Attending and directing this year's Petrolimex General Meeting of Shareholders was Mr. Lai Xuan Lam - Deputy Secretary of the Government Party Committee. On behalf of the Owner, there were Mr. Cao Anh Tuan - Deputy Minister of Finance ; Mr. Nguyen Thanh Cong - Deputy Director of the State Enterprise Development Department.
The Presidium of the General Meeting of Shareholders consists of 5 members: (1) Mr. Pham Van Thanh - Chairman of the Board of Directors of the Group: Chairman (2) Member of the Board of Directors, General Director of the Group Dao Nam Hai; (3) Member of the Board of Directors, Deputy General Director of the Group Tran Ngoc Nam; (4) Member of the Board of Directors Tran Tuan Linh and (5) Member of the Board of Directors Endo Tsuyoshi.
At the Congress, the reports and proposals under the authority were approved by shareholders with a high voting rate.
Petrolimex successfully completed the 2024 production and business plan targets.
In 2024, the global economy faces many challenges such as slow growth, prolonged inflation, tight monetary policy and supply chain instability. World oil prices fluctuate due to reduced demand from major economies and geopolitical conflicts. In Vietnam, GDP increased by 7.09% compared to 2023, exceeding expectations. However, severe natural disasters such as super typhoon Yagi, saline intrusion in the Mekong Delta and drought affected the economy and Petrolimex.
In the context of intertwined advantages and challenges, the global trend of shifting to green economy, circular economy, digital transformation and AI application is increasingly evident. Petrolimex's Board of Directors has identified the key tasks in 2024 as promoting digital transformation, applying advanced technology and investing in green energy and sustainable development. The Group continues to play a key role in ensuring supply, stabilizing the petroleum market, contributing to maintaining national energy security and exceeding business targets in 2024.
In 2024, the Board of Directors of the Group has fully performed its responsibilities and powers as prescribed. Based on the Resolution of the 2024 Shareholders' Meeting, the Board of Directors has led and directed the implementation of synchronous solutions, overcoming difficulties and challenges, thereby completing the assigned plan targets and the contents approved by the 2024 Annual Shareholders' Meeting.
In addition to exceeding the important targets assigned by the General Meeting of Shareholders, other areas of operation of the Group also achieved good results, the key and outstanding tasks completed during the year are as follows:
(1) Seriously implementing the directions of the Government, the Prime Minister, and the Ministry of Industry and Trade, in 2024, the Group organized the creation of sources to complete 109% of the total source limit assigned by the Ministry of Industry and Trade, ensuring supply and stabilizing the petroleum market in all situations. In particular, proactively responding and promptly implementing scenarios to ensure uninterrupted petroleum supply, serving the essential needs of the people, minimizing risks to people and property when there are natural disasters, storms and floods, especially Typhoon Yagi occurring in September 2024.
(2) The Board of Directors thoroughly grasps the goal of ensuring absolute safety in the production and business process and continues to implement solutions to improve the quality of corporate governance. Continue to improve the quality of corporate governance to approach OECD standards. Organize a review of all internal governance regulations and rules to supplement and improve them to comply with current regulations of the Party and the State.
(3) Continue to promote the implementation of the Comprehensive Digital Transformation Strategy: with the implementation of a series of key projects such as: Project to deploy Automation at warehouses and gas stations; Automatic payment via RFID technology, smart cameras; SMO order management solution; Upgrade Petrolimex App Version 2; Upgrade the interface and features of Digital Office; Smart BI report; Digital transformation of the Group's internal management regulations; Survey of the current status of digital culture...
(4) Green energy transition: Implement the Plan to develop a net-zero and carbon neutral strategy scope 1&2 by 2026.
(5) Continue to implement the approved Petrolimex restructuring project for the 2021-2025 period, with a vision to 2035.
(6) Implement social security work well in 2024: including supporting the National Fund to join hands to eliminate temporary and dilapidated houses for poor households and other social security programs; Compensating for costs to create resources for units in remote areas with difficult business locations to ensure the supply of gasoline to serve social needs, contributing to ensuring national energy security in all regions of the country.
Production and business plan for 2025
The world and regional situation is forecast to still contain complex, unpredictable and hard-to-foresee factors. Domestically, the Party and Government are resolutely streamlining the apparatus, perfecting institutions and at the same time setting a target of economic growth of 8% or more, an important year, accelerating and breaking through to complete the 2021-2025 Plan, creating momentum towards a new era.
Entering the final year of implementing the 2020-2025 plan, responding to and seriously implementing the policies and guidelines of all levels, Petrolimex sets the following goals:
1. Consolidated petroleum output for sale (m3, tons): 17,009,900
2. Consolidated revenue (billion VND): 248,000
3. Consolidated profit before tax (billion VND): 3,200
4. Expected dividend rate: 10%
To strive to complete the plan and contents assigned by the General Meeting of Shareholders, the Board of Directors and the Executive Board focus on implementing the following main tasks and groups of solutions:
1. Ensure adequate resources for business operations.
2. Business and business support: Focus resources to promote strong growth in all retail, wholesale, TNNQ, TNPP methods to complete the 8% output growth plan.
3. Synchronously deploy solutions to ensure security and safety.
4. Investment in technical facilities.
5. Business management, administration and restructuring.
6. Labor organization and salary work.
7. IT application, automation and digital transformation.
8. Green shift.
9. Innovation and creativity.
10. For Corporations/Joint Stock Companies: Focus on implementing the arrangement and streamlining of units according to the approved restructuring project for the period 2021-2025, vision 2035.
Affirming the pioneering role and stability in supply and market share of the Petroleum industry
Within the framework of this annual meeting, the Presidium shared some of the Group's development focuses.
