Petrovietnam: Steadfast on the journey of energy and industry

(Chinhphu.vn) - 2025 is a historic milestone, marking half a century of formation and development of the Vietnam National Energy and Industry Group (Petrovietnam). On this journey, Petrovietnam has built an oil and gas industry with scale and competitiveness, contributing to the country's socio-economic development.

Petrovietnam Chairman of the Board of Directors Le Manh Hung inspected the construction situation at the site and directly directed the removal of difficulties and obstacles of the Long Phu 1 Thermal Power Project.

Over the past half century, Petrovietnam has written a miraculous story of a key economic sector; it has gone from "nothing" to "something", from a single sector to a comprehensive industrial-energy ecosystem. Each drop of oil exploited not only carries material value, but also the sweat, intelligence and faith of people who have devoted their entire lives to the ocean and to the Fatherland.

Petrovietnam has affirmed its position as a "National Enterprise", making great contributions to the cause of building and protecting the country, contributing to ensuring energy security, national security, social security and sacred sovereignty over seas and islands. The proud DK platforms and drilling rigs in the East Sea, designed, manufactured and constructed by the hands and minds of Vietnamese oil and gas workers, are symbols of the spirit of "Petrovietnam - for the Fatherland on the shoulders"!

Through the ups and downs of the global economy, Petrovietnam has still steadfastly overcome, maintaining its role as an economic pillar, the leading flag of state-owned enterprises, demonstrating the spirit that General Secretary To Lam assessed: "Petrovietnam has made an epochal transition to become a national industrial - energy group - a symbol of state-owned enterprises, playing an important role in the cause of building, protecting and developing the country".

At the 50th anniversary celebration, Petrovietnam received 8 golden words from General Secretary To Lam: "Pioneer - Outstanding - Sustainable - Global". This is both a recognition of achievements and a development orientation for the next period.

Petrovietnam focuses on technological innovation, energy transition, industrial development, technical services and digital transformation. The Group aims to increase operational efficiency, enhance competitiveness, transparent governance, while considering responsibility to people, the environment and society.

Petrovietnam continues to aim for the goal of building a sustainable energy economy, meeting national development requirements in the 21st century.

During the period 2020-2025, Petrovietnam will carry out the mission of "5 Safe - 5 Best": Energy security, Economic security, Food security, National defense security, Social security, while maintaining a large scale of operations, contributing to the budget and high profits, actively participating in science and technology and social security activities. Chairman of the Board of Directors Le Manh Hung determined the goal: to put Petrovietnam in the list of the 500 largest enterprises in the world by 2030 and pioneer in sustainable energy development.

Petrovietnam is reshaping its growth model based on three strategic pillars: Energy as the core, Industry as the foundation, and Technical Services as the spearhead. This strategy reflects the shift from resource exploitation to energy creation, from fossil energy to renewable energy and knowledge, towards a low-carbon economy.

Initiatives such as the nationwide STEM hands-on education program demonstrate the direction of human resource and knowledge development for the energy industry in the future.

In the context of global energy transition and the Fourth Industrial Revolution, Petrovietnam continues to face challenges from geopolitical fluctuations, energy crisis and the need for sustainable development. The Group focuses on five strategic responsibilities: ensuring energy security, leading industrialization and modernization, innovating governance, pioneering technology and international integration.

The goals by 2030, including international revenue accounting for 30%, revenue from science and technology reaching 25%, and developing national industrial - ecological energy centers, are materialized through projects, initiatives and innovation activities.

50 years of establishment have created a foundation of experience, discipline, management capacity and innovation, helping Petrovietnam maintain its leading position in the energy and industrial sectors. From oil and gas exploitation to green energy development, Petrovietnam continues to aim to build a sustainable energy economy, meeting the requirements of national development in the 21st century.

2025: Total revenue of Petrovietnam is estimated to reach 1.08 million billion VND;

Petrovietnam's total budget contribution reaches an annual average of 160 trillion VND;

Petrovietnam's consolidated revenue is estimated at VND 648.33 trillion, completing the legal plan assigned by the Owner's Agency, growing 11% compared to 2024;

Profit after tax of parent company Petrovietnam exceeded the plan assigned by the Owner, reaching the target 5 months ahead of schedule .

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Source: https://baochinhphu.vn/petrovietnam-vung-buoc-tren-hanh-trinh-nang-luong-va-cong-nghiep-102251113142456219.htm