To ensure the goal of growth and sustainable development, increasing brand value, in 2024 and the following years, PetroVietnam continues to focus on promoting the value chain between units within the Group; Consolidate value chains that have operated effectively and increase, and establish new chains to put into operation.
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| PetroVietnam strengthens management and operation of production and business activities in the chain. (Source: PVN) |
Shape, connect and exploit effectively
In recent years, promoting the implementation of value chain links, linking resources, and developing internal ecosystems has helped Vietnam Oil and Gas Group (PetroVietnam) increase its ability to respond to negative impacts. from the outside, turning challenges into opportunities, improving competitiveness, truly becoming a new growth engine for the Group.
It can be said that PetroVietnam's fields of activity from upstream, midstream to downstream have great natural connections.
However, to shape, connect and effectively exploit this value chain, as well as form new links to increase value, PetroVietnam will truly put it into management and operation from 2020. now.
Based on the ideas, orientation, and direction of Chairman of the Board of Directors, General Director of PetroVietnam Le Manh Hung, the implementation of value chains is drastically and systematically carried out within the Group through surveys. , evaluate the overall system of resources and assets in each field, identify strengths, competitive advantages, build a strategic product and service portfolio...; From there, provide orientation, plans, and select feasible and highly effective chains to focus resources on implementation and operation.
Along with that is the innovation of centralized management and administration in blocks to enhance information exchange, sharing, and suggest opportunities for association and cooperation in investment, production, business, and development. market development, helping to promote the strengths of each unit, increasing the proportion of participation in the oil and gas value chain, increasing revenue and profits for businesses as well as saving time and costs when taking advantage of each other's strengths and available resources, improving the efficiency of the entire PetroVietnam ecosystem.
Since then, PetroVietnam's value chains have gradually been formed and continuously developed: Production chain; service chain; market development business chain (domestic and foreign); investment chain (service port, warehouse rental...); integrated chain (investment, service business)... helps optimize resources, as well as the management model.
PetroVietnam value chain?
To date, the entire Group has had over 30 production and investment linkage chains catalogued. Among them, many chains have been formed and put into operation with results, associated with the regular activities of the unit, and many feasible chains are being proposed, researched and implemented.
It can be mentioned that the BCC cooperation chain to produce RON91 base gasoline, DO bottom products between PV GAS and PVOIL has been implemented effectively from February 2 until now, contributing to bringing profits and improving operational efficiency. of two units; renewable energy chain between PV Power and PVFCCo, PVCFC with cooperation in installing rooftop solar power; BSR cooperates with PVOIL in supplying crude oil, blending, expanding markets and consuming petroleum products domestically and internationally; BSR cooperates with PVTrans in crude oil transportation; Cooperation between PVD and PTSC to provide services in the field of E&P...
In addition, many projects to improve the product value chain have been researched and implemented such as: Filler masterbatch/compound production project; separate olefin from LPG; Hydrogen peroxide production, melamine production; service - gas - electricity port chain; Research and develop linked value chains in the field of renewable energy and non-traditional/clean energy; Establishing a domestic supply chain to provide services to the offshore wind power industry...
Developing value chain links in the PetroVietnam ecosystem actively contributes to member units working together to research solutions to maximize resources and innovate to develop new products.
Highlights include: BSR has successfully researched, produced and sold 3 new products: BOPP, RFCC Naphtha, MixC4 and maximum RON index to increase Mogas 95 gasoline output; PVChem develops high-value, environmentally friendly chemical and petrochemical products such as producing PP Filler Masterbatch/Compound from PP powder.
Linking in value chains has helped businesses take advantage of available resources, reduce training and investment costs and also create traction for the development of businesses in the chain. Most recently, there are incentives coming from the domestic supply chain to provide services to the offshore wind industry. This supply chain not only helps PTSC have a strong and potential transformation, but is also a pulling force to help many units in the Group with responsive capabilities participate in the chain, especially the units Difficulties in moving forward when participating in the value chain.
The development of domestic and foreign markets of the Group's units has also made great progress from the Group's parent company's pioneering orientation, as well as taking advantage of invested resources and sharing experiences. market of leading units with following units in the same market.
Not only does it help improve stature and competitiveness, developing along value chains also helps PetroVietnam strengthen its resistance to difficulties and market fluctuations in the context of unpredictable world fluctuations.
Specific and practical results
In fact, value chains have helped PetroVietnam steadfastly overcome difficulties and major crises of market fluctuations, as well as contribute to macroeconomic stability and energy security of the country such as: oil price crisis, industry Global oil and gas faces overloading of storage systems and negative oil prices (2020); the Covid-19 pandemic crisis spreads and oil prices plummet (2021); gasoline shortage situation (2022); electricity shortage for production and life in the dry season of 2023...
In these urgent situations and periods, coordination and combination of units in the chain from production, operation, transportation, storage... to supply to the market are needed. With a vision in an ecosystem, it also helps PetroVietnam develop new growth drivers to compensate for areas and units facing many difficulties and challenges in production and business due to objective factors of the market in each area. time.
In consecutive years from 2020 up to now, PetroVietnam has made spectacular achievements in overcoming difficulties, growing, setting new records in production and business, making important contributions to the economy and national energy security in the context of difficulties of the global economy, major fluctuations in the energy market, while enhancing the reputation and brand value of the Group. In particular, in 2023, the total revenue of the Group will reach 942,8 trillion VND, exceeding 39% of the year's plan, 11,6 trillion VND higher than the 2022 record set by the Group (931,2 thousand billion VND). billion VND), equivalent to 9,2% of the country's GDP.
Contribution to the State budget of the entire Group reached 151,8 trillion VND, exceeding 94% of the yearly plan, accounting for about 9,4% of total State budget revenue in 2023... One of the solutions to create these results is Contribution of promoting the value chain throughout the system.
The very specific and practical results achieved are clear evidence of the success of an innovative management solution implemented in practice, becoming an important growth driver for PetroVietnam in recent years. has passed and will continue in the transformation journey to "Build and develop Vietnam Oil and Gas Group into the leading energy industrial corporation in the country and region".
