The process of transitioning from fossil fuel energy such as oil and gas to renewable energy forms like wind and solar is creating many challenges for the oil and gas industry. But the greatest challenge is attracting more FDI. The upcoming draft Law on Petroleum is expected to remove these difficulties, helping the oil and gas industry turn “risk” into “opportunity”.
Prime Minister Pham Minh Chinh received Mr. Alok Sharma, Minister and President of COP26, who is visiting Vietnam, on August 29. The Prime Minister asked that development partners support Vietnam in building and developing a renewable energy equipment manufacturing industry and in compiling a map to accurately assess the potential of solar and wind power in different regions.
Electricity of Vietnam (EVN) has reported that electricity output in the entire system reached 158 billion kWh in the first seven months of this year, of which coal-fired power and hydroelectricity still played the leading roles, with output of 63.94 billion kWh and 52.58 billion kWh, respectively, or 40.5 per cent and 33.3 per cent of the total. Renewable energy output stood at 22 billion kWh, accounting for 14 per cent.