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Russia, Vietnam Sign Energy dael and 16 other Deals

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HANOI—Vietnam and Russia signed 17 agreements Tuesday aimed at boosting political, military and trade ties while increasing cooperation in the energy sector.

The agreements, timed to coincide with Russian President Vladimir Putin’s visit here, will help offset China’s enormous economic influence in Vietnam and come as Beijing and Hanoi struggle with overlapping sovereignty claims to the South China Sea—Vietnam calls the body of water the East Sea—and the oil and gas reserves that lie beneath the seabed.

The energy deals include one that could see Vietnam’s state oil firm PetroVietnam exploring for oil and gas in Russia’s offshore Arctic region.

vietnam president truong tan sang and president of russia putinRussia and Vietnam engage in frequent top-level exchanges. In May, Vietnamese Prime Minister Nguyen Tan Dung visited Moscow, following up on a trip to Hanoi a year ago by Russian Prime Minister Dmitry Medvedev.

“Vietnam has been a long-term, trustworthy partner for Russia…and political dialogue between the two countries is at a high level,” Mr. Putin said at a press briefing after a meeting Tuesday with his Vietnamese counterpart, Truong Tan Sang.

Russia’s exports to Vietnam are dominated by oil products, machinery and weapons. Among the latter are fighter planes and six Kilo-class, cruise missile-equipped submarines, the first of which is due to be delivered to the Vietnamese navy early next year under a $2 billion deal signed in 2009. Two more of the Kilo-Class submarines will be delivered in 2014, Vietnamese state media has reported.

Mr. Putin said the deal signed Tuesday between the countries’ respective defense ministries will help expand the supply of Russian military products to Vietnam and training of Vietnam’s military personnel.

Russia has also provided significant support for Vietnam’s civil nuclear energy program. It has agreed to lend $8 billion to Hanoi to help pay for the country’s first reactors, which nuclear energy company Rosatom will build. The first of these, in the central province of Ninh Thuan, is due to be operational in 2023 followed a year later by a second one.

“Our cooperation in nuclear power is not limited at the construction of Vietnam’s first nuclear power plant, but also includes training human resources and building a nuclear technology training center in Vietnam,” Mr. Putin said.

Russia and Vietnam also have close ties in oil production, with PetroVietnam and Russian oil companies involved in several joint-venture projects. Among these is Vietsovpetro, which has produced more than 206 million metric tons of crude oil from fields offshore Vietnam since it was established in 1981. It is the operator of Vietnam’s largest oil field, Bach Ho, and is 49% owned by PetroVietnam and 51% by Russia’s Zarubezhneft.

Among the deals signed Tuesday, Russia’s Rosneft, will join PetroVietnam in exploring for oil and gas at block 15-1/05 offshore Vietnam while Gazprom Neft the oil arm of state-controlled gas giant Gazprom OAO will invest in Vietnam’s sole refinery, Dung Quat, and distribute products produced there.

In September, Vietnam said Gazprom may join the project to increase Dung Quat’s capacity to 200,000 barrels a day from 130,000 barrels a day.

Russia will also ship liquefied natural gas to Vietnam to help the country meet rapidly rising energy demand, Mr. Putin said Tuesday. In October, Gazprom said it hoped to have a framework deal in place by the end of the year to ship gas to Vietnam from its planned Vladivostok LNG project.

Vietnam’s main exports to Russia are farm produce, seafood, clothing and electronics.

The pair plans to increase bilateral trade to $7 billion in 2015, up from an estimated $4 billion this year. In March they launched free-trade negotiations, which if completed would deepen commercial links further.

Despite Vietnam’s sometimes heated territorial disputes with its nearer neighbor, Vietnam-China trade is substantially larger: In the first half of 2013 bilateral trade totaled $23.1 billion, up 20% from a year earlier.

China and Vietnam both claim ownership of areas lying off the eastern and southern Vietnamese coast, some of which, including the Spratly Islands, are believed to contain oil and gas deposits.

“We welcome Russia’s strategy to see Vietnam as its strategic partner in the [Southeast Asian] region, and Vietnam’s determination is to see Russia as Vietnam’s leading partner,” Vietnamese President Truong Tan Sang said.

