Vietnamese owner PetroVietnam is plotting a $500m bond issue.

The Tuoi Tre daily reported the sale could take place in 2020, citing the company's 2017 to 2025 restructuring plan submitted to the ministry of industry and trade.

It also plans to retain its 100% holding in PetroVietnam Exploration Production (PVEP) and Dung Quat Shipbuilding Industry in the period.

An IPO for PVEP has been postponed until at least 2025, however.