Day: August 15, 2022

Despite various difficulties, the Vietnam National Oil and Gas Group (PetroVietnam) has rolled out measures to keep operations buoyant in the current situation and to engage in energy transition based on the future of the industry.

According to the firm, the electrification sector has been greatly impacted by the growth of renewable energy sources. Meanwhile, liquefied natural gas (LNG) power projects under construction must develop a plan for conversion to hydrogen fuel.

Gasoline demand in Vietnam is forecast to continue to increase and peak in 2030-2035, while the diesel oil (DO) market is likely to be affected more slowly, and the DO supply shortage is forecast to continue until 2035.

According to Binh Son Refining and Petrochemical Joint Stock Company (BSR), in the short term, energy transition has not had a clear impact on the demand for petroleum products in Vietnam. However, in the long term, it is happening globally, leading to a decrease in the demand for petroleum products.

This is a challenge for refineries to enhance the quality of their products and reduce the ratio of traditional fuels in their products and promote the development of environmentally-friendly products.

Regarding oil and gas exploration and production, oil production peaked in 2005 and is on the verge of a sharp decline. Meanwhile, even with the scenario of net zero emissions by 2050, oil is still used for non-energy purposes and in sectors that are difficult to replace fuel such as the aviation industry and sea transport. In particular, gas production is forecast to increase rapidly, but low-cost gas sources are harder to find, while new gas sources are expensive and have to compete with LNG.

As of the end of June, about 40 countries had released strategies and roadmaps on hydrogen, including leading countries in greenhouse gas emissions such as China, the US, India, Russia, and Japan. Currently, 98% of the world’s hydrogen is produced from gas and coal used in oil and chemical refining.

Recently, PetroVietnam signed a memorandum of understanding with the Asian Development Bank (ADB) on cooperation in energy transition.

Meanwhile, the firm has implemented 12 major tasks related to renewable energy, greenhouse gas emission reduction, economical and efficient use of energy, hydrogen, ammonia, battery/charging systems, energy storage, coal-fueled power plant greening, and Carbon Capture, Usage and Storage (CCUS).

PetroVietnam General Director Le Manh Hung said that the firm has begun implementing the roadmap related to energy transition from 2019, but the process must be based on the national target.

Therefore, with the tasks in exploration and production, PetroVietnam will focus on implementing solutions to accelerate the exploration and exploitation of oil and gas, while considering the use of renewable energy in oil and gas exploitation activities, he said.

PetroVietnam pumped 5.48 million tonnes of crude oil in the first six months of this year, surpassing the set target by 23%.

Meanwhile, gasoline production exceeded 14% of the plan, fertiliser production exceeded 8% of the plan, production and supply of gas, electricity and other energy products is also up.

The group’s revenue in the period was estimated at 468.3 trillion VND (20 billion USD), up 55% year-on-year and double the goal set for six months.

It contributed 66.1 trillion VND to the State budget, 2.2 times higher than the half-year plan and an increase of 41% compared to the same period last year.

This is considered a remarkable achievement in a context of global geopolitical and economic instability, caused by the conflict in Ukraine, increased inflationary pressures and China’s Zero COVID policy.

In 2021, PetroVietnam was listed among the three biggest companies in Vietnam behind Samsung Vietnam and Vietnam Electricity (EVN), according to the VNR500 rankings unveiled by Vietnam Report JSC.

The rankings were compiled based mainly on enterprise revenue and other performance criteria such as total assets, employees, growth rates, profits, and prestige in the media.

PetroVietnam posted revenue of 620.2 trillion VND last year, surpassing the yearly plan by 26.4%, and up 28% year-on-year./.

Source: Vietnam News Agency

The Vietnam Maritime Administration is gathering comments on a proposed set of criteria for recognising green ports.

The criteria are expected to push port-managing firms to embrace green development, improving their competitiveness and ensuring sustainability. A green assessment will be carried out every three years.

The first criterion is that the firms strictly comply with environmental regulations specified in Vietnam’s legal documents and international agreements of which Vietnam is a member.

Additionally, the firms must closely monitor their port construction and operation and make frequent reports on their environmental impacts.

The second criterion comprises three sub-criteria with specific max points assigned to each.

Under the Commitment sub-criterion, port-managing firms get 0.75 points once they have a ‘Strategy for Green Ports,’ finance for the strategy and annual reports on its development.

The firms get an additional 0.5 points if they launch campaigns to raise awareness about green ports and promote their popularity. The maximum points for the sub-criterion are 1.25 points.

The Action sub-criterion assigns 0.375 points to firms that commit themselves to clean energy, including solar and wind energy, 0.5 points to their efficient use of power and electricity, and 0.25 points to their switch to environment-friendly materials.

Their efforts to reduce air and noise pollution and improve waste treatment will earn 0.625 points. Green management, which involves an Environmental Management System and an ISO-certified Occupational Health and Safety System, brings another 0.375 points.

