The company’s registered capital is higher than that of Vietnam’s largest mobile carrier Viettel.

Overall crude oil and natural gas production in Vietnam may suffer year-on-year declines of 5% and 1%, respectively, in 2020.

The ratings are at the same level as the Vietnam sovereign rating.

A representative of the trade ministry, however, suggested measures should be in compliance with current regulations and international agreements that Vietnam is a part of.

Under the revised regulation, local oil and petrol traders are now allowed to transfer their stakes to foreign investors but foreign ownership should not exceed 35%.