During an Arria-formula online meeting of the UN Security Council member states which was co-chaired by the U.K., the U.S., Estonia, France, Ireland and Norway on April 9, Ambassador Quy urged supporting the role of the Special Envoy of the UN Secretary General on Myanmar and creating favourable conditions for the envoy's working trip to Myanmar. He stressed the top priority to ensuring life, security and safety of all, and unobstructed humanitarian aid to those in need of help, especially vulnerable groups in society. He called on parties concerned in Myamar to refrain from violent acts, conduct dialogues and reconciliation acccording to will and aspirations of the people, for the sake of peace and stability in the region. Quy affirmed that Myanmar is a member state of the ASEAN family and the bloc is ready to help the country in a constructive and peaceful manner via related mechanisms. ASEAN member states, including Vietnam, has been working with parties concerned in Myanmar to promote dialogue and seek solutions to the issue, he said. He also called on the international community to support ASEAN’s efforts and stance, and wished that discussions at the UN and relevant important issues need consultations with ASEAN member countries and others in the region. Rapporteurs at the event expressed concern over the current situation in Myanmar and warned of the risks of economic, food and health crises as well as a civil war. Many opinions called for refraining from violence and preventing tension escalation, while proposing to settle differences and disputes via dialogue and reconciliation that meet Myanmar people’s aspirations. Arria-formula meeting is an informal meeting of the UN Security Council to discuss important and emerging issues with the participation of countries in and outside the UNSC as well as related organisations. Source: VNA …
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PetroVietnam outperforms business targets in first quarter
PetroVietnam's first-quarter online meeting connected different locations On April 7, 2021 PetroVietnam hosted a periodical online meeting with leaders of its member units to review production and business activities in March and the first quarter, as well as discuss operation plans in April and in the upcoming quarters. The meeting was presided over by PetroVietnam CEO Le Manh Hung, with the presence of chairman of the Members' Council Hoang Quoc Vuong, other executives of the group and leaders of related member units. Seventeen out of its 22 units have been operating profitably, among them 12 out of 17 units posted fair growth compared to similar period in 2020. The leaders heard that in the first quarter of this year, PetroVietnam outperformed all consolidated financial targets, with the group contributing more than VND19 trillion($826 million) to the state coffers, reaching 118 per cent of the quarter’s set projection and up 3 per cent on-year. 17 out of its 22 units have been operating profitably, and 12 of these 17 units posted fair growth compared to the same period in 2020. To post such positive results, the units have taken drastic cost-saving measures, helping to curtail as much as VND2.835 trillion ($123.26 million) in operating costs. In the whole first quarter, PetroVietnam has closely followed its set plans and targets in production and business activities. Other facets such as ensuring oil and gas security, participating in the building of related policies and mechanisms and the revision of the new Law on Petroleum, or cultivating business culture at the workplace have reached the set plans. All member units belonging to PetroVietnam have managed stable production and business with absolute safety. PetroVietnam chairman Hoang Quoc Vuong delivering remarks at the online meeting Delivering remarks at the online meeting, PetroVitnam chairman Hoang Quoc Vuong praised the Board of Management and member units for …
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Arduous path to LNG success
GE's latest 9HA.02 turbine is accelerating the shift to LNG After a wave of investment in solar and wind power over the past two years, Vietnam is now witnessing strong interest in the field of electricity generated with the use of liquefied natural gas (LNG). A report by the Institute for Energy Economics and Financial Analysis (IEEFA) published in January stated that Vietnam has quickly become one of the most promising LNG import markets in Asia, and many domestic and international investors have expressed their desire to pursue projects in the country. They are encouraged by changes in government management that no longer sees coal-fired thermal power as the centre of the power system, as well as the rapid growth of renewable energy in the nation’s power structure. As such, investors have actively portrayed LNG as a cleaner source to replace coal and argue that gas-fired power units will be one of the main power sources required to feed public demand and supplement unstable renewable sources. The IEEFA report also stated, “Vietnam’s electricity industry has never seen a wave of investors expressing so much interest as they do now, that – with the accompanying diplomatic pressure – remains unprecedented in the country’s history.” Interest in LNG power may also be related to Resolution No.55/NQ-BCT on the orientation of Vietnam’s National Power Development Plan (PDP8), which emphasises the rapid development of LNG thermal power plants. However, at the same time, experts advise that priority must be given to developing LNG import and distribution infrastructures. According to the nation’s target until 2030, Vietnam must import 8 billion cubic metres of LNG per year, while the current rate is zero. The focus on LNG power generation is also attributed to its advantages, such as ensuring a stable power supply and minimising the impacts on the environment. “The third draft of the PDP8 for the period 2021-2030, with a vision to 2045, is proposing to …