Gas prices, transport costs for Block B – O Mon project signed

Oil tanks of Nghi Son refinery in Thanh Hoa (Photo: VNA) Thanh Hoa (VNA) – The Nghi Son petrochemical refinery company on August 22 received the first batch of 270,000 tonnes crude oil from Kuwait via Millennium cargo ship for its operation. According to Nguyen Van Thi, head of the management board of Nghi Son Economic Zone and Thanh Hoa industrial parks, this is a progress in the factory’s trial operation, making it ready to provide petrochemical and refined products for domestic and foreign markets. Alongside, ship Millennium with a maximum capacity of carrying up to 300,000 tonnes of crude oil marked a milestone of the Nghi Son seaport as the first large-ever crude oil vessel docked in Vietnam. The Nghi Son petrochemical refinery is built in Nghi Son economic zone in TinhGia district of the central province of ThanhHoa. This is the largest national oil and gas project of the country with total investment of 9.2 billion USD. After 44 months of installation, the project was completed on April 30, 2017. The Nghi Son Refinery and Petrochemical Company is preparing to test the factory. As schedule, the factory will receive three vessels of crude oil from Kuwait. With its capacity of processing 10 million tonnes of crude oil per year, the Nghi Son petrochemical refinery complex is expected to help improve the self-reliance of Vietnam in producing refinery and petrochemical products, while strengthening the national energy security.-VNA... [read more]

A stage of waste-to-energy process at a factory in Vietnam (Photo: dantri.vn) Hanoi (VNA) – Energy production from solid waste in urban areas is forecast to increase by between 10-16 percent in Vietnam, heard a workshop in Hanoi on August 18. As part of a renewable energy and energy efficiency project jointly held by the General Directorate of Energy under the Vietnamese Ministry of Industry and Trade, and the German Agency for International Cooperation (GIZ), the workshop aimed to seek expertise for the development of grid-tied power based on solid waste in Vietnam, Participants said waste-to-energy production is becoming a useful solution in the world, and in Vietnam, environmental issues and demand for land in urban areas also lead to an urgent need for the waste-to-energy solution, thus helping to ensure energy security. However, they noted that investing in renewable energy is not simple and developing countries such as Vietnam are facing various challenges, adding that it requires not only money but also an effective waste management policy. Statistics showed that about 5,400 tonnes of solid waste discharged from households in Hanoi each day, while the figure in Ho Chi Minh City reaches 8,300 tonnes per day. However, up to 90 percent of solid waste in Hanoi and 76 percent in HCM City are buried. The rest is burned, recycled or converted into organic fertiliser. Temporary landfill sites are already overloaded, and the environment will be seriously affected unless advanced technologies…... [read more]

With the aim of building a dialogue channel for Vietnamese and Taiwanese green energy industries, as well as supporting Taiwanese companies to develop the Vietnamese green energy market, Vietnam Chamber of Commerce and Industry, Ho Chi Minh Branch (VCCI-HCM) recently collaborated with the Taiwan External Trade Development Council (TAITRA) to host the Conference on Green Energy Insights: Vietnam-Taiwan Trends and Development.” Speaking at the conference, Madam Karen Ma, Director of the Green Trade Project Office, Taiwan, said, in many Asian countries like India, Thailand, Singapore and Brunei, using green energies, including solar energy, is highly recommended and seen as an effective solution to ensure national and regional energy security. In particular, these countries have also developed complete legal frameworks to provide a solid foundation for green energy development in the future. “While energy demands in developing countries are increasing and non-renewable energy sources are costlier and more environment-polluting, investing in green energy development in general and solar power development in particular is considered to be indispensable and sustainable direction,” she stressed. Taiwan has extensive experience in green energy and can fully use this strength to help Vietnam to harness its abundant green energy potential by introducing advanced green energy technologies to develop green energies and renewable energies in Vietnam, thus enabling Vietnam to achieve the goals of the Green Energy Strategy and implement international commitments for sustainable development, said Karen Ma. Sharing her experience in developing green energy industries, she said, “The core…... [read more]

