Petrovietnam accelerates to the 2025 finish line

In the last two months of the year, Petrovietnam assessed that the market still had many unpredictable fluctuations, but the Group was steadfast in its goals and determined to fully complete the targets assigned by the Government.

At the recent meeting of the Board of Members of the Vietnam National Industry and Energy Group ( Petrovietnam ), Chairman of the Board of Members of Petrovietnam Le Manh Hung emphasized that the entire Group is determined to overcome difficulties, stick to the plan, set new records, take advantage of opportunities from new development spaces, and soon be included in the Fortune Global 500.

Overcoming challenges, maintaining growth momentum

In the context of the world economy still having many unpredictable fluctuations and great pressure to achieve the national growth target by 2025, Petrovietnam is facing great challenges in maintaining the growth momentum of production and business.

Cuu Long rig drills well 24001 at BK-24 rig. Photo: PetroTimes.

In particular, oil prices have continued to decline, putting significant pressure on the Group's financial indicators. However, in the face of these challenges, Petrovietnam has proactively and resolutely implemented many solutions, focusing on maximizing exploitation capacity at existing blocks and fields, thereby ensuring stable output and effectively offsetting the decline in market prices.

In addition to putting into operation 2 new mines/projects ahead of schedule (Dai Hung phase 3, Kinh Ngu Trang - Kinh Ngu Trang Nam mine), in October, Petrovietnam welcomed the first commercial oil flow from the BK-24 platform, belonging to Bach Ho mine. This is the second project completed by the Vietsovpetro Joint Venture in 2025, setting a record in progress, exceeding the plan by 65 days, clearly demonstrating the comprehensive capacity and initiative in the mine development value chain including: Mine geology and design: Ensuring the feasibility and efficiency of the project; Drilling: Deployment at high speed and accuracy; EPCI: Proactively implementing all stages from design, procurement, construction to connection and testing.

Along with that, Petrovietnam maintained stable operation of oil and gas processing plants at record high capacity (Dung Quat Oil Refinery, Nghi Son Oil Refinery, Ca Mau Fertilizer Plant, Phu My Fertilizer Plant...); power plants operated at maximum capacity according to the mobilization of the National Power System Control Center. The work of expanding international markets, creating new growth space continued to be promoted, with many advances such as: PVOIL expanded business activities in Singapore and BSR signed a cooperation agreement to supply and trade gasoline in the Lao market.

Delegates performed the ceremony of attaching the Welcome Sign of the 14th National Party Congress to the base of the Central Technology Platform (CPP) - Block B & 48/95 and Block 52/97 gas field development project. Photo: PetroTimes.

Thanks to that, in October 2025, the Group recorded many targets that met and exceeded the plan, growing compared to the same period, including: Crude oil exploitation; Gas exploitation; LNG import; Petroleum production (excluding NSRP); NPK, LPG, Condensate, Polypropylene production.

In the first 10 months of the year, many indicators achieved high growth compared to the same period in 2024, such as: Crude oil exploitation exceeded the set plan; LNG import increased by 14%; Electricity production increased by 10.5%; Gasoline production (excluding NSRP) increased by 17.8%; NPK increased by 73.6%; LPG increased by 9.7%; Polypropylene increased by 24.2%...

Petrovietnam identifies scientific research and innovation as one of the breakthrough solutions to improve competitiveness and promote sustainable growth. In the past 10 months, the Group's revenue from new products and services reached more than 8 trillion VND. In particular, the implementation of digital technology applications and the successful conversion of the Ca Mau Fertilizer Plant into the first "Smart Factory" has become the money for Petrovietnam to convert other projects and factories of the Group into "smart projects and factories" in the coming time.

Petrovietnam leaders listen to an introduction about the smart plant operation process - Ca Mau Fertilizer Plant. Photo: PetroTimes.

At the same time, revenue from international business is estimated at more than 112 trillion VND, accounting for nearly 21% of consolidated revenue, showing the Group's efforts to expand the market.

The work of saving and fighting waste in the 10 months of Petrovietnam reached 5,266 billion VND, exceeding the plan by 26%, reaching the finish line 3 months early, largely thanks to savings in raw materials, fuel, management costs, sales, finance, etc.

