Amidst geopolitical shifts and a focus on renewables, Prime Minister Pham Minh Chinh met with the head of Russia's Zarubezhneft to bolster their decades-long oil and gas cooperation and discuss potential wind energy ventures.
Signing of MoU signifies partnership between Vietnam’s foremost State-owned economic group in the energy sector and Denmark’s CIP, a leading global investor and developer of renewable energy projects.
The Vietnam Oil and Gas Group (PetroVietnam) has proposed that the government invest in a refinery and petrochemical complex and a national reserve of crude oil and petroleum products at the Long Son Petroleum Industrial Park in southern Ba Ria-Vung Tau province with total investment of $17-18.5 billion. Completion is expected in 2027.