PetroVietnam asked to report on non-core business

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Prime Minister Nguyen Tan Dung has asked Vietnam Oil & Gas Group, the state-owned oil group known as PetroVietnam, to report on investments outside its core business.

The report will have to cover the operations of PetroVietnam's subsidiaries in finance, construction, real estate and power sectors, the Vietnam Economic Times reported Saturday.

PM Dung said PetroVietnam has to make sure its equitization process this year does not result in any losses of government assets.

He also said that when Vietsovpetro a joint venture between PetroVietnam and Russia's OAO Zarubezhneft is transformed, the benefits for both sides have to be ensured.

PetroVietnam's revenues last year accounted for 16 percent of the country's gross domestic product. The group is aiming for US$18.27 billion in revenues this year.

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