The two leaders Tuesday also witnessed the signing of a credit agreement between the Bank for Investment and Development of Vietnam and Russia’s International Investment Bank. No details were announced.

The two countries also signed deals regarding cooperation in education, science, health care and the environment.

– WALL STREET JOURNAL

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Energy

NALPGAM Preaches Innovation, Safety to LPG Operators

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GAS: New Temile/Hyundai LPG Vessel to bring down high cost of cooking gas in Nigeria-NCDMB

The Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM) has urged operators in Nigeria’s liquefied petroleum gas (LPG) industry to strengthen safety standards, improve regulatory compliance and adopt digital technologies to reduce operational losses and drive business growth.

The association said improved operational practices would help protect investments, enhance efficiency, build consumer confidence and support the sustainable expansion of C.

The call followed its 2026 webinar, themed “Downstream LPG Operational Excellence and Compliance,” which brought together industry operators, regulators and other stakeholders to discuss safety risks, market volatility, operational inefficiencies and regulatory requirements in the downstream LPG sector.

Speaking at the event, NALPGAM National President, Edu Inyang, said the industry’s long-term growth would depend on more than increased consumption and supply volumes, stressing the need to embed safety and operational efficiency in everyday business practices.

“The future of Nigeria’s LPG industry cannot be achieved by increasing volumes alone. We must grow safely, responsibly, efficiently and sustainably. Safety is not an occasional campaign; it must become a continuous industry culture,” he said.

READ ALSO: Tinubu Promises to Boost Local Production with NNPC Refineries

A major outcome of the webinar was a proposal for a NALPGAM Standard of Operational Excellence, anchored on four principles: safe and well-maintained facilities, competent and adequately trained operators, regulatory-compliant processes, and consumer protection.

Participants urged operators to integrate safety into routine operations, strengthen preventive maintenance and comply with licensing and incident-reporting requirements.

They also called for an end to unsafe practices, including unauthorised propane blending and illegal decanting, warning that such activities could expose businesses and consumers to avoidable risks.

Inyang said compliance should be viewed as a means of strengthening business performance rather than merely fulfilling regulatory obligations.

“Compliance is not merely a regulatory burden; it is a business advantage. Well-managed LPG operations reduce accidents, improve efficiency, protect investments and strengthen public confidence in our industry,” he said.

The webinar also highlighted the role of digital technologies in improving operational efficiency and accountability across the LPG value chain.

Participants identified smart filling systems, automated tank gauges, load cells, flow meters and vehicle-tracking systems as practical tools for monitoring product movements, reducing losses and improving inventory management.

Wider adoption of these technologies, they said, could help operators strengthen operational controls, minimise discrepancies and improve the reliability of LPG distribution.

The discussions come as Nigeria seeks to expand LPG consumption to approximately five million tonnes annually by 2030, a target that will require increased investment, stronger distribution networks and wider consumer access.

Stakeholders called for greater industry participation in the Decade of Gas LPG penetration programme, alongside stronger collaboration to expand access, improve cylinder traceability and promote certified local manufacturing.

The NALPGAM also urged regulators and programme coordinators to involve its members more actively in implementing LPG penetration and cylinder recirculation initiatives.

According to the association, its members’ nationwide presence and proximity to consumers could help improve the reach and effectiveness of programmes designed to increase LPG adoption.

Reiterating the association’s position, Inyang said the industry must establish clear operational standards that protect consumers while supporting efficient and sustainable business practices.

“Our aspiration is clear: every LPG facility must be safe and properly maintained, every operator competent and adequately trained, every process compliant, and every customer protected. This is the standard of operational excellence we must collectively pursue,” he said.

The NALPGAM reaffirmed its commitment to working with government agencies, regulators and industry stakeholders to develop a safer, more efficient and competitive LPG market.

The association maintained that embedding safety, strengthening compliance and deploying appropriate technologies would be critical to improving operational performance and supporting the long-term growth of Nigeria’s LPG industry.

