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Posts Tagged ‘gas’

Ministry agrees to cut import tax on gas

In Uncategorized on December 24, 2010 at 4:25 am




Ministry agrees to cut import tax on gas


QĐND – Tuesday, December 21, 2010, 21:8 (GMT+7)

The Ministry of Finance has cut import tax on gas from 5 percent to 2 percent to stabilise the domestic gas market.


The new tariff came into effect on Dec. 17 and gas retailers PV Gas, Petrolimex Gas, Sai Gon Petro Gas, Vinagas and Gia Dinh Gas immediately cut their retail price by 8,000 VND (0.38 USD) on 12kg canisters.


The move comes at the end of a year when the price of gas in Vietnam rose seven times so far this year. Before the cut, retail prices for canisters ranged from 330,000 VND (15.71 USD) to 360,000 VND (17.14 USD) depending on the brand.


The Vietnam Gas Association originally proposed the tax cut after rises in the world’s gas price led to similar increases on the domestic market.


Gas world prices have raised about 200 USD to roughly 1,000 USD per tonne this month.


The gas association’s chairman Nguyen Sy Thang said dependence on imports makes doing business difficult for gas traders. Without tax cuts, domestic gas prices will continue to rise.


The country currently imports roughly 60 percent of its total gas needs.


Thang also said that the import tax rate of 5 percent had been set by the Ministry of Finance when the world gas price was 200 USD per tonne but with prices now at 1,000 USD per tonne, the previous tax rate was too high.


Earlier this month, the country’s largest gas provider PV Gas offered discounts of 5,000 VND on 12kg canisters to stabilise the domestic gas market. The price cut was made possible by domestic supply from the Dung Quat Oil Refinery.


Source: VNA


Source: QDND

Vietnam to establish university of oil and gas

In Uncategorized on November 27, 2010 at 1:20 pm

PetroVietnam Oil & Gas logo

Prime Minister Nguyen Tan Dung has recently decided to establish the Vietnam University of Oil & Gas, which will be invested by Vietnam National Oil & Gas Group.


The university, located in Vinh Yen City, northern province of Vinh Phuc, will be managed by the Ministry of Education and Training.


The university is expected to supply high quality human resource to the country’s oil industry.


Most of high quality experts working in the country’s oil industry have been trained in foreign countries such as Russia, the US, the UK…

Source: SGGP

Poison gas fears stall New Zealand mine rescue

In Uncategorized on November 20, 2010 at 4:12 pm

VN, Saudi Arabia to boost oil and gas, mineral cooperation

In Uncategorized on June 26, 2010 at 4:45 pm




VN, Saudi Arabia to boost oil and gas, mineral cooperation


QĐND – Saturday, June 26, 2010, 21:15 (GMT+7)

Prime Minister Nguyen Tan Dung on June 23 signed a decision to ratify a protocol inked between the governments of Vietnam and Saudi Arabia on cooperation in oil and gas and mining.


The protocol was signed in the Saudi Arabia’s capital city of Riyadh on April 10 during the State visit by President Nguyen Minh Triet.


The Decision No. 931/QD-TTg will take effect 45 days after its signing.


Source: VNA


Source: QDND

Oil and gas group steps up restructuring plans

In Uncategorized on June 18, 2010 at 8:36 am




Oil and gas group steps up restructuring plans


QĐND – Thursday, June 17, 2010, 20:59 (GMT+7)

The Vietnam National Oil and Gas Group (PVN) is boosting its restructuring to increase its competitiveness in the market while limiting any competition from its subsidiaries. 


According to the head of PVN’s Board of Internal Controllers, Phan Thi Hoa, PVN will only hold 51 percent of the shares of its subsidiary companies that produce strategic products which can affect the national economy.


The group will also reduce its holdings in the PetroVietnam Construction Joint Stock Corporation and the Drilling Mud Joint Stock Corporation to 36 percent, said Hoa. PVN also plans to cut its capital stake in the PetroVietnam Insurance Joint Stock Corporation to 25 percent by 2015.


Moreover, the group is set to complete its transformation from being a holding company to becoming a single-member limited liability company on July 1 in line with the Business Law.


It also plans to turn the PetroVietnam Gas Corporation and the Petec Trading and Investment Corporation into joint stock companies, finish a project to change the Vietsovpetro Joint Venture’s forms of operation and list the shares of several of its subsidiaries on the stock market.


Under the plans, PVN will gradually curb its external investments and focus more on production, said Hoa.


Source: VNA


Source: QDND

Putin proposes merging Gazprom, Ukraine gas firm

In Uncategorized on May 3, 2010 at 8:38 am

Prime Minister Vladimir Putin on Friday stunned observers by proposing a merger between Russia’s Gazprom, the world’s largest gas firm, and Ukrainian state gas company Naftogaz.