Their incorporation of information technology into ports’ operation, including online payments, e-invoices, e-port and mobile apps, would add 0.375 points to their score. The maximum points for Action are 2.5 points.

Under the Outcome sub-criterion, port-managing firms earn a maximum of 1.25 points if their efforts at environmental protection and efficient use of energy produce exceptional outcomes.

After the green assessment, the firms are classified according to their total points into bad, poor, average, good and excellent.

Firms under the bad category are believed to “make no efforts to develop green ports” whereas those under the poor category “make little efforts” to do so.

The average category comprises firms that “adequately engage in green ports development.”

Meanwhile, the good category involves firms that “systematically promote green ports” and the excellent category involves ones that “incorporate management systems and technologies into green ports development.”

Tan Cang Cat Lai is the first port in Vietnam to be recognised as a green port by the APEC Port Services Network.

The port has replaced its diesel-powered lifting equipment with electricity-powered equipment to cut fuel costs by 2 million USD per year.

The use of e-documents has also allowed it to cut queuing time from 13 to 6 mins for each vehicle and saved its employees dealing with around 50,000 papers per day.

The authorities expect that all ports in Vietnam will compulsorily go green from 2030./.

Source: Vietnam News Agency

A European Union website has documented the 50-year history of the Vietnam-India relationship in a new article, saying it is “as clear as a cloudless sky” as remarked by late Prime Minister Pham Van Dong more than four decades ago.

The late PM’s statement has stood the test of time, given that now the two countries celebrate the 50th anniversary of the establishment of diplomatic ties, according to moderndiplomacy.eu.

“There is a constant reiteration of Vietnam’s role in India’s Act East Policy and its Indo-Pacific Vision which is cemented by bilateral relations in all fields including but not limited to economy, trade, defence and tourism,” it said.

From “Bilateral Relations” to “Strategic Partnership” to now a “Comprehensive Strategic Partnership”, the two countries have always shared close diplomatic ties which is a result of their shared experience of national struggles for independence. Despite having different political systems, there has been numerous high-level diplomatic visits and India has time and again played a key role in supporting Vietnam’s independence and unification or committing to providing assistance in advancing Vietnam’s defence in the present decade.

“Vietnam is a vital and strategic partner for India, and as commented by Ambassador Pham Sanh Chau, India has become one of Vietnam’s top three partners as a comprehensive strategic partner along with Russia and China, but India-Vietnam diplomatic relations are stronger,” the article stressed.

India’s Indo-Pacific Vision is positive and inclusive of nations and beyond who have a stake in it. ASEAN centrality and unity is an important element of the vision. Vietnam yet again plays a key role in the region and in India’s vision, especially with respect to the area of East Sea.

It highlighted economic and trade cooperation as a very important part of India-Vietnam relations, noting that India is the most important market for Vietnam, accounting for 80% of Vietnam’s total trade with South Asian nations. India’s Lok Sabha Speaker Om Birla mentioned the desire to increase bilateral trade to reach 15 billion USD from the previous 13.2 billion USD, while admiring the growth of Vietnam in a variety of economic sectors.

Currently the two countries are implementing the 2021-2023 Action Programme that aims to implement all the agreements and discussions that took place in official meetings.

It reiterated that “the relationship is a longstanding one with deep understanding of each other’s needs and a mutual sense of respect. With a pending invite for Indian Prime Minister Narendra Modi and policies that expand years, the sky continues to be as clear as it was in 1980”./.

Source: Vietnam News Agency

The Tan Thuan CMC Data Centre, considered the most modern and safest data centre and cloud computing infrastructure facility in Vietnam, officially opened on August 15.

With investment of 1.5 trillion VND (64 million USD) from the CMC technology group, the centre covers 13,000 sq.m. at Tan Thuan Export Processing Zone in District 7, Ho Chi Minh City. It was designed by B-Barcelona of Singapore and meets strict international standards for a modern data centre.

Addressing the opening ceremony, President Nguyen Xuan Phuc repeated the goal of developing HCM City into a high-quality service, modern technology, and advanced cultural hub that can take the lead in developing the digital economy and society.

To that end, the direct engagement of strong, visionary and enthusiastic tech companies like CMC is highly important, he said, calling on businesses to mobilise resources to help HCM City quickly become a major centre for artificial intelligence and big data in Vietnam and the region.

The State leader applauded CMC’s strong investment and impressive progress in the IT sector, describing the Tan Thuan Data Centre – its third data centre that is comparable to others in Southeast Asia – as a proud stride.

The firm should pay special attention to forming professional and high-quality personnel and increasing cooperation with other technology businesses to develop digital technology infrastructure and manpower, he noted, expressing his hope that the centre will be the “heart” of digital transformation services for the Government, the city, as well as domestic and foreign clients.

The President took this occasion to ask ministries and sectors to create breakthrough mechanisms to facilitate investment in digital transformation and application of digital technology in enterprises, thus helping turn Vietnam into a digital hub in Asia-Pacific./.

