PetroVietnam to invest in renewables amid shrinking crude oil production – ZAWYA

PetroVietnam to invest in renewables amid shrinking crude oil production – ZAWYA

PetroVietnam to invest in renewables amid shrinking crude oil production | ZAWYA MENA Edition HomeBusinessEnergyArticlePetroVietnam 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    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 offshore oil fields.The company, formally known as Vietnam Oil and Gas Group, is targeting 100 megawatts (MW) of renewable capacity by 2025 and 900 MW by 2035, it told Reuters on Wednesday.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. The company, formally known as Vietnam Oil and Gas Group, is targeting 100 megawatts (MW) of renewable capacity by 2025 and 900 MW by 2035, it told Reuters on Wednesday.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 offshore oil fields.Vietnam, one of Asia's fastest-growing economies, will have to battle severe power