Russia's Zarubezhneft eyes Vietnam offshore wind power projects

Russia's Zarubezhneft eyes Vietnam offshore wind power projects

Russian oil-gas giant Zarubezhneft is looking to expand its operations in Vietnam to offshore wind power projects, general director Sergey Ivanovich Kudryashov told Prime Minister Pham Minh Chinh Monday.

Energy - Mon, Dec 22, 2021 | 11:30 am GMT+7

Petrovietnam, subsidiaries ink gas sales deal with Japanese, Thai partners for $12 bln power project

Petrovietnam, subsidiaries ink gas sales deal with Japanese, Thai partners for $12 bln power project

State-run Petrovietnam and its subsidiaries have signed deals with Japanese and Thai partners to buy gas for their long delayed $12 billion power project at Block B-O Mon.

Energy - Mon, Dec 22, 2021 | 11:30 am GMT+7

Russia's Zarubezhneft to harvest offshore Vietnam gas field from 2025

Russia's Zarubezhneft to harvest offshore Vietnam gas field from 2025

Russia’s state-owned Zarubezhneft will begin to harvest next year the 10.03 billion cubic meter Thien Nga-Hai Au gas field, 320 kilometers southeast off the southern province of Ba Ria-Vung Tau.

Energy - Mon, Dec 22, 2021 | 11:30 am GMT+7

Finnish firm Wartsila eyes first flexible power project in Vietnam

Finnish firm Wartsila eyes first flexible power project in Vietnam

Finland’s Wartsila Corporation is working with its Vietnamese partner to consider implementating the first flexible power project in Vietnam, using liquefied natural gas (LNG) and then hydrogen, and supporting the integration of renewable energy into the power system, said its president and CEO Hakan Agnevall.

Energy - Mon, Dec 22, 2021 | 11:30 am GMT+7

Renewables to make up 70% of power mix in Vietnam by 2045

Renewables to make up 70% of power mix in Vietnam by 2045

Vietnam plans to have renewables account for 15-20% of total primary energy by 2030 and the weight will be raised to 65-70% by 2045, according to the newly approved National Energy Development Strategy.

Energy - Mon, Dec 22, 2021 | 11:30 am GMT+7

Singapore’s Jadestone Energy inks gas sales deal with Petrovietnam and its subsidiary

Singapore’s Jadestone Energy inks gas sales deal with Petrovietnam and its subsidiary

Singapore-headquartered Jadestone Energy, Vietnam’s state-run Petrovietnam and its subsidiary PV Gas have signed a Heads of Agreement (HoA) for gas sales from Nam Du-U Minh gas field.

Energy - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnam targets 6,634 MW from gas-to-power plants in 2030

Vietnam targets 6,634 MW from gas-to-power plants in 2030

Vietnam has no gas-to-power plant operating at the moment, but plans to have four such facilities with a total capacity of 6,634 MW operational in 2030.

Energy - Mon, Dec 22, 2021 | 11:30 am GMT+7

Offshore wind, LNG-fired power projects unlikely to become operational before 2030: official

Offshore wind, LNG-fired power projects unlikely to become operational before 2030: official

It is unlikely that offshore wind power and LNG-fired power projects become operational before 2030, said Hoang Tien Dung, head of the Electricity & Renewable Energy Authority.

Energy - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnam faces challenges to reach LNG power target: experts

Vietnam faces challenges to reach LNG power target: experts

Vietnam's goal of putting 13 liquefied natural gas (LNG) power plants into operation and replacing 18 GW of coal-fired power with 14 GW of LNG-fired power and 12-15 GW of renewable energy by 2030 is an ambitious target that faces many difficulties and obstacles, said experts.

Energy - Mon, Dec 22, 2021 | 11:30 am GMT+7

PV Gas pays cash dividends of 30-40%

PV Gas pays cash dividends of 30-40%

PV Gas, a subsidiary of state-owned Petrovietnam, has emerged as a bright spot amid the economic gloom, having accumulated nearly VND40 trillion ($1.65 billion) as of September 30 and paying regular cash dividends of 30-40% each year.

Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7

State utility EVN to take over 2 thermal power plants after BOT contracts end

State utility EVN to take over 2 thermal power plants after BOT contracts end

Vietnam Electricity (EVN) will take over two thermal power plants in the southern region after their build-operate-transfer (BOT) contracts end in 2024 and 2025.