Regarding the streamlining of the Group's apparatus in the spirit of Resolution 18, up to now, Petrolimex has carried out: restructuring and divestment at member units such as PTC, PGCC; in which, PTC was approved by the extraordinary General Meeting of Shareholders on March 28, 2025 to merge into the parent company, expected to be completed in the second and third quarters of 2025; Completing procedures to terminate the operations of Hanoi Construction Corporation (KV1 Construction Corporation), Quang Ninh Construction Corporation (B12 Construction Corporation), and Representative Office in Ho Chi Minh City; Continuing to handle Saigon Construction Corporation (KV2 Construction Corporation); Accelerating the divestment progress at PLL according to the approved roadmap; Implementing the remaining contents of the Project to restructure the entire Group in the direction of streamlining, efficiency, in line with the new development orientation.
Regarding digital transformation, Petrolimex has been implementing innovation and digital transformation in accordance with the orientation of Resolution 57-NQ/TW and Resolution 55-NQ/TW, integrating sustainable energy development strategy and applying high technology into management and business.
In the period 2025-2030, Petrolimex has also developed a plan to deploy more synchronous and powerful application of modern and automated technologies in operation and control, specifically: Installing automatic level meters at storage tanks; Screening pump columns at gas stations; Researching and implementing solutions to prevent wrong import of gasoline; Automation in calculation and delivery of goods... In addition, the application of artificial intelligence (AI) is also a key content in the Group's action program to implement Resolution 57 in a number of areas such as: optimizing inventory and logistics; analyzing consumer behavior to personalize services; monitoring quality and managing risks...
Regarding the Group's orientation in the context of global energy transition, petroleum in the future will still play an essential role in many fields, especially long-distance transport, aviation, heavy industry, etc. Petrolimex's role in the coming period will still be that of a key and important enterprise in Vietnam's energy ecosystem, playing a role in ensuring energy security for the country; at the same time, it will be a bridge from traditional energy to future energy. It is important that Petrolimex does not maintain the mindset of "selling gasoline in the traditional way", but must shift to the mindset of "providing energy and adapting to transition".
To respond to the energy transition, Petrolimex is currently providing high-quality fuel products that meet Euro 5 standards such as RON 95 gasoline and diesel oil - the highest standard level in the Vietnamese market today. Petrolimex has also organized and implemented many programs to move towards energy transition according to the set roadmap, such as: Establishing the Steering Committee and the Implementation Committee of the Net-zero Action Program; Installing rooftop solar power at offices and gas stations in some areas; Signing cooperation agreements with international organizations such as NIC, GEAPP, ADB and completing Petrolimex's Energy Transition Report... In addition, Petrolimex is designing a roadmap to orientate according to the Development Strategy that the Group is aiming for in the next 10 years: expected to be based on 03 main pillars: New business model - New organizational model - Technology & Data.
On behalf of the Owner, Deputy Minister of Finance Cao Anh Tuan congratulated the success of the 2025 Annual General Meeting of Shareholders. He once again affirmed Petrolimex's role as a core State-owned corporation, an essential source of petroleum supply in the country's economic development and national energy security.
In 2025, he expects that the collective of Petrolimex employees will unite and realize important goals such as: Striving to excellently complete business and investment development targets, towards the 70th anniversary of the Group's establishment; Maintaining the role of a core enterprise, forecasting and creating resources, early and from afar, ensuring stability in natural disasters and market instability; Reviewing the restructuring project, streamlining, preserving and developing capital effectively.
Facing significant challenges, the Deputy Minister hopes that Petrolimex will further develop to continue to affirm its mettle and pioneering role, stability in supply, market share, and value-added chain. Complete high production and business targets. Petrolimex is not only a business but also a national brand, mettle, prestige, and aspiration to rise of the Vietnamese energy industry.
On behalf of the Board of Directors of Petrolimex, Chairman of the Board of Directors Pham Van Thanh respectfully thanks and accepts the instructions of the leaders of the Ministry of Finance and the constructive comments of shareholders to help the General Meeting of Shareholders be a great success with all contents being approved with a high consensus rate.
The consensus of shareholders, together with the strong direction and close attention from state management agencies, the press, customers and partners, etc., are the great driving forces that help Petrolimex firmly overcome all challenges and constantly strive for the goal of sustainable development. It is also the foundation for the enterprise to preserve and increase the efficiency of capital use, creating outstanding added value for shareholders and the community.
Some pictures:
Source: https://www.petrolimex.com.vn/nd/tin-chuyen-nganh/dai-hoi-dong-co-dong-thuong-nien-nam-2025-petrolimex-dinh-huong-chien-luoc-phat-trien-10-nam-toi-dua-tren-3-tru-cot-chinh.html
![[Photo] General Secretary To Lam receives First Deputy Secretary General of the African National Congress (ANC) of South Africa](https://vphoto.vietnam.vn/thumb/1200x675/vietnam/resource/IMAGE/2025/5/20/bb2999907e1245d5b4c7310a890d8201)
![[Photo] Vietnamese shipbuilding with the aspiration to reach out to the ocean](https://vphoto.vietnam.vn/thumb/1200x675/vietnam/resource/IMAGE/2025/5/20/24ecf0ba837b4c2a8b73853b45e40aa7)
![[Photo] Award ceremony for works on studying and following President Ho Chi Minh](https://vphoto.vietnam.vn/thumb/1200x675/vietnam/resource/IMAGE/2025/5/20/a08ce9374fa544c292cca22d4424e6c0)
![[VIDEO] - Enhancing the value of Quang Nam OCOP products through trade connections](https://vphoto.vietnam.vn/thumb/402x226/vietnam/resource/IMAGE/2025/5/17/5be5b5fff1f14914986fad159097a677)
Comment (0)