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Energy

Fears of Fresh US Strikes on Iran Fuels Crude Price Surge

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OPEC Appoints Next Secretary General, Effective August 2022

Fears of renewed US military strikes on Iran and escalating threats to energy infrastructure across the Middle East heightened concerns about global crude supplies have pushed-up crude oil prices in the global market.

These factors pushed crude oil prices over $117 a barrel in the global market, even as oil theft and pipeline losses in Nigeria fell by 82.9 percent in five years, from 102,900 barrels per day (bpd) in 2021 to 17,600 bpd in the first seven months of 2026, amid fresh concerns about further increases in lost volumes after years of decline.

Nigeria’s oil benchmark, Brent crude, climbed by about 3.5 percent to cross $117 a barrel during trading before easing to just above $116, still up approximately 2.7 percent.

READ ALSO: Navy Uncovers 132,000 Litres of Stolen Crude Oil in Bonny

The latest rally followed reports that Washington was considering fresh military strikes against Iran after the November 3 midterm elections, raising concerns that the conflict, now in its eighth month, could escalate further rather than move towards a diplomatic resolution.

Iran had threatened to attack oil facilities, undersea cables, data centres and artificial intelligence infrastructure across the Gulf if the United States and Israel launched a new offensive against the country.

Recall that Brent crude traded at about $72 a barrel in February, before the war began, but surged to about $126 a barrel by the end of April as the conflict intensified and concerns mounted over supply security.

Tensions rose again during the week following claims by Iran’s Islamic Revolutionary Guards Corps (IRGC) that it struck four commercial vessels in the Strait of Hormuz on Wednesday.

The US ordered some diplomats and family members of American government employees to leave Saudi Arabia, which had faced continued attacks by Houthi rebels operating from Yemen.

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Energy

NMDPRA Issues Updates on Q3 Crude Supplies to Domestic Refineries

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From January to September 2026, the domestic refineries in Nigeria received 156.52 million barrels of crude oil.

Of the volume, 125.85million barrels (80.4 percent) were sourced from in-country while 30.66 million barrels (19.6 percent) were imported.

This was contained in the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) Factsheet September 2026 released on Thursday.

The Factsheet specifically revealed that in September 2026, 38.7 million litres of the Premium Motor Spirit PMS (petrol) were received per day, crashing from the 50.5million litres per day received in August by 23 percent.

READ ALSO: Thor Empowers Host Communities with 10 Cassava, Palm Oil Processing Plants

Stock sufficiency in September was 23.9 days, declining below the 30-day threshold.

The NMDPRA stressed that while 28.7million litres were supplied per day from domestic sources, declining by 21 percent from the previous month, 10.2 million litres were imported, reducing imported petrol by 30 percent in the period under review.

According to the Factsheet, “Domestic refining contributed about 65 percent of the national petrol requirement (consumption) in September 2026, and about 74 percent of receipts, supplemented by 26 percent of imports”.

The Dangote Refinery and Petrochemicals Company (DPRP) is the only domestic refinery which currently produces petrol in Nigeria.

The report added that the DPRP produced 47.22 million litres per day of PMS in September, supplying 28.50 million litres per day to the domestic market and exporting (35.2 percent) 15.47 million litres per day.

On capacity utilization, the refinery recorded 105.98 percent of its 650,000 barrels per day capacity in the period under review.

The Factsheet disclosed that 8.7million litres of diesel were consumed in the month under review.

The NMDPRA revealed that modular refineries supplied 4.3 percent of domestic diesel consumption in September.

Aradel and OPAC, said the Factsheet, operated below optimal capacity due to feedstock challenges and maintenance shutdowns.

September diesel receipts, according to the NMDPRA, were the lowest of the 13 months, driven by low imports and low domestic evacuation amid high prices.

The Factsheet said, “Nigeria’s energy-sector transformation is progressing. Domestic refining contributed about 65 percent of the national petrol requirement (consumption) in September 2026, and about 74 percent of receipts, supplemented by 26 percent of imports.

“Priority gas projects have reached significant mileage, with the AKK pipeline at 84 percent completion as of September 2026,” the Factsheet pointed out.

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