23 tháng 1, 2024
Prime Minister Invites Romanian Companies to Invest in Vietnam's Oil and Gas Projects

During his visit to Romania on January 21, Prime Minister Pham Minh Chinh invited businesses from Prahova, Romania's leading industrial and oil and gas center, to invest in and transfer technology for Vietnam’s oil and gas projects.
In Prahova, the Prime Minister highlighted that Vietnam is expanding several oil refineries, constructing gas-fired power plants, and investing in the oil and gas sector. He described this as an opportunity for Prahova businesses to collaborate with Vietnam.
“We are ready to cooperate. Romanian businesses, particularly those from Prahova, can invest, support technology transfer, and provide human resources and equipment in the oil and gas sector,” the Prime Minister said.
He emphasized that this collaboration would invigorate existing dynamics and promote cooperation in emerging areas between the two countries.
Prahova is Romania's leading industrial and oil and gas hub, housing the country’s first oil refinery and the Petroleum-Gas University of Ploiesti. Hundreds of Vietnamese engineers have graduated from the Bucharest Petroleum and Geology Institute and the Petroleum-Gas University of Ploiesti.
Currently, Vietnam operates two oil refineries: Dung Quat and Nghi Son. In 2022, the Vietnam Oil and Gas Group (PVN) proposed the government invest in a petrochemical complex and national crude oil reserve and fuel products at the Long Son Oil and Gas Industrial Zone (Ba Ria - Vung Tau), with a total investment of approximately $18.5 billion over two phases.
Vietnam also plans to develop over 30,420 MW of gas-fired power by 2030, according to the VIII Power Plan. LNG-fired power plants will account for about 74% of this capacity, equivalent to more than 22,500 MW.
In his discussion with Prahova businesses, Prime Minister Pham Minh Chinh mentioned that trust is an advantage given the strong cooperation between the two countries, with the main barrier being geographical distance. However, this challenge can be overcome in today’s interconnected world with advancements in technology and digital transformation. “Five to ten years ago, we needed to meet in person; now we can work online,” he noted.
Source: Vietstock
Related Posts
Since September, with the introduction of various stimulus policies, China's policymakers made significant efforts, and the growth rate of broad fiscal expenditure and deficit has significantly accelerated.
LG shadow debt swap plan helps to improve fundamentals and market liquidity
23 thg 12, 2024
The US has a huge growing path dependence on the current global economic model, which, in our view, Trump can hardly change. For example, Trump repeatedly advocates "manufacturing back to the US" and "MAGA" starting his first term of office.
Growing path dependence and political divergent risks in the US will remain unsolvable
Related Posts
Comex copper prices have risen due to trader speculation about potential U.S. tariffs, while LME prices have seen a more modest increase.
Will U.S. Tariffs Disrupt Copper and Aluminum Markets?

Since September, with the introduction of various stimulus policies, China's policymakers made significant efforts, and the growth rate of broad fiscal expenditure and deficit has significantly accelerated.
LG shadow debt swap plan helps to improve fundamentals and market liquidity

23 thg 12, 2024
The US has a huge growing path dependence on the current global economic model, which, in our view, Trump can hardly change. For example, Trump repeatedly advocates "manufacturing back to the US" and "MAGA" starting his first term of office.
Growing path dependence and political divergent risks in the US will remain unsolvable

18 thg 12, 2024
For China's exports, Trump's coming to power does not imply that there is no risk.
No need to overly worry about the impact of Trump tariffs on China's exports next year
