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According to reports in the Vietnamese media, the contracts were inflated by more than US$2 million. More than 40 people are said to be involved in the scam - 30 of them current PetroVietnam employees.
Vietsovpetro is a JV between PetroVietnam and Russia’s Zarubehzneft and is responsible for producing 70% of Vietnam’s crude output. According to the Russian Ambassador to Vietnam, Andrei Tatarinov, “The scandal [will] not affect Vietsovpetro’s operations.”
Duong’s arrest comes on the back of a series of crackdowns on corruption in the country’s energy sector. In May, PetroVietnam CEO Nguyen Xuan Nham and his deputy Dinh Van Nga were fired for “irresponsible management” and this month alone PetroVietnam Deputy Director Nguyen Quang Thuong was arrested on charges of producing false documentation for embezzlement purposes.
