PetroVietnam rolls out measures to facilitate energy transition

Illustrative image (Photo: VNA)– Despite various difficulties, the Vietnam National Oil and Gas Group (PetroVietnam) has rolled out measures to keep operations buoyant in the current situation and to engage in energy transition based on the future of the industry.According to the firm, the electrification sector has been greatly impacted by the growth of renewable energy sources. Meanwhile, liquefied natural gas (LNG) power projects under construction must develop a plan for conversion to hydrogen fuel.Gasoline demand in Vietnam is forecast to continue to increase and peak in 2030-2035, while the diesel oil (DO) market is likely to be affected more slowly, and the DO supply shortage is forecast to continue until 2035.According to Binh Son Refining and Petrochemical Joint Stock Company (BSR), in the short term, energy transition has not had a clear impact on the demand for petroleum products in Vietnam. However, in the long term, it is happening globally, leading to a decrease in the demand for petroleum products.This is a challenge for refineries to enhance the quality of their products and reduce the ratio of traditional fuels in their products and promote the development of environmentally-friendly products.Regarding oil and gas exploration and production, oil production peaked in 2005 and is on the verge of a sharp decline. Meanwhile, even with the scenario of net zero emissions by 2050, oil is still used for non-energy purposes and in sectors that are difficult to replace fuel such as the aviation industry and sea transport. In particular, gas production is forecast to increase rapidly, but low-cost gas sources are harder to find, while new gas sources are expensive and have to compete with LNG.As of the end of June, about 40 countries had released strategies and roadmaps on hydrogen, including leading countries in greenhouse gas emissions such as China, the US, India, Russia, and Japan.

August 16, 2022 01:49 UTC


Indonesia plans to tighten rules to curb underage smoking

An underage smoker at a park in Jakarta, Indonesia (Photo: AFP/VNA)– The Indonesian Government is planning to tighten its relatively lax regulations on smoking in a bid to curb the increasing number of child smokers in the country.Under a planned new regulation, the Health Ministry of Indonesia is looking to control the promotion and packaging of e-cigarettes, which have remained unregulated since their legalisation in 2018.The ministry is also seeking to increase the size of graphic health warnings on tobacco packaging from 40% to 90%, ban the advertising, sponsorship and promotion of tobacco products, and prohibit the sale of single cigarettes.The number of underage smokers continues to increase each year, especially since the legalisation of e-cigarettes, Imran Agus Nurali, the ministry’s director of health promotion and community empowerment, told a webinar on August 11.He stressed the need for stronger measures to reduce tobacco consumption to protect future generations from the impact of smoking.Banning the advertising, sponsorship and promotion of tobacco products is also crucial as according to the 2019 Global Youth Tobacco Survey, around 65% of Indonesia’s children are exposed to tobacco ads through television, point-of-sale advertising, and billboards, he added. Indonesia is the only country in Southeast Asia that still allows cigarette advertising on television and printed media.Aside from revising the prevailing tobacco regulation, the government is also planning to further increase the cigarette excise tax next year.Earlier this year, the Finance Ministry raised tobacco excise by 12%, leading to an average 35% increase in cigarette prices.According to the Health Ministry, tobacco kills around 290,000 people in the country each year./.

August 14, 2022 10:48 UTC


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