This article investigates the causal links between economic growth and energy consumption in Vietnam by using Vietnam's updated data in the period of 1984-2016. The error correction mechanism (ECM) is employed to detect the causal relationship in the presence of co-integration between two variables. Applying Granger's causality test within an error-correction modeling technique, we find long-run bidirectional Granger causality between energy consumption and economic activities. The source of causation in the long-run is found by the significance of the error correction terms in both directions. In the short-run, the unidirectional Granger causality running from energy consumption to economic growth is also observed. The findings provide implications for energy development strategy to ensure the sustainable economic growth in the long term for Vietnam -a rapid developing country in ASEAN region.

On April 21 st 2020, for the 1 st time in the word's history, the price of oil contracts for May delivery in the US dropped sharply to below 0 USD and stopped at a negative price as of 37.63 USD/barrel. The world oil market really fell into crisis, which had a significant impact on the oil industry of Vietnam. This article focuses on analyzing and clarifying the essence of "negative oil price" as well as the world oil market crisis and its impacts on the petroleum market in Vietnam. The findings indicate that the negative oil price was simply the result of a trading session in futures market, but its nature was the interaction between oil futures market and the physical market characterized by the disequilibrium in short-term. A scenario of low oil price dynamics is analyzed and predicted for the coming time. Thereby, the paper provides recommendations to the oil industry and macro governance of Vietnam in order to appropriate countermeasures in this difficult period.

The purpose of the research is to examine the offshore wind power potential in the mix-electric power of Vietnam. By using net present value method, the paper also aims to explore how economic factors influence the offshore wind power feasibility in the conditions that the technical factors are ensured. The result indicates that offshore wind power will have a low proportion in the mix-electric power of Vietnam before 2030 and may be accelerated in the period 2035 – 2040. Electricity supply from offshore wind is not economically viable without improvements in investment, operating costs, and capacity factor. In particular, the Feed-in-Tariff (FIT) policy designed to support the development of renewable energy sources by providing a guaranteed, above-market price for producers, will be a decisive factor in developing offshore wind power of Vietnam. Additionally, the differences between characteristics of site's condition leading to the disparities in capital and operational expenditure and capacity factor. Thus, the electricity price and the subsidies for bottom-fixed sites and floating sites should be disparate and the location of offshore wind farms should be considered to ensure the harmonization of the profits derived from different types of offshore wind farms.

No abstract