Thanks to efforts to maintain growth in production and business activities, Petrovietnam's financial indicators in October and the first 10 months of 2025 all achieved positive results. Total revenue of the Group in October 2025 is estimated at 92.4 trillion VND. Accumulated revenue for the first 10 months is estimated at 891 trillion VND, an increase of 8% over the same period in 2024.

The total State budget contribution of the Group in October 2025 is estimated at 10.6 trillion VND. In the first 10 months, Petrovietnam's State budget contribution exceeded 40% of the yearly plan, reaching the target 4 months ahead of schedule, estimated at 128.8 trillion VND.

The total investment disbursement value of Petrovietnam in the first 10 months of the year is estimated at more than 39 trillion VND, higher than the average disbursement rate of the whole country and an increase of 54% over the same period in 2024. Many key projects such as Block B, O Mon 4, Nhon Trach 3 and 4, Dung Quat Oil Refinery Upgrade and Expansion Project... are being accelerated, aiming to welcome the 14th National Party Congress and create new growth momentum for the 2026-2030 period.

October also marked Petrovietnam's honor to be honored by the National Research Program on Vietnam's leading value-creating enterprises, organized by Viet Research in collaboration with the Finance - Investment Newspaper (Ministry of Finance), as the leader in the Top 10 Vietnam's leading value-creating enterprises 2025, in the energy - oil and gas industry. Petrovietnam affirmed its superior position when it had 7 member units in the Top 10, including: PetroVietnam Gas Joint Stock Corporation (PV GAS), PetroVietnam Technical Services Joint Stock Corporation (PTSC), PetroVietnam Power Corporation (PV Power), Oil and Gas Exploration and Production Corporation (PVEP), Binh Son Refining and Petrochemical Joint Stock Company (BSR), PetroVietnam Drilling and Well Services Joint Stock Corporation (PV Drilling), Vietnam Oil Corporation - Joint Stock Corporation (PVOIL).

Petrovietnam Party Standing Deputy Secretary Tran Quang Dung visits and encourages people affected by storm No. 10 in Quang Tri. Photo: PetroTimes.

Not only making its mark in production and business activities, in October and the first 10 months of the year, facing the difficulties and losses of people in areas affected by storms and floods, Petrovietnam and its member units have promoted the tradition of solidarity - always turning to the community, promptly present to share and encourage people in Nghe An, Ha Tinh, Quang Tri, Ninh Binh, Thanh Hoa, Hung Yen, Thai Nguyen...

Petrovietnam is also one of the key units accompanying the Government in improving the quality of education in remote, isolated and border areas. Typically, the Group has started construction of the Bat Mot Primary and Secondary Boarding School and Yen Khuong Primary and Secondary Boarding School in Thanh Hoa province.

In particular, from the idea of ​​General Secretary To Lam, Petrovietnam has launched the initiative of the "STEM Innovation Petrovietnam" Program. The program was launched on September 21, 2025, with the participation of General Secretary To Lam, Prime Minister Pham Minh Chinh and other Party and State leaders. Currently, the program is being accelerated with the goal of building 100 international standard STEM practice rooms in 34 provinces and cities across the country. This is not only the largest-scale educational project ever in the State-owned enterprise sector, but also a strategic national step in training human resources for science and technology, contributing to the formation of a new generation of energy-knowledgeable citizens of Vietnam.

Petrovietnam's social security activities are implemented synchronously and promptly, clearly demonstrating the social responsibility of a key national economic group, receiving high appreciation and positive recognition from the community and authorities at all levels.

The STEM lab in Hanoi is part of the “STEM Innovation Petrovietnam” program, which was developed by Petrovietnam based on the idea of ​​General Secretary To Lam. Photo: PetroTimes.

Take advantage of opportunities from new development space

In the last two months of the year, Petrovietnam assessed that the market still had many uncertain and unpredictable fluctuations. The Group steadfastly implemented the set plan to ensure the completion of the targets assigned by the Government. The Board of Directors and the Executive Board of Petrovietnam proposed a series of key solutions, emphasizing strong investment growth, especially in the Exploration - Exploitation sector, creating a solid foundation for 2026; focusing on completing key power projects such as Nhon Trach 3 and 4; accelerating strategic technology projects and restructuring research units to ensure comprehensive efficiency...

