PetroVietnam signs deals on Sao Vang-Dai Nguyet gas field exploitation A series of trade agreements on exploiting the Sao Vang-Dai Nguyet gas field was inked between the Vietnam National Oil and Gas Group (PetroVietnam) and its partners in Hanoi on July 31. The agreements included a gas sales and purchase and a gas supply agreement. The stakeholder participation in the Petroleum Sharing Contract includes the operator Idemitsu Kosan Co Ltd with 43.08 percent; Teikoku Oil (Con Son) Co Ltd, 36.92 percent; and PetroVietnam, 20 percent. Speaking at the signing ceremony, PVN General Director Nguyen Vu Truong Son said the signing of trade agreements achieved after over two years of negotiations among sides involved. He said the event is very significant for the gas filed to turn out the first flow of oil and gas in the third quarter of 2020, with an estimated annual output of 1.5 billion cubic metres of gas and of 2.8 million barrels of crude oil and natural-gas condensate. The … [Read more...] about BUSINESS NEWS IN BRIEF 4/8
Slightly used cars philippines
Siemens eyes Asia as key market for advanced turbine sales
Prime Minister Nguyen Xuan Phuc (third right) looks at an F- class turbine - the engine has been selected for Vietnam’s Nhon Trach 2 power plant in Dong Nai Province. He was on a visit to Siemens’ turbine plant in Berlin in July 2017.- Photo Siemens Thomas Hagedorn, head of sales for the Asia and Pacific region of the Siemens power and gas division, said Siemens’s latest HL-class turbines would be the right solution for many countries in Asia. Bloomberg’s 2017 energy outlook forecasts the continent will need to have the world’s highest power by 2040 to meet development demands. Introduced to the market last September, the HL-class gas turbines combine a series of new but tested technologies to enhance the efficiency of combined cycle gas turbines (CCGT) to beyond 63 per cent. With a mid-term goal to reach CCGT efficiency of 65 per cent, Siemens may surpass its arch rival GE, which announced in March this year its most efficient combined cycle gas … [Read more...] about Siemens eyes Asia as key market for advanced turbine sales
Japanese investors still looking for Vietnamese manufacturers
VietNamNet Bridge - Japanese investors attach high importance to expanding their investments in Vietnam. However, the localization ratio of their products remains modest, at 34 percent, much lower than that in other regional countries. However, they have faced problems in doing this, partially because of the weak local supporting industries. Atsusuke Kawada, JETRO’s Chief Representative in Vietnam, said at the opening ceremony of the 2017 Japan Parts & Processing Exhibition that 70 percent of Japanese enterprises are meeting difficulties in looking for local part and accessory suppliers. “Though the locally made content ratio has increased to 34 percent, product localization remains a big problem for Japanese enterprises in the manufacturing sector,” he said. Japanese investors attach high importance to expanding their investments in Vietnam. However, the localization ratio of their products remains modest, at 34 percent, much lower than that in other regional … [Read more...] about Japanese investors still looking for Vietnamese manufacturers
BUSINESS NEWS 2/3
Opportunity arises for orange exports to Indonesia Indonesia will become an important market for Vietnamese orange exporters as Indonesian oranges have fallen out of favour in the domestic market, according to the Vietnam Trade Office in Indonesia. Indonesian oranges are less sweet and their skins are paler compared with foreign oranges, the office said. In addition, imported oranges are sold at the competitive price of 28,000 rupiahs (2.09 USD) per kilogramme while consumers have to pay 24,000 rupiahs (1.79 USD) for one kilogramme of domestic oranges. Vietnamese orange exporters were recommended to research exporting to Indonesia. Vietnam's total fruit and vegetables export value reached 2.4 billion USD in 2016. The value is expected to increase to 3 billion USD this year. Vietnamese fruits and vegetables have been exported to 60 countries and territories worldwide. Indonesia is among major importers of Vietnamese fruits and vegetables. Bao Viet signs co-operation agreement with … [Read more...] about BUSINESS NEWS 2/3
Understanding Trump’s Asia-Pacific foreign policy
Editor’s note: Dr. Terry F. Buss, a fellow of the U.S. National Academy of Public Administration, discusses the possible Asia-Pacific foreign policy of President Donald Trump, who officially takes office on Friday, in this piece written exclusively for Tuoi Tre News. Editor’s note: Dr. Terry F. Buss, a fellow of the U.S. National Academy of Public Administration, discusses the possible Asia-Pacific foreign policy of President Donald Trump, who officially takes office on Friday, in this piece written exclusively for Tuoi Tre News. President Donald Trump’s foreign policy is an enigma. He has few policy papers available for analysis; he has no track record in public office; he has published little about his opinions; and his cabinet appointees are not known for foreign policy expertise. Trump’s policies originate from off-the-cuff remarks at political rallies and in media interviews. Tweets capturing Trump’s policy in 140 characters abound. Policies are … [Read more...] about Understanding Trump’s Asia-Pacific foreign policy