Energy - Mon, Dec 22, 2021 | 11:30 am GMT+7

Korea firm SK Earthon discovers crude oil off southeast Vietnam

Korea firm SK Earthon discovers crude oil off southeast Vietnam

SK Earthon, an exploration and production (E&P) subsidiary of South Korean chaebol SK Group, has discovered crude oil in the Block 16-2 off Vietnam's southeast coast.

Energy - Mon, Dec 22, 2021 | 11:30 am GMT+7

LNG-fired electricity unlikely in 2024: PV Gas

LNG-fired electricity unlikely in 2024: PV Gas

It is unlikely that LNG can be sold to power plants for electricity generation in 2024, “as the mechanism for LNG-fired power remains complicated,” said PV Gas CEO Pham Van Phong.

Energy - Mon, Dec 22, 2021 | 11:30 am GMT+7

Bright outlook for Vietnam oil and gas stocks

Bright outlook for Vietnam oil and gas stocks

Vietnam’s oil and gas stocks are expected to continue to grow in the long term with positive impacts from high oil prices, expected final investment decision (FID) approval of the Block B - O Mon gas-to-power project by the end of 2023, and the new Law on Oil and Gas.

Finance - Mon, Dec 22, 2021 | 11:30 am GMT+7

McDermott awarded $1 bln contract for gas development project in Vietnam

McDermott awarded $1 bln contract for gas development project in Vietnam

U.S. headquartered McDermott, a provider of engineering and construction solutions, will execute a $1 billion contract for a sub-project of the $12 billion Block B-O Mon gas-to-power project off Vietnam's southwest coast.

Energy - Mon, Dec 22, 2021 | 11:30 am GMT+7

Petrovietnam signs implementation deals for long-delayed $12 bln gas-to-power project

Petrovietnam signs implementation deals for long-delayed $12 bln gas-to-power project

State-owned Petrovietnam signed implementation deals with Japanese and Thai partners Monday for a $12 billion gas-to-power project at Block B-O Mon.

Energy - Mon, Dec 22, 2021 | 11:30 am GMT+7

Petrovietnam unit begins drilling work in Thailand

Petrovietnam unit begins drilling work in Thailand

Petrovietnam subsidiary PV Drilling has begun work at Block G6/48, Rossukon Conventional Oil Field, Gulf of Thailand, the company announced Monday.

Energy - Mon, Dec 22, 2021 | 11:30 am GMT+7

Petrovietnam posts $1.7 bln profit in Jan-Sep, beating 2023 target

Petrovietnam posts $1.7 bln profit in Jan-Sep, beating 2023 target

State-owned national oil and gas group Petrovietnam made a total pre-tax profit of VND42.5 trillion ($1.74 billion) on revenue of VND643.2 trillion ($26.32 billion) in the first nine months of 2023.

Energy - Mon, Dec 22, 2021 | 11:30 am GMT+7

Six commodity groups to gain from Vietnam-US relationship upgrade

Six commodity groups to gain from Vietnam-US relationship upgrade

Six commodity groups will particularly benefit from a trading uptick as a result of Vietnam-U.S. relations being elevated to a comprehensive strategic partnership.

Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnam gasoline prices raised for sixth time since July 21

Vietnam gasoline prices raised for sixth time since July 21

Retail gasoline prices in Vietnam were raised by VND140-270 ($0.01) per liter on Tuesday, the sixth hike since July 21.

Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7

High LNG import prices to affect power generation: Vietnam state utility EVN

High LNG import prices to affect power generation: Vietnam state utility EVN

The price of imported liquefied natural gas (LNG) is currently 1.5 times higher than domestic gas, making electricity production costs from this fuel source higher than retail prices, according to state utility Vietnam Electricity (EVN).

Energy - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnam targets 118 mln tons of bauxite a year in minerals exploitation plan

Vietnam targets 118 mln tons of bauxite a year in minerals exploitation plan

Vietnam plans to exploit 114.5 million tons of bauxite yearly in 2021-2030 and increase this to 118 million tons a year in 2031-2050, the Ministry of Industry and Trade announced Wednesday.

Industries - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnam oil and gas firms post mixed Q2 results

Vietnam oil and gas firms post mixed Q2 results

Contrasting Q2 results have been recorded across upstream, midstream and downstream firms in the Vietnamese oil and gas industry.

Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7

PM urges haste on Vietnam’s second-largest gas project

PM urges haste on Vietnam’s second-largest gas project

Prime Minister Pham Minh Chinh wants the multibillion dollar Block B gas-to-power project to pick up speed towards feeding power plants in the Mekong Delta’s O Mon complex.

Energy - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnam approves $11.4 bln fuel storage development plan

Vietnam approves $11.4 bln fuel storage development plan

The Vietnamese government has approved a master plan to develop the national oil and gas storage system by 2030 with an estimated investment of VND270 trillion ($11.42 billion).

Energy - Mon, Dec 22, 2021 | 11:30 am GMT+7

Thai Nguyen province approves $19 mln gas project for Germany’s Messer

Thai Nguyen province approves $19 mln gas project for Germany’s Messer

Messer Hai Phong Industrial Gas, a subsidiary of German industrial gas producer Messer, has received an investment certificate for its $19.25 million project in the northern province of Thai Nguyen.

Industries - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnam receives first LNG cargo, prepares terminal test run

Vietnam receives first LNG cargo, prepares terminal test run

Vietnam's first cargo of liquefied natural gas (LNG) was pumped into the Thi Vai LNG Terminal Monday, marking a milestone in the country’s clean energy transition.

Energy - Mon, Dec 22, 2021 | 11:30 am GMT+7

Petrovietnam set to begin work on two thermal power plants in Mekong Delta

Petrovietnam set to begin work on two thermal power plants in Mekong Delta

State-owned Petrovietnam plans to begin work this year on the O Mon 3 and O Mon 4 gas-fired thermal power plant projects in the Mekong Delta.

Energy - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnam set to become Southeast Asia petrochemicals giant

Vietnam set to become Southeast Asia petrochemicals giant

Vietnam is poised to become a regional leader in oil and petrochemical products with new production facilities in the pipeline and the industry attracting billions more in investment.

Industries - Mon, Dec 22, 2021 | 11:30 am GMT+7

Suitable approach for LNG-to-power development in Vietnam

Suitable approach for LNG-to-power development in Vietnam

LNG-fired power will account for around 15% of Vietnam’s total electricity supply by 2030, according to the country’s newly-approved power development plan, or PDP VIII.

Energy - Mon, Dec 22, 2021 | 11:30 am GMT+7

EVN likely to take over major foreign-invested power plants as BOT contracts expire

EVN likely to take over major foreign-invested power plants as BOT contracts expire

Vietnam’s Ministry of Industry and Trade has proposed Prime Minister Pham Minh Chinh allow state utility Vietnam Electricity (EVN) to take over the management of two major gas-fired power plants in southern Vietnam after their build-operate-transfer (BOT) contracts expire.

Energy - Mon, Dec 22, 2021 | 11:30 am GMT+7

Britain’s Pharos Energy to extend oil exploration in Vietnam

Britain’s Pharos Energy to extend oil exploration in Vietnam

British oil and gas exploration and production company Pharos Energy has received the Vietnamese government’s approval for the two-year extension of phase one of the exploration period of the block 125 and 126 production sharing contract.

Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7

PV Gas to supply Thai group’s $5.4 bln Vietnam petrochemical complex

PV Gas to supply Thai group’s $5.4 bln Vietnam petrochemical complex

Leading Vietnamese gas supplier PV Gas will jointly supply materials for the $5.4 billion Long Son Petrochemicals Complex, invested by Thailand's The Siam Cement Group (SCG) in the southern province of Ba Ria-Vung Tau.

Energy - Mon, Dec 22, 2021 | 11:30 am GMT+7

PV Gas named among most prestigious, efficient public companies in 2023

PV Gas named among most prestigious, efficient public companies in 2023

Leading Vietnamese gas supplier PV Gas has been ranked 20th among the top 50 most prestigious and efficient public companies in Vietnam in 2023 by Vietnam Report JSC, a leading local ranking and research company.

Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7

Petrovietnam earmarked as new investor for long-delayed gas power projects in Can Tho

Petrovietnam earmarked as new investor for long-delayed gas power projects in Can Tho

Ministries in Vietnam have asked Prime Minister Pham Minh Chinh to transfer two delayed gas-fired power projects in the Mekong Delta from state utility Vietnam Electricity (EVN) to Petrovietnam.

Energy - Mon, Dec 22, 2021 | 11:30 am GMT+7