Vietnam

The Electricity of Vietnam (EVN) and Vietnam Petroleum Corporation (Petrolimex) reported their achievements and sought price increases instead of explaining issues on business losses and profits at the conference to launch 2012 industry and trade missions held on Jan 3 in Hanoi. Bui Ngoc Bao, Chairman of Petrolimex explained that in 2011, price impacts seemed to be stable but it was the year with a lot of sudden changes in petrol prices. Despite crude oil price was lower, imported product prices jumped to the record high. Compared with 2008, the price of diesel surged 40% while that of gasoline soared 17% in 2011. 2011 was the first year with the least number of times to adjust petrol prices, he added. There should have been over 11 new petrol price adjustments to catch market prices, but factually the number was 3 times only. Total business revenue of Petrolimex last year reached 177 trillion dong, state budgetary contribution at 24 trillion dong, loss of 2.5 trillion dong (the loss from forex rate spread accounted for 1.5 trillion dong). However, the firm’s pre-tax profit has not been announced because of a number of other reasons. So, Bao said, oil is estimated at $97 a barrel in 2012, equaling to 2011 but price pressure will likely increase. Regarding business, Petrolimex proposed Ministry of Finance’s approval to take account in line with the whole industry instead of the independent accounting between the holding company and affiliates. Meanwhile, Pham Le Thanh—General Director of EVN emphasized that his firm fulfilled the electricity supply plan and invested over 63 trillion dong in new power sources, subsidize more than 400 billion dong to the poor households. He also proposed to apply electricity price adjustments to call for investment without elaboration on average income of 13.7 million dong/month per EVN employee as posted recently by the press. At the conference, Prime Minister Nguyen Tan Dung requested Minister of Industry and Trade Vu Huy Hoang to have direct talk with people about the trade of electricity and petroleum and disclose electricity and petrol prices, losses and profits of two giants. As reported by Ministry of Industry and Trade, the monthly average income of SOEs under the ministry in 2010 and 2011 was hereafter: 8.3 million dong and 8.6 million dong respectively at EVN, 7.5 million and 7.7 million dong at Vinacomin, 15.1 million dong and 16.2 million dong at PetroVietnam, 9.8 million dong (in both 2010 and 2011) at Sabeco. In other SOEs, the employee income ranged between 3 and 6 million dong per month.

The Electricity of Vietnam (EVN) and Vietnam Petroleum Corporation (Petrolimex) reported their achievements and sought price increases instead of explaining issues on business losses and profits at the conference to launch 2012 industry and trade missions held on Jan 3 in Hanoi. Bui Ngoc Bao, Chairman of Petrolimex explained that in 2011, price impacts seemed to be stable but it was the year with a lot of sudden changes in petrol prices. Despite crude oil price was lower, imported product prices jumped to the record high. Compared with 2008, the price of diesel surged 40% while that of gasoline soared 17% in 2011. 2011 was the first year with the least number of times to adjust petrol prices, he added. There should have been over 11 new petrol price adjustments to catch market prices, but factually the number was 3 times only. Total business revenue of Petrolimex last year reached 177 trillion dong, state budgetary contribution at 24 trillion dong, loss of 2.5 trillion dong (the loss from forex rate spread accounted for 1.5 trillion dong). However, the firm’s pre-tax profit has not been announced because of a number of other reasons. So, Bao said, oil is estimated at $97 a barrel in 2012, equaling to 2011 but price pressure will likely increase. Regarding business, Petrolimex proposed Ministry of Finance’s approval to take account in line with the whole industry instead of the independent accounting between the holding company and affiliates. Meanwhile, Pham Le Thanh—General Director of EVN emphasized that his firm fulfilled the electricity supply plan and invested over 63 trillion dong in new power sources, subsidize more than 400 billion dong to the poor households. He also proposed to apply electricity price adjustments to call for investment without elaboration on average income of 13.7 million dong/month per EVN employee as posted recently by the press. At the conference, Prime Minister Nguyen Tan Dung requested Minister of Industry and Trade Vu Huy Hoang to have direct talk with people about the trade of electricity and petroleum and disclose electricity and petrol prices, losses and profits of two giants. As reported by Ministry of Industry and Trade, the monthly average income of SOEs under the ministry in 2010 and 2011 was hereafter: 8.3 million dong and 8.6 million dong respectively at EVN, 7.5 million and 7.7 million dong at Vinacomin, 15.1 million dong and 16.2 million dong at PetroVietnam, 9.8 million dong (in both 2010 and 2011) at Sabeco. In other SOEs, the employee income ranged between 3 and 6 million dong per month.

