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A Paragon Oil truck servicing a Brooklyn apartment building in the 1930s. Paragon Oil was an American oil company, founded in 1925 in New York City by the Schwartz family, and sold to Texaco in the late 1950s. It is not related to the Paragon Oil Company operating today in Brooklyn.
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In order to help pay for the costs stemming from the Deepwater Horizon explosion, BP plans to sell its stakes in gas and oil properties in Vietnam. It maintains joint ownership of such projects — Lan Tay-Lan Do gas field and Nam Con Son pipeline — with ONGC, PetroVietnam, and ConocoPhillips.
Vietnam had the fastest growth in coal use in Southeast Asia during 2011-2021, at an annual growth rate of 11%. [4]Data of the Ministry of Industry and Trade (MOIT), 10 months of 2018 coal production was estimated at 34.35 million tons, up 10% over the same period in 2017, of which clean coal output of Vinacomin (TKV) was 29.6 million tons, up 10.9% over the same period last year. [5]
Nghi Son Refinery is the second oil refinery in Vietnam. It is located about 200 kilometres (120 mi) south of Hanoi in Tinh Gia District of Thanh Hóa Province. Site-clearing for the project broke ground in 2008. Construction began on 23 October 2013, and refinery operations were targeted for 2017. [1]
The Vietnam National Petroleum Corporation was initially created in January 1956 under the name Vietnam National Petroleum Corporation, set up by decree of the minister of commerce. [ 4 ] In July 2011, Petrolimex sold 2.56% of its shares in an IPO, raising $20 million, with the state still holding 94.99% of the capital.
According to the VNR500 (Top 500) ranking, Vietsovpetro was Vietnam's 8th largest company. [ 7 ] [ 8 ] It was established in 1981 under an inter-governmental agreement between the JSC Zarubezhneft of the Soviet Union (later inherited by the Russian Federation ) and Vietnam 's state-owned Petrovietnam , with each side holding half of stake.
Vietnam's oil reserves are in the range of 270–500 million tons. Oil production rose rapidly to 403,300 barrels per day (64,120 m 3 /d) in 2004, but output is believed to have peaked and is expected to decline gradually. In 2003, mining and quarrying accounted for 9.4% of GDP, and the sector employed 0.7% of the workforce.