The surprise plan infuriated the pro-Western opposition in Ukraine in an already tense domestic political situation and risks alarming the European Union, which has warily eyed Russia’s gas expansion ambitions.


“I have made a proposal… I propose merging Gazprom and Naftogaz,” Putin said following talks in the southern city of Sochi with Ukrainian Prime Minister Mykola Azarov.


Putin’s announcement, broadcast on state television, is the latest move to cement ties between the two countries after Ukraine’s new pro-Kremlin President Viktor Yanukovych came to power earlier this year.


Yanukovych’s defeated rival in presidential elections, Yulia Tymoshenko, swiftly denounced the plan as part of a wider Russian scheme to steal Ukraine’s post-Soviet independence.


“This proposal to merge Gazprom and Naftogaz… could be taken as a joke, if every day an extensive plan to liquidate Ukraine’s independence wasn’t taking shape before our eyes,” she said in a statement.


Gazprom’s chief executive Alexei Miller said that negotiations on this issue would start immediately after national holidays in Russia due to be marked in the first two weeks of May.


“We are ready to examine the possibility of exchanging assets (of Gazprom and Naftogaz). In essence, this is a question of merging the two companies,” said Miller.


Putin’s spokesman Dmitry Peskov insisted that the proposal was “more than serious and well thought out.”


“The proposal emphasises how far the Russian side is prepared to go on the road to integration with its Ukrainian partners,” he told the RIA Novosti news agency.


The deal came days 10 days after Ukraine agreed a landmark accord to keep Russia’s Black Sea Fleet based in Crimea at least until 2042 in exchange for a 30 percent discount on Russian gas exports to its neighbour.


Putin also said that export duties would be scrapped on all gas exports to Ukraine.


Naftogaz and Gazprom were at the centre of a gas dispute between Russia and Ukraine in January 2009, which led to gas supplies being turned off to several EU states in the midst of a bitterly cold winter.


A quarter of the gas consumed in the European Union comes from Russia, 80 percent of which passes through Ukraine.


The deal to extend the stay of the Black Sea Fleet has already provoked howls of protest from pro-Western Ukrainian politicians, who accused Yanukovych of selling out Ukraine’s sovereignty to Russia.


Deputies also staged an unprecedented protest in the Ukrainian parliament, throwing eggs at the speaker and letting off smoke bombs as the agreement was ratified.


Analysts have said Russia is moving quickly to secure its influence over Ukraine after the departure from power of ex-president Viktor Yushchenko whose pro-Western orientation infuriated Moscow.


“Russia’s objective is to take control of the Ukrainian pipelines and they will try to do this in any way,” said Viktor Chumak of the International Centre for Policy Studies in Kiev.


“This merger will allow them to seal this control,” he added.


Gazprom grew out of the former Soviet Union’s Gas Industry Ministry and was part-privatised from 1993, though the Russian state retains a controlling stake of 50 percent. Naftogaz is 100 percent owned by the Ukrainian state.


Analysts have said that Ukraine needed the gas discount from Russia to cut its huge budget deficit and meet the International Monetary Fund’s conditions for releasing a new loan tranche.


Ukraine was hammered by the global financial crisis and Putin said Russian state bank VTB is ready to offer the country a 500 million dollar (376 million euro) loan to help its crisis-hit economy.


 

Source: SGGP

Russia, Ukraine presidents meet to solve gas dispute

In Uncategorized on April 21, 2010 at 8:31 am

Russian President Dmitry Medvedev visits Ukraine Wednesday for the first time since President Viktor Yanukovych took power, hoping to boost improving ties by ending a dispute on gas prices.

Russi’s President Dmitry Medvedev and Ukraine’s President Vicktor Yanukovich

Medvedev and Yanukovych are to hold talks in the northeastern Ukrainian city of Kharkiv, barely 50 kilometres (30 miles) from the Russian border, with officials trumpeting a new era in ties between Moscow and Kiev.


Russian-Ukrainian relations plunged to a post-Soviet low under Yanukovych’s predecessor Viktor Yushchenko, whose staunchly pro-Western policies riled Moscow so much that Medvedev refused to have any dealings with him.


But the election of normally pro-Kremlin Yanukovych in February led to an immediate warming of relations and officials are boasting that this is the fifth high level meeting between the two sides in just two months.


Yanukovych defeated the leaders of the 2004 Orange Revolution who swept to power on promises to build a new future of a prosperous Ukraine in Europe free of Russian influence that deeply troubled the Kremlin.


Yet the process has not been entirely smooth, with Yanukovych seeking to fulfill one of his election promises by pushing for Moscow to slash by a third the price Kiev pays for Russian gas imports.


