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Vietnam seeks green energy financial investments from Russia's Zarubezhneft

Vietnam's federal government said on Wednesday that it is looking for financial investments from Russian state oil company Zarubezhneft in the Southeast Asian country's green energy sector.

Vietnam and Russia have a lot more room for energy cooperation, Deputy Prime Minister Tran Hong Ha informed Zarubezhneft executive director Sergey Kudryashov at a meeting in Hanoi, ahead of the arrival of Russian President Vladimir Putin in Vietnam for a two-day check out.

Russian companies already run oil and gas fields in Vietnam.

In a statement, Ha said he had actually encouraged Zarubezhneft to purchase offshore wind power and other locations such as green hydrogen and ammonia using the firm's existing infrastructure in the country.

In a different statement on Wednesday, Russian ambassador Gennady Bezdetko said the country wanted to provide tidy energy technologies to Vietnam, including atomic energy.

On the other hand, Vietsovpetro, a joint endeavor (JV) 49%- owned by Zarubezhneft and the rest by Vietnamese state oil firm PetroVietnam, will produce 250 million barrels of crude oil from Vietnam's overseas fields by Friday, Vietnam's federal government said late on Tuesday.

The JV, which has reported profits of $88 billion given that its formation in 1981, has, nevertheless, been facing diminishing oil reserves at its fields, the statement stated.

Vietnamese state media reported on Wednesday Putin will also be accompanied by other Russian energy firms, including Rosatom and Novatek, and arms maker Rosoboronexport in addition to VTB Bank.

(source: Reuters)