Viet Nam should join the growing trend of constructing environmentally-friendly buildings as an important step towards sustainable development, experts said a conference on Thursday, Nov 17. The second Green Conference, jointly organised by Kohler Viet Nam and HCM City Association of Architects, attracted more than 200 delegates representing property developers, architects, and design consultancy firms. 338614d88_giobaclieu.jpg Nguyen Truong Luu, deputy chairman of the HCM City Association of Architects said the green factor was indispensable, so property developers need to have a thorough understanding of the "green" concept and apply its standards in their construction projects. A green building will conserve resources, including energy, land, water and construction materials, limit pollution, protect the environment, help safeguard the health of community, said Prof. Nguyen Huu Dung of the Viet Nam Institute of Urban and Industry Environment. Participants stressed the need to pay special attention to installing wastewater treatment systems, minimising waste discharge and ensuring the quality of internal and external environments by reducing pollution to the maximum. Dung noted that environmental degradation as a result of wastewater discharge had reached alarming proportions at the moment, particularly in industrial parks, urban areas and buildings in HCM City and Ha Noi. There is an evident shortage of onsite wastewater treatment plants in many residential compounds, new townships, building towers and commercial complexes, he said. These places discharge untreated wastewater directly into the environment, he said. ‘Get serious' Dung informed the seminar of updated information about current water treatment regulations including Decision No 88 adjusting environmental fees for domestic wastewater generation and discharge in HCM City. He said the fees should be steep enough to deter violations. Joseph Azzarello, senior staff engineer at Kohler Co. a US-based firm that makes sanitary fittings, electric generators and small engines, said Viet Nam was a dynamic market with a strong growth rate that should seriously target building green buildings. He said Vietnamese builders and investors should seek the Leadership in Energy and Environmental Design (LEED) certification, a leading-edge system devised by the US Green Building Council. The LEED standard consists of a suite of rating systems for the design, construction and operation of green buildings. Green buildings have not only helped protect environment, but also brought an increase in return of investment for investors, Azzarello said. Nguyen Van Tat, deputy chairman of Viet Nam Association of Architects, said developers were concerned that applying sustainable technology in their projects would require more investment, raising it to two or three times the normal capital outlay. However, they should think of the advantages environmentally-friendly buildings confer, especially for large-scale projects, he said.

Mahagenco wants to convert loss-incurring thermal power stations/units into profit-making ones.  

An agreement has been adopted on cooperating, developing and using nuclear energy for peaceful purposes between Japan and several countries.

Vietnam's Ninh Thuan Province is treating its two nuclear power projects as a catalyst to attract more investments.

ADB has approved a US$309.89 million loan for the construction of 750MW O Mon Power Plant 4 in Can Tho Province, Vietnam.

Vietnam is seeking loans from international finance organisations and domestic commercial banks to fund power transmission projects.

Construction of the Nam-Enfinity renewable energy project in Ninh Thuan province will be delayed to late 2012 due to land costs.

And you'll never guess how much loan ADB approved for the project.

There are plans to increase electricity prices in Vietnam by 4.6% in 2012.

ADB  has approved a $309.9 million loan for a new power plant in Vietnam's Mekong Delta.

Vietnam and Laos have agreed to cooperate in developing power projects.

Guess which country agreed to lend as much as $9b for the project?

Honeywell will work on Hoang Long Joint Operating Company's H-04 wellhead platform in the Te Giac Trang Field.

Mekong River nations will meet on December 7 to decide whether to endorse the project.