Public management of petroleum: Practices and issues

Abstract

From the public petroleum management models, the article points out the typical features of this type of management, namely: i) attracting foreign investment through design and financial terms of petroleum contracts; ii) management of production sharing contracts; and iii) participation of national oil companies (NOC) in these management processes. On the basis of analysing the experiences of some countries in the world in public management of petroleum, this article analyses the current situation of public management of petroleum in Vietnam, highlights some limitations and proposes orientations for revision of the Petroleum Law.