VietNamNet Bridge – Associate Professor Nguyen Minh Due, chairman of the Viet Nam Energy Science Council speaks to Tuoi tre (Youth) newspaper about the need to develop renewable energy in Viet Nam. Associate Professor Nguyen Minh Due Following the revised national electricity development plan by 2020, electricity generated from coal-fired thermal power plants still accounts for nearly 50 per cent of the country’s total power, while electricity generated from wind and solar sources only makes up 1-2 per cent. Why is this? Under the plan, we are still focusing on coal-fired thermal power and the ratio of electricity generated from renewable sources remains at a low level. The high cost of renewable energy has been blamed for the situation. I think we are falling behind the global trend, where other countries are developing renewable energy. Some people have said the cost of running a coal-fired thermal power plant was low, thus, coal-fired thermal power still plays a major role in generating electricity for the country. Actually, if we take a detailed assessment, we find that the operation of a coal-fired thermal power plant often lasts about 30 years and the costs are not as low as we thought. It is because the source of domestic coal is diminishing in the future. Even thermal power plants have already planned to import coal to meet demand. The question is how we will import coal in the next 2-3 decades when the price of coal is predicted to increase due to limited supply.…... [read more]

The Leaders in Innovation Fellowships programme aims to enhance capacity for scientists, inventors and start-up enterprises in commercialising research results. — Illustration Photo Internet The National Agency for Technology Entrepreneurship and Commercialisation Development announced the fourth Leaders in Innovation Fellowships programme on Friday. The programme is co-operation between the agency, under Vietnamese Ministry of Science and Technology, and the UK’s Royal Academy of Engineering. These grants are provided by the Newton Fund, a UK Government initiative. The programme aims to enhance capacity for scientists, inventors and start-ups in commercialising research results, especially creative and practical solutions which contribute to socio-economic development. It also aims to build an international network among inventors, scientists and businessmen in the field of technology. Fourteen learners will be selected to take part in the two-week programme, which is set to take place in the UK this December. Participants will receive airplane tickets and costs of accommodation and meals. Entrants should submit ideas for their products, inventions or solutions in health and life sciences, agriculture, environmental resilience and energy security, future cities or digital innovation and creativity. Applications must submitted to email address [email protected] before September 14. A workshop to consult and instruct candidates to fulfill application will open in HCM City on August 17 and Ha Noi on August 22. Detailed information will be updated on website www.tsc.gov.vn. — VNS ... [read more]

U.S. President Donald Trump grudgingly signed into law new sanctions against Russia on Wednesday, a move Moscow said amounted to a full-scale trade war and an end to hopes for better ties with the Trump administration. FILE PHOTO: Russia's President Vladimir Putin talks to U.S. President Donald Trump during their bilateral meeting at the G20 summit in Hamburg, Germany July 7, 2017. Congress overwhelmingly approved the legislation last week, passing a measure that conflicts with the Republican president's desire to improve relations with Moscow. Trump signed the bill behind closed doors, without the fanfare that has customarily accompanied his signing of executive orders. He criticized the measure as infringing on his powers to shape foreign policy, and said he could make "far better deals" with governments than Congress can. Russian Prime Minister Dmitry Medvedev called the sanctions tantamount to a "full-scale trade war," adding in a Facebook post that they showed the Trump administration had demonstrated "utter powerlessness." "The hope that our relations with the new American administration would improve is finished," he wrote. Trump's litany of concerns about the sanctions, which also affect Iran and North Korea, raised the question of how vigorously Trump will implement them regarding Russia. "While I favor tough measures to punish and deter aggressive and destabilizing behavior by Iran, North Korea, and Russia, this legislation is significantly flawed," Trump said in a message to lawmakers known as a signing statement. He also issued a statement for the press about the bill. The new law…... [read more]

U.S. President Donald Trump grudgingly signed into law new sanctions against Russia on Wednesday, a move Moscow said amounted to a full-scale trade war and an end to hopes for better ties with the Trump administration. Congress overwhelmingly approved the legislation last week, passing a measure that conflicts with the Republican president's desire to improve relations with Moscow. Trump signed the bill behind closed doors, without the fanfare that has customarily accompanied his signing of executive orders. He criticized the measure as infringing on his powers to shape foreign policy, and said he could make "far better deals" with governments than Congress can. Russian Prime Minister Dmitry Medvedev called the sanctions tantamount to a "full-scale trade war," adding in a Facebook post that they showed the Trump administration had demonstrated "utter powerlessness." "The hope that our relations with the new American administration would improve is finished," he wrote. Trump's litany of concerns about the sanctions, which also affect Iran and North Korea, raised the question of how vigorously Trump will implement them regarding Russia. "While I favor tough measures to punish and deter aggressive and destabilizing behavior by Iran, North Korea, and Russia, this legislation is significantly flawed," Trump said in a message to lawmakers known as a signing statement. He also issued a statement for the press about the bill.   The new law allows Congress, which passed the measure to punish Russia over interference in the 2016 U.S. presidential election and the annexation of Ukraine's Crimea, to…... [read more]