Source: Vietnam News Agency

Palestinian Ambassador to Vietnam Saadi Salama has showed his appreciation to the Hanoi Union of Friendship Organisations and the Vietnam-Palestine Friendship Association’s Hanoi chapter (VPFA Hanoi) for bringing people from the two countries closer to each other and enhancing mutual understanding.

He made the statement at the third congress of the VPFA Hanoi for the 2022 – 2027 tenure on August 15, during which the unit reviewed its performance and mapped out plans for the next term.

The Palestinian people highly value their solidarity and friendship with the Vietnamese, he said, adding that it provides a motivation for Palestine to believe in the future and continue development.

He vowed that the Embassy of Palestine will together work with the two organisations to promote cultural and people-to-people exchange and strengthen friendship between the two countries in the coming time.

Permanent Vice Chairman of the Hanoi Union of Friendship Organisations Tran Thi Phuong hailed VPFA Hanoi for its performance during the previous term and put forward several key recommendations for it to do over the next five years.

She urged further promotion of the Vietnam-Palestine relations on mass media to boost mutual understanding between their people and suggested VPFA Hanoi maintain close coordination with the Embassy of Palestine in organising events for peace and friendship, expand cooperation with people’s and friendship organisations in Palestine, and step up ties in economy, culture, education, tourism and others.

The congress later elected Le Phuoc Minh, Director of the Institute for Africa and Middle East Studies, as the new Chairman of VPFA Hanoi for the 2022 – 2027 tenure./.

Source: Vietnam News Agency

Spokeswoman of the Ministry of Foreign Affairs Le Thi Thu Hang on August 15 provided an update on the citizen protection work in the fire in Manchester, the UK, where a victim has been identified as a Vietnamese national.

According to the Vietnamese Embassy in the UK, Greater Manchester Police announced on August 12 that they had identified one victim in the fire in Oldham town through fingerprint analysis. This is one of the four Vietnamese citizens previously reported missing in the UK.

The scene examination and identification of other victims are still underway.

Hang said as soon as receiving the information, the Foreign Ministry’s Consular Department sent condolences to the bereaved family and guided them to carry out necessary procedures.

The Foreign Ministry will continue coordinating closely with authorities of the two countries to assist the bereaved family to handle the next steps, quickly complete the identification of other victims, and step up investigation so as to ensure the rights and legitimate interests of Vietnamese citizens, she noted./.

Source: Vietnam News Agency

More than 66,500 people tested their knowledge on the history of the special Vietnam-Laos relations during the ninth week of an online quiz, from 4pm on August 8 to 3pm on August 15.

A majority of the contestants, or over 66,400, came from Vietnam while the remainders were from Laos and other countries, according to the organising board of the quiz on the Vietnam-Laos ties.

Le Anh Quyet, a teacher from the Quang Tung Junior High School in Quang Trach, Quang Binh, won the first prize of the week. Other two junior high school teachers, also in Quang Trach, were honoured with the second prizes.

Nghe An led the nation in the number of contestants of the week, followed by Ho Chi Minh City, Hanoi, Ha Nam and Quang Ninh.

The contest forms part of activities to mark the Vietnam – Laos and Laos – Vietnam Solidarity and Friendship Year 2022, the 60th anniversary of diplomatic ties (September 5, 1962 – 2022), and 45 years of the signing of the Treaty of Amity and Cooperation (July 18, 1977 – 2022).

The quiz is available weekly on the Communist Party of Vietnam’s e-newspaper (dangcongsan.vn) and social network VCNet until September 5.

Each week, there are one first prize worth 3 million VND (128.3 USD), two second prizes worth 2 million VND each, and five third ones worth 1 million VND each.

All Vietnamese and foreign nationals aged 14 and above are eligible to participate in the competition./.

Source: Vietnam News Agency

Germany will temporarily recognise Vietnam’s new passport version with information about holders’ place of birth added in the appendix, according to a diplomatic note the German Federal Foreign Office sent to the Vietnamese Embassy on August 15.

That also means Germany will grant visas on the new passports supplemented with birthplace information and allow their holders to enter this country.

Chu Tuan Duc, Minister Counsellor of the embassy, said the German authorities also hope Vietnam will take measures for facilitating and ensuring safety for travel between the two countries, and that the two sides will keep exchanging information about measures Vietnam will carry out in the time ahead.

He added the embassy is still working to add birthplace information to the new passports free of charge to create favourable conditions for Vietnamese citizens when they need to handle related procedures at German agencies.

Earlier, replying to questions from Vietnam News Agency, the German Federal Foreign Office and Federal Department of Home Affairs had said authorities of Germany are actively working and examining the new passport version of Vietnam, affirming that like Vietnam, Germany also pays great attention to the facilitation and safety of travel between the two countries./.

Source: Vietnam News Agency