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BUSINESS
January 9, 1995 | From Times Staff and Wire Reports
6.85 Million Tons of Oil Exported: The Saigon Liberation Newspaper reported that about 99% of the 1994 total, or 6.79 million tons, came from the White Tiger oil field off the South Vietnam coast. The Big Bear oil field, now being drilled by Vietsovpetro and Australian mining giant Broken Hill Proprietary Co., produced its first 60,000 tons. A third field, Blue Dragon, being drilled by Mobil Oil Corp., is now starting production. Crude oil exports are expected to reach 8 million tons this year.
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BUSINESS
January 9, 1995 | From Times Staff and Wire Reports
6.85 Million Tons of Oil Exported: The Saigon Liberation Newspaper reported that about 99% of the 1994 total, or 6.79 million tons, came from the White Tiger oil field off the South Vietnam coast. The Big Bear oil field, now being drilled by Vietsovpetro and Australian mining giant Broken Hill Proprietary Co., produced its first 60,000 tons. A third field, Blue Dragon, being drilled by Mobil Oil Corp., is now starting production. Crude oil exports are expected to reach 8 million tons this year.
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BUSINESS
July 28, 1992 | From Times Staff and Wire Reports
BP to Spend More on Vietnam Oil Exploration: British Petroleum Co., which by the end of this year will have spent $90 million looking for oil in Vietnam, said it expects to spend $150 million on its next phase of exploration. John Browne, managing director of London-based BP Exploration, said in Hanoi that BP could spend up to $2 billion in Vietnam if it struck oil. He said Vietnam's oil potential is encouraging, despite 18 dry wells drilled by foreign companies since the late 1980s.
BUSINESS
July 28, 1992 | From Times Staff and Wire Reports
BP to Spend More on Vietnam Oil Exploration: British Petroleum Co., which by the end of this year will have spent $90 million looking for oil in Vietnam, said it expects to spend $150 million on its next phase of exploration. John Browne, managing director of London-based BP Exploration, said in Hanoi that BP could spend up to $2 billion in Vietnam if it struck oil. He said Vietnam's oil potential is encouraging, despite 18 dry wells drilled by foreign companies since the late 1980s.
BUSINESS
September 19, 1994 | From Associated Press
Grigori Borisov used to struggle in temperatures of 40 below zero to pump oil from the icy tundra of Western Siberia. Now he seeks refuge in an air-conditioned office to escape the heat blanketing the oil platform he operates in the South China Sea. Borisov works for VietSovPetro, the only company producing commercial amounts of petroleum in Vietnam.
BUSINESS
December 27, 1990 | From Reuters
Mobil Corp. is discussing the possibility of a three-way oil exploration and production venture with the Soviet Union in Vietnam, company officials said Wednesday. The project would be Mobil's first exploration and production venture with Moscow, Mobil said. But due to a 15-year trade embargo that the United States has against Vietnam, the discussions remain at a preliminary stage, a Mobil spokesman said.
NEWS
June 4, 1991 | CHARLES P. WALLACE, TIMES STAFF WRITER
In one of the many examples of poetic justice that abound in Indochina, the Vietnamese national oil company set up its offices in the abandoned and mildewed offices of the U.S. Embassy here. After all, it was U.S. oil companies that first discovered oil in the South China Sea in the closing days of the Vietnam War. And it is the U.S. government's trade embargo that is keeping those oil firms from returning to work the discoveries.
BUSINESS
April 3, 1995 | From Associated Press
More than 300 years ago, Portuguese mariners christened this wind-swept peninsula Cap St. Jacque. Over the centuries, it became the favorite seaside playground of rich Vietnamese, French colonialists and U.S. servicemen on leave from the long Indochina War. Now, once-sleepy Vung Tau is being transformed into an oil boom town, reflecting the rush of international energy companies into the uncharted but hotly contested South China Sea.
BUSINESS
July 29, 1994 | From Associated Press
Seeking to encourage offshore exploration for oil and gas, Vietnam is willing to form joint ventures and share risks with foreign investors, the country's top energy executive said Thursday. But reluctant banks and a shortage of capital could still deter all but the biggest foreign firms, observers say.
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