opportunity
26 January 2021
The Canadian oilsands industry should now be clear where it stands and plan accordingly
Russia benefits from standing its ground in oil price grey zone
25 January 2021
Saudi sacrifice shows greater appetite for compromise in a price environment that is not win-win for the two Opec+ heavyweights
Oman runs hard to stand still
25 January 2021
The sultanate’s long-term oil ambitions are modest, but the urgent appetite for fresh gas supply remains
Sign Up For Our Newsletter
Project Data
Maps
PE Store
Social Links
Social Feeds
Featured Video