PetroVietNam Gas Up on Gas Find
Shares of PetroVietNam Gas , Vietnam's top listed firm by market value, jumped 5.5 percent on Thursday to the highest in more than two weeks on news that parent company Petrovietnam had found a large offshore gas field, analysts and brokers said.
State-run Petrovietnam group announced on Wednesday it had recently discovered the biggest gas field in the continental shelf off Vietnam's central provinces of Quang Nam and Quang Ngai and was assessing its reserves, a state-run newspaper quoted a Petrovietnam executive as speaking at a news conference for domestic media.
The first gas flow from the field could be available in 2021, the official Thanh Nien (Young People) daily said.
GAS price jumped 5.5 percent to 115,000 dong ($5.42) at 0335 GMT, Reuters data show. That was the highest since Sept. 22.
Reporting by Mai Nguyen