An agreement may be announced in Kharkiv after officials announced last week that an accord had already been reached at a government level.


The talks are due to start at 1000 GMT with announcements expected at around 1200 GMT.


Gas remains a hugely sensitive issue between Russia and Ukraine after a row in January 2009 led to Russia turning off the taps to Ukraine, which in turn left many European countries short of gas.


The Kremlin confirmed in a statement ahead of the talks that the issue of gas supplies would be discussed as well as the status of the Russian Black Sea fleet which is based in Crimea in southern Ukraine.


The fleet’s lease runs out in 2017 and Russia is keen to ensure it stays at the strategic base after that. Yanukovych has indicated this may be possible, in contrast to the opposition of Yushchenko.

Source: SGGP

Interest rising in CNG as alternative to gas, diesel

In Uncategorized on April 5, 2010 at 9:27 am

As part of efforts to reduce exhaust fumes from industries and vehicles, more Vietnamese businesses and agencies have shown interest in switching to Compressed Natural Gas (CNG) to replace gasoline, diesel and propane.

A driver fills up a taxi with gas in HCMC (Photo: SGGP)

However, converting to the more environmentally friendly fossil fuel has been slow due to the cost of converting old systems to those that can accommodate CNG.


According to reports from the Ministry of Planning and Investment’s Clean Tech Fund, harmful fumes released from industries this year could account for up to 33 percent of total emissions in the country. Meanwhile, electricity production could account for up to 27 percent of total emissions and vehicles could account for 24 percent.


Last year, bus operators in Ho Chi Minh City expressed interest in switching to CNG as the gas is also more cost-effective than regular fuel.


The Sai Gon Passenger Transport Company and HCMC Bus Cooperative Alliance each imported one CNG bus. The former company has also cooperated with PV Gas South Company to invest in special CNG stations and transport vehicles to provide the buses with CNG.


One station has now been built in the southern coastal province of Ba Ria-Vung Tau and is able to meet the fuel demand of 500 buses.


Another station has also been built in the Sai Gon Passenger Transport Company’s campus in District1, HCMC. Five trailers with a capacity to transport 3,760 kilograms of CNG each, are ready for operation.


The Ministry of Transport, its department in HCMC, and CNG providers have also held three seminars to introduce plans for implementing more CNG technology in Vietnam.


Meanwhile, the ministries of Natural Resources and Environment, and Planning and Investment also view the use of CNG as helping the country to cope with climate change.


According to Dr. Nguyen Trung Viet from the HCMC Department of Natural Resources and Environment, the Asian Development Bank (ADB) and other environmental organizations have funded $250 million for a program to increase the use of CNG in Vietnam.


Companies ask for assistance


Le Trung Tinh from the HCMC Department of Transport said that many transport businesses are hesitant about switching to CNG because of the initial cost involved in switching to a system able to accommodate the gas.


Changing engine types would save fuel costs, but the vehicle quality would reduce, he said.


Importing a fleet of new CNG buses is too costly for most operators with the vehicle prices double those of standard gasoline-using ones.


The Sai Gon Passenger Transport Company on March 29 sent the Ministry of Planning and Investment a proposal asking the ministry to approach Prime Minister Nguyen Tan Dung about approving a tax exemption on imported CNG bus engine systems.


The company says it is now waiting for a reply from the Government.


Mr.Tinh said that HCMC now has about 5,000 buses with 1,300 of them in need of modernization.


If authorities help businesses pay for clean-energy buses, the city would be able to convert 1,300 of the buses into more environmentally friendly vehicles.

Source: SGGP

Interest rising in CNG as alternative to gas, diesel

In Uncategorized on April 5, 2010 at 9:20 am

As part of efforts to reduce exhaust fumes from industries and vehicles, more Vietnamese businesses and agencies have shown interest in switching to Compressed Natural Gas (CNG) to replace gasoline, diesel and propane.

A driver fills up a taxi with gas in HCMC (Photo: SGGP)

However, converting to the more environmentally friendly fossil fuel has been slow due to the cost of converting old systems to those that can accommodate CNG.


According to reports from the Ministry of Planning and Investment’s Clean Tech Fund, harmful fumes released from industries this year could account for up to 33 percent of total emissions in the country. Meanwhile, electricity production could account for up to 27 percent of total emissions and vehicles could account for 24 percent.


Last year, bus operators in Ho Chi Minh City expressed interest in switching to CNG as the gas is also more cost-effective than regular fuel.


The Sai Gon Passenger Transport Company and HCMC Bus Cooperative Alliance each imported one CNG bus. The former company has also cooperated with PV Gas South Company to invest in special CNG stations and transport vehicles to provide the buses with CNG.


