Malaysia's Petronas keen on renewable and sustainable energy in Vietnam

On November 8, Petronas and PetroVietnam signed a Memorandum of Cooperation that covers potential collaborations on decarbonisation efforts and the development of sustainable energy solutions, liquefied natural gas, and petrochemicals.

Tan Sri Tengku Muhammad Taufik, president and group CEO of Petronas said, "This collaboration signifies the shared aspiration of Petronas and PetroVietnam to provide more energy responsibly to fuel economic growth, moving us closer to a lower-carbon future."

"In fulfilling our responsibilities as national energy companies, we look forward to combining our technological capabilities and expertise to develop energy solutions in both hydrocarbons and clean energy. The ambition of both companies is to continue offering our respective countries and the region pragmatic solutions as part of a practical and responsible pathway towards a just energy transition," Taufik added.

Petronas made its first foray in Vietnam in 1991. As a pioneer investor in the country’s upstream sector, it forged strategic partnerships with the host authority and key industry players in advancing Vietnam's oil, gas, and petrochemical industries.

Le Manh Hung, president and CEO of PetroVietnam said, "As active members in ASEAN and the ASEAN Council on Petroleum, PetroVietnam and Petronas have been working closely to share information, knowledge, and best practices. With a close geographical connection and the strong relationship between Vietnam and Malaysia, it is expected that PetroVietnam and Petronas will continue to contribute significantly to a prosperous ASEAN community."

This year marks the 50^th anniversary of the establishment of diplomatic relations between Vietnam and Malaysia. The cooperative relationship between the two nations has developed strongly over the past 50 years in all fields, especially economic and trade cooperation.

As national oil companies, both PetroVietnam and Petronas have collaborated to contribute to bringing economic benefits to both countries. For more than 30 years, they have cooperated effectively in the oil and gas sector in both upstream and downstream, overcoming the ups and downs of the oil and gas industry and becoming reliable partners.

The two sides aim for long-term and deep cooperation as they explore new opportunities in the energy transition process.

Petronas, PetroVietnam extend PSC for 10 more years Petroliam Nasional Bhd (Petronas) and Vietnam Oiland Gas Group (PetroVietnam) have extended the production sharing contract with their partners for offshore fields in the overlapping zone between Malaysia and Viet Nam.

Total drops deal to buy Petronas’ Vietnam LPG operations Totalgaz Vietnam Limited Liability Company (TGV), a subsidiary of French integrated oil and gas corporation Total, has terminated the agreement to buy Thang Long LPG Co., Ltd., the liquefied petroleum gas (LPG) storage and bottling subsidiary of Malaysian oil and gas company Petroliam Nasional Berhad (Petronas).

PetroVietnam and Petronas work on Ca Mau gas-power-fertiliser complex The co-operation between Vietnam Oil and Gas Group (PetroVietnam) and Malaysia’s Petroliam Nasional Berhad (Petronas) will contribute to ensuring the energy security for the southwest region in general and the Ca Mau gas-power-fertiliser complex in particular.