At the meeting, Petrovietnam General Director Le Ngoc Son directed to focus on forecasting the situation in the last two months of the year, controlling risks and optimizing overall efficiency. At the same time, update key investment activities in the 5-year plan; review and completely handle backlog projects; promote digital transformation.

Petrovietnam General Director Le Ngoc Son presented Thanh Hoa province with a boarding school for primary and secondary levels in a border commune. Photo: PetroTimes.

Orienting for 2026, Petrovietnam General Director Le Ngoc Son emphasized the strategic pillars that need to be promoted to maintain outstanding growth momentum: increasing output and reserves from new E&P projects; strongly developing the Power sector (LNG and Nhon Trach plants), the Refinery - Petrochemical, and Services sectors; along with increasing the proportion of revenue from new products, services, and international business.

In his concluding remarks and direction at the meeting, Chairman of the Board of Directors of Petrovietnam Le Manh Hung emphasized that changes in institutions and state management mechanisms, especially the new Petroleum Law, have opened up development space, helping Petrovietnam quickly seize opportunities to implement key projects, exploit new mines, increase output, reserves and make great contributions to the State budget. The Group's key areas have all recorded positive results; improving capital efficiency, expanding market share and increasing competitiveness.

Mr. Tran Luu Quang - Secretary of the Party Central Committee, Secretary of the Ho Chi Minh City Party Committee listened to Mr. Le Manh Hung - Secretary of the Party Committee, Chairman of the Board of Directors of Petrovietnam introduce the typical projects of the Group. Photo: PetroTimes.

To accelerate towards the 2025 target, Chairman of the Board of Directors of Petrovietnam Le Manh Hung requested the entire Group to be steadfast in its set goals; focus on strengthening forecasting, especially in the last two months of the year; ensure close monitoring of supply and demand in the market; develop a set of risk indicators to assess the impact on the ability to complete the plan and have timely management solutions. At the same time, absolute safety control in all production and business activities.

Petrovietnam Chairman of the Board of Directors Le Manh Hung also directed and carefully evaluated the market, restructured production - import, expanded the value chain abroad; applied artificial intelligence (AI) in production, business and administration, in the spirit of "AI-First"; focused on developing specialized artificial intelligence applications for the energy industry; conducted pilot operations of the Group's unified operations center and established digital copies for strategic assets.

Along with that, continue to improve the efficiency of management work through promoting technology application, digital transformation, integration and building digital databases; prepare high-quality human resources for new fields, build talent attraction strategies; speed up the progress of the Petrovietnam Ecological Energy Industry Center to seize development opportunities...

“Petrovietnam aims to achieve a total revenue of 1.1 million billion VND in 2025. This is a strategic figure, reflecting the efforts to expand market share and increase the value chain. The entire Group needs to be steadfast in its goals, stick to the plan, and be determined to soon be on the Fortune Global 500 list, affirming its position as a national energy group,” emphasized Petrovietnam Chairman of the Board of Directors Le Manh Hung.

Under the leadership of the Party and State, Petrovietnam has spent 50 years accompanying the country, being the driving force for the country's economic and social development through the mission of ensuring "5 An": energy security, economic security, food security, national defense security and national sovereignty at sea, while contributing to ensuring social security.

By implementing the 5 “An” mission, Petrovietnam has affirmed its reputation and position as a leading economic group in the country with the “5 Best” achievements: Being the largest enterprise, with total consolidated assets exceeding 1 million billion VND, equity capital of more than 556 thousand billion VND.

Being the unit with the highest budget contribution, with an average of 160 trillion VND/year in recent years, accounting for 80.3% of the total budget contribution of 18 Groups and General Corporations in the state-owned enterprise sector;

The highest profit will be in the 2020-2025 period, reaching 316 trillion VND, equivalent to an average of 2.2 billion USD/year.

It is the only enterprise that has won many prestigious awards in science and technology, including 6 Ho Chi Minh awards and 4 State awards, along with dozens of prestigious domestic and international inventions.

In particular, as a leading enterprise achieving the highest level in social security activities, in the 2020-2025 period alone, it has spent more than 5.13 trillion VND.

Source: https://nongnghiepmoitruong.vn/petrovietnam-tang-toc-ve-dich-2025-d784075.html