One station has now been built in the southern coastal province of Ba Ria-Vung Tau and is able to meet the fuel demand of 500 buses.


Another station has also been built in the Sai Gon Passenger Transport Company’s campus in District1, HCMC. Five trailers with a capacity to transport 3,760 kilograms of CNG each, are ready for operation.


The Ministry of Transport, its department in HCMC, and CNG providers have also held three seminars to introduce plans for implementing more CNG technology in Vietnam.


Meanwhile, the ministries of Natural Resources and Environment, and Planning and Investment also view the use of CNG as helping the country to cope with climate change.


According to Dr. Nguyen Trung Viet from the HCMC Department of Natural Resources and Environment, the Asian Development Bank (ADB) and other environmental organizations have funded $250 million for a program to increase the use of CNG in Vietnam.


Companies ask for assistance


Le Trung Tinh from the HCMC Department of Transport said that many transport businesses are hesitant about switching to CNG because of the initial cost involved in switching to a system able to accommodate the gas.


Changing engine types would save fuel costs, but the vehicle quality would reduce, he said.


Importing a fleet of new CNG buses is too costly for most operators with the vehicle prices double those of standard gasoline-using ones.


The Sai Gon Passenger Transport Company on March 29 sent the Ministry of Planning and Investment a proposal asking the ministry to approach Prime Minister Nguyen Tan Dung about approving a tax exemption on imported CNG bus engine systems.


The company says it is now waiting for a reply from the Government.


Mr.Tinh said that HCMC now has about 5,000 buses with 1,300 of them in need of modernization.


If authorities help businesses pay for clean-energy buses, the city would be able to convert 1,300 of the buses into more environmentally friendly vehicles.

Source: SGGP

Energy ministers discuss oil, gas future in Mexico

In Uncategorized on March 31, 2010 at 9:30 am

The world’s largest energy forum opened in Mexico Tuesday, calling for solidarity between oil producing nations and consumers in tackling key sector issues such as price volatility.


The biennial International Energy Forum (IEF) kicked off two days of talks due to conclude with the publication of a ministerial declaration on Wednesday and set to urge joint action in tackling risks to oil price spikes and tumbles.


Opening the 12th IEF forum in the resort of Cancun, Mexico’s Energy Secretary Georgina Kessel called for “a fruitful dialogue between consumers and producers of energy.”


IEF Secretary General Noe van Hulst and Mexican President Felipe Calderon also joined Kessel in highlighting the growing “interdependency” between the two sides.


US Deputy Secretary of Energy Daniel Poneman meanwhile said on the sidelines of the forum that traditional fossil fuels oil and gas still had a vital role to play in meeting consumers’ energy needs.


“Energy is critical to the global economy and oil and gas which have long played such a vital part of the global economy will continue to do so for the foreseeable future,” Poneman told reporters.


“That’s why the United States will continue to seek to assure safe and reliable access to those resources.”


But he acknowledged a need for the United States — the world’s biggest energy consumer — to increase its use of renewables such as biofuels.


“Even if we continue to develop and secure oil and gas resources we recognize that for the sake of our future security and prosperity we must diversify our energy mix,” he said.


In the second half of 2008, supply concerns resulted in crude oil prices surging to record highs of above 147 dollars a barrel before the severe global economic downturn saw them crashing to just 32 dollars.


Oil producing nations and consumers say that speculators played a large role in creating the volatility.


“The last (IEF) meeting was two years ago when oil prices were above 100 dollars a barrel on their way up to 147 dollars and recriminations between producers and consumers were flying around. Now all is sweetness and light,” David Hufton, energy analyst at London-based PVM Oil Associates said Tuesday.


“Everyone now has a common enemy — speculators.”


Prices have steadily recovered over the past 15 months, occasionally spiking a little, such as on Monday when they rallied above 82 dollars as the US currency fell and major oil and gas producer Russia saw deadly suicide attacks on the Moscow metro.


The 12th IEF aims to build on the last forum in Rome in 2008 and two ad hoc meetings in Jeddah and London later that year when oil prices endured their roller-coaster ride.


The IEF is being attended by OPEC, whose member nations, including Saudi Arabia, together pump about 40 percent of the world’s crude.


Also present is the International Energy Agency, which represents consumers as the energy-monitoring arm of the OECD grouping of the world’s 30 leading industrialized nations.


Running alongside the IEF in Cancun is the 4th International Energy Business Forum (IEBF), to be attended by 36 companies, including bosses of oil majors China National Petroleum Corp (CNPC), ExxonMobil and Royal Dutch Shell.


A total 64 countries were expected to send ministers to attend the meeting.



 

Source: SGGP