State-owned group PetroVietnam plans to step on the renewable energy stage by deploying 900 MW of renewables capacity by 2035, with an interim goal of 100 MW by 2025, Reuters reports. The oil firm, previously known as Vietnam Oil and Gas Group, will undertake the plan as crude oil production in Vietnam has been declining […]
PetroVietnam to invest in renewables amid shrinking crude oil production
Vietnam, one of Asia’s fastest-growing economies, will have to battle severe power shortages from 2021 as demand outstrips construction of new power plants HANOI: Vietnam’s state oil firm PetroVietnam is seeking to venture into renewable energy sources like wind farms and floating solar panels, as domestic crude oil production has peaked at most of its […]