Search Results (3)

Maintenance plays a key role in oil and gas enterprises, especially in the process of increasing pressure to improve equipment efficiency, reduce costs, and comply with environmental protection requirements towards sustainable production. This study proposes an optimal maintenance strategy based on the overall equipment effectiveness (OEE) index, using a multi-criteria decision-making method (MCDM) integrating an Analytical Hierarchy Process (AHP) and a Technique for Order of Preference by Similarity to an Ideal Solution (TOPSIS). The study evaluates five maintenance strategies—preventive maintenance (PM), risk-based maintenance (RBM), condition-based maintenance (CBM), reliability-centered maintenance (RCM), and predictive maintenance (PdM)—based on four key criteria: maintenance cost, safety, efficiency, and flexibility. The comparison of each pair of criteria and the maintenance strategy choices was carried out systematically to ensure consistency in the decision-making process. The Evaluation Distance to the Mean Solution (EDAS) method was used as a cross-validation tool to strengthen the reliability of the results. The results showed that RCM is the optimal maintenance strategy, providing superior equipment performance and reliability. The study expands the theoretical basis in industrial maintenance, providing a structured and data-driven decision support tool. The method can be flexibly applied in many industries to optimize maintenance strategies and promote sustainable production. Full article

Vietnam is the world’s largest cement exporter. In 2022, it produced 118 Mtpa cement while emitting 109 Mtpa cement-related CO_2, equal to 33% of Vietnam’s total CO₂ emission. As Vietnam has pledged to achieve net zero by 2050, unabated cement-related CO₂ emission must be drastically reduced in the future. This paper investigates the contribution of carbon capture and storage (CCS) to decarbonizing Vietnam’s cement industry to make cement production cleaner and more sustainable. A first-of-a-kind CO₂ source-sink mapping exercise was conducted to map 68 cement plants to subsurface sinks, including oil and gas reservoirs and saline aquifers, using four CCS field development concepts. The results have identified four first-mover CCS projects where CO₂ emissions from 27 cement plants are mapped to nearby offshore subsurface CO₂ sinks. Two of these projects are located in Vietnam-north, one in Vietnam-central, and one in Vietnam-south. In the Vietnam-south CCS project, CO₂ emission from the Kien Giang province is transported and stored in the offshore Block B gas field. In the other three CCS projects, CO₂ emission is transported to nearshore saline aquifers in the Song Hong Basin. At a CO₂ capture rate of 90%, these four projects will mitigate 50 Mtpa CO₂, which is 46% of cement-related CO₂ emission or 15% of total CO₂ emission from Vietnam, thus making Vietnam’s cement production cleaner and more sustainable. Future research should focus on subsurface characterization of saline aquifers in the Song Hong Basin. The methodology developed in this study is usable in other cement-producing countries with significant CO₂ sinks in the nearshore continental shelf. Full article

The purpose of this paper is to evaluate and estimate market risk for the ten major industries in Vietnam. The focus of the empirical analysis is on the energy sector, which has been designated as one of the four key industries, together with services, food, and telecommunications, targeted for economic development by the Vietnam Government through to 2020. The oil and gas industry is a separate energy-related major industry, and it is evaluated separately from energy. The data set is from 2009 to 2017, which is decomposed into two distinct sub-periods after the Global Financial Crisis (GFC), namely the immediate post-GFC (2009–2011) period and the normal (2012–2017) period, in order to identify the behavior of market risk for Vietnam’s major industries. For the stock market in Vietnam, the website used in this paper provided complete and detailed data for each stock, as classified by industry. Two widely used approaches to measure and analyze risk are used in the empirical analysis, namely Value-at-Risk (VaR) and Conditional Value-at-Risk (CVaR). The empirical findings indicate that Energy and Pharmaceuticals are the least risky industries, whereas oil and gas and securities have the greatest risk. In general, there is strong empirical evidence that the four key industries display relatively low risk. For public policy, the Vietnam Government’s proactive emphasis on the targeted industries, including energy, to achieve sustainable economic growth and national economic development, seems to be working effectively. This paper presents striking empirical evidence that Vietnam’s industries have substantially improved their economic performance over the full sample, moving from relatively higher levels of market risk in the immediate post-GFC period to a lower risk environment in a normal period several years after the end of the calamitous GFC. Full article