ASCOPE enhances cooperation as oil prices decrease

Illustrative image (Source: VNA)

Hanoi (VNA) – The ASEAN Council on Petroleum (ASCOPE) has agreed to enhance cooperation in the context of decreasing world’s oil prices.

The commitment was made at the end of the 83rd meeting of ASCOPE National Committee, which took place in Vietnam’s central Da Nang city from May 15-17.

During the meetings, members of the council agreed to continue the draft of a guidebook on searching and survey activities in ASCOPE.

All sides also agreed to bolster cooperation on various issues such as the reuse of waste catalyst and the upgrade and expansion of oil refineries.

Besides, ASCOPE will devise a strategy for response to urgent shortage of gas, as part of the coordinating mechanism in case of emergencies on energy between ASEAN members.

According to Nguyen Quynh Lam, Deputy General Director of the Vietnam Oil and Gas Group (PetroVietnam), Chairman of the ASCOPE National Committee for Vietnam, said Vietnam proposed initiatives on the provision of means and logistics in country members, along with many other ideas towards ensuring implementation of ASCOPE guidelines and benefits of members.

Vietnam joined ASCOPE in 1996, with PetroVietnam being the representative.-VNA

VNA