Challenges awaiting the new General Director of Petrovietnam

Mr. Le Manh Cuong has just been appointed as a Member of the Board of Directors and General Director of the Vietnam National Energy and Industry Corporation (Petrovietnam).

According to Petrovietnam , in the context of a rapidly changing world, increasingly fierce energy competition, profound energy transition, and growing demands for national energy security, the role of a CEO is not simply about corporate governance in the traditional sense.

That is the role of a "conductor" coordinating the large-scale industrial-energy ecosystem; a "locomotive" leading the Petrovietnam ship to adapt, break through, and create new development momentum.

New General Director of Petrovietnam, Le Manh Cuong. (Photo: PVN)

The corporation is currently facing several major challenges simultaneously, and this is also a test for Mr. Le Manh Cuong.

These include the need to increase reserves and production in the context of natural depletion of traditional gas fields; the pressure to ensure gas supply for electricity and industry; the need to invest in large-scale energy projects with increasingly advanced technology; the pressure of competition in the open energy market; and the need for deeper participation in the energy transition process, green growth, and towards emission reduction targets.

These tasks require CEOs to not only be skilled in business management, but also to possess the leadership qualities needed in a volatile and high-pressure environment.

One of the biggest requirements for Petrovietnam today is to enhance its strategic implementation capacity. From major orientations on gas industry development, expanding the LNG-gas power chain, investing in renewable energy, developing petrochemicals, high-quality technical services, to building integrated energy centers... all need to be translated into concrete action programs with timelines, resources, and tangible results.

From another perspective, Petrovietnam must also fulfill a core role in the economy by making significant contributions to the state budget, ensuring energy security and economic security, and participating in strategic tasks at sea.

These tasks require CEOs to not only be skilled in business management, but also to possess the leadership qualities needed in a volatile and high-pressure environment.

Over 30 years associated with the oil and gas industry.

Mr. Le Manh Cuong, born in 1974 in Ha Tinh province, holds a Master's degree in Economic Management specializing in the oil and gas sector and has advanced political theory qualifications.

With over 30 years of experience in the oil and gas industry, Mr. Le Manh Cuong has held many important positions, from direct work on oil and gas exploration vessels to commercial management, production planning, business development, project management, and large-scale enterprise operations. He spent a significant period working and developing his career at the Vietnam Petroleum Technical Services Corporation (PTSC) before being appointed Deputy General Director of Petrovietnam.

In 1995, Mr. Le Manh Cuong began working directly on offshore exploration and production vessels belonging to the PTSC Oil and Gas Service Vessel Enterprise.

During his time at PTSC, Mr. Le Manh Cuong held many important positions, from working directly on oil and gas exploration vessels to managing commercial operations, production planning, business development, project management, and large-scale enterprise operations.

Minister of Finance Ngo Van Tuan presents the appointment decision to the new General Director of Petrovietnam, Le Manh Cuong. (Photo: PVN).

He previously served as the General Director of PTSC and was involved in the management and operation of numerous international businesses and projects in Singapore, Malaysia, and other locations. Through this experience, he accumulated extensive expertise in corporate governance, oil and gas technical services development, overseas service development, and large-scale project implementation.

He also led PTSC to be at the forefront of energy transition, especially offshore wind power, developing supply chains and exporting services and products to leading offshore wind power investors worldwide.

In December 2024, he was appointed Deputy General Director of Petrovietnam until he was appointed General Director of the corporation.

As Deputy General Director of Petrovietnam, Mr. Le Manh Cuong was assigned to oversee many key areas, including oil and gas exploration and production - a core area ensuring national energy security; oil and gas services - a breakthrough area in the development strategy; and other areas such as energy transition, renewable energy, and new energy.

In particular, Mr. Cuong was assigned to oversee the Ninh Thuan 2 Nuclear Power Project - a project of strategic importance to the nation's energy security.

In his acceptance speech, the new Member of the Board of Directors and General Director of PVN, Le Manh Cuong, pledged to focus on directing and managing the successful implementation of the group's development strategy in the new phase; consolidating PVN's core role in ensuring national energy security and making positive contributions to the country's economic growth.

Currently, the PVN leadership includes Mr. Le Ngoc Son as Chairman of the Board of Directors. The members of the Board of Directors are Mr. Bui Minh Tien, Mr. Nguyen Van Mau, Mr. Tran Binh Minh, Mr. Pham Tuan Anh, and Mr. Tran Hong Nam.

The group's executive board currently includes Mr. Le Manh Cuong as General Director and Deputy General Directors Le Xuan Huyen, Do Chi Thanh, Cao Hoai Duong, and Phan Tu Giang.

Ngoc Vy

Source: https://vtcnews.vn/nhung-thu-thach-cho-don-tan-tong-giam-doc-petrovietnam-ar1019120.html