NDO – On the occasion of the 50th anniversary of the ASEAN establishment (August 8, 1967 – 2017), Politburo member, Deputy Prime Minister, and Foreign Minister Pham Binh Minh published an article, emphasising the important contributions of Vietnam to the building of a strong ASEAN Community. Fifty years ago, with ‘the aspiration of building a solid foundation for a joint action to promote the regional cooperation in Southeast Asia in the spirit of equality and partnership and contributing to the peace and progress of the region’, the Association of Southeast Asian Nations (ASEAN) was officially established. During the long and difficult process which was full of many milestones, Vietnam has been proud to be an essential component which has contributed greatly to ASEAN today. The half-century road of ASEAN and historical milestones On August 8, 1967, Foreign Ministers of five Southeast Asian countries signed the Bangkok Declaration which gave birth to ASEAN. The organisation started with only five members including Indonesia, Malaysia, Singapore, Thailand and the Phillipines. Brunei was added to ASEANin 1984; meanwhile Vietnam was admitted in 1995, Lao and Myanmar in 1997 and Cambodia in 1999, finally realising the dream of an ASEAN consisting of all ten Southeast Asian countries. The first ASEAN Summit was held in 1976, demonstrating greater interest and stronger political commitment for ASEAN cooperation. The ASEAN Free Trade Area (AFTA) was established in 1992 as a fruit of the first 25 years of ASEAN economic cooperation, laying out an important foundation…... [read more]

Vietnam plans to spend more than $6 billion to build a strategic petroleum reserve and to expand commercial storage for crude oil and oil products by 2025, according to a document reviewed by Reuters. The Southeast Asian country joins nations such as China and India in establishing an oil buffer to enhance its energy security as crude imports have jumped while domestic production is on the decline. Under the plan, Vietnam plans by 2020 to build strategic petroleum reserves of up to 2.2 million cubic metres of crude oil, or about 13.8 million barrels, equivalent to six days of imports. Strategic oil product reserves by 2020 would total 1.8 million cubic metres, or about 11.3 million barrels, equal to 14 days of fuel imports. Following the approval, the Ministry of Industry and Trade, PetroVietnam and Petrolimex are expected to submit feasibility studies for the projects by September, said a source with knowledge of the matter. Vietnam's prime minister earlier this month approved a plan to build crude and petroleum stocks of at least 90 days worth of net imports by 2020. However, the projects are likely to take longer than expected to materialise given the track record of refinery construction in Vietnam and the big funding requirements for storage projects, said Sri Paravaikkarasu, Head of East of Suez Research at energy consultancy FGE. "Ninety days is a big target even for big countries like China and India which rely heavily on imports," she…... [read more]

Vietnam plans to spend more than US$6 billion to build a strategic petroleum reserve and to expand commercial storage for crude oil and oil products by 2025, according to a document reviewed by Reuters. The Southeast Asian country joins nations such as China and India in establishing an oil buffer to enhance its energy security as crude imports have jumped while domestic production is on the decline. Under the plan, Vietnam plans by 2020 to build strategic petroleum reserves of up to 2.2 million cubic metres of crude oil, or about 13.8 million barrels, equivalent to six days of imports. Strategic oil product reserves by 2020 would total 1.8 million cubic metres, or about 11.3 million barrels, equal to 14 days of fuel imports. Following the approval, the Ministry of Industry and Trade, PetroVietnam and Petrolimex are expected to submit feasibility studies for the projects by September, said a source with knowledge of the matter. Vietnam's prime minister earlier this month approved a plan to build crude and petroleum stocks of at least 90 days worth of net imports by 2020. However, the projects are likely to take longer than expected to materialise given the track record of refinery construction in Vietnam and the big funding requirements for storage projects, said Sri Paravaikkarasu, Head of East of Suez Research at energy consultancy FGE. "Ninety days is a big target even for big countries like China and India which rely heavily on imports," she said.... [read more]




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