PVOIL approaches 2025 revenue milestone

On October 14, 2025, in Ho Chi Minh City, the Party Committee of Vietnam Oil Corporation (PVOIL) held its third (expanded) Executive Committee meeting to review Party work and business activities during the first nine months of 2025.

Comrade Cao Hoai Duong - Secretary of the Party Committee, Chairman of the Board of Directors of the Corporation and Comrade Nguyen Dang Trinh - Deputy Secretary of the Party Committee, General Director of the Corporation presided over the Conference; with the participation of the Party Committee Executive Board, the leadership and key officials of the Corporation.

1(1).jpg — Comrade Cao Hoai Duong – Secretary of the Party Committee, Chairman of the Board of Directors of the Corporation (on the right) and Comrade Nguyen Dang Trinh – Deputy Secretary of the Party Committee, General Director of the Corporation (on the left) presided over the Conference.

The conference heard preliminary reports on Party work and business performance for the first nine months of 2025; and a thematic report on the pilot project of rooftop solar power at Phu Huu – Timexco gas station.

Reports and statements at the Conference indicated that the petroleum market continued to face many difficulties in the third quarter and the first nine months of the year. On average, crude oil prices decreased by 14% compared to the same period last year; domestic demand for petroleum products decreased due to negative impacts from natural disasters, storms, floods, and the development of electric vehicles, directly affecting PVOIL's sales volume and business performance.

Despite the challenging market conditions, PVOIL has strived to maintain its growth momentum and expand its operations. The results for the first nine months show that the total petroleum sales volume across the system reached 104% of the nine-month plan, with the retail channel growing by 11% year-on-year; the organization of loading and export/sale of crude oil and condensate achieved 113% of the nine-month plan; ensuring a stable supply of crude oil to meet BSR 's production needs from both domestic and imported sources reached 136% of the nine-month plan; total consolidated revenue reached VND 107,000 billion, completing 76% of the annual plan. Notably, revenue from international business activities grew strongly, playing a crucial role in offsetting the difficulties in domestic market revenue; and the company contributed over VND 7,000 billion to the state budget, reaching 116% of the nine-month plan. The retail system is expanding with nearly 100 new gas stations expected to be developed by the end of Q3 and throughout 2025.

In addition, PVOIL continues to strengthen strategic activities to prepare the infrastructure for the production and pilot sale of E10 RON95 bioethanol fuel nationwide; ensuring that bioethanol fuel can be implemented synchronously throughout the system as soon as the official roadmap is applied. PVOIL also aims to invest not only to meet internal needs and existing customers but also to be ready to process and blend for other distributors, contributing to ensuring a stable supply of bioethanol fuel for the market. It also continues to develop a chain of non-fuel services and refueling stations to increase convenience at its retail gas stations.

In particular, the pilot project of rooftop solar power at Phu Huu – Timexco gas station (providing electricity for electric vehicle charging stations) has initially yielded promising results. With a short payback period (approximately 4.5 years), rooftop solar power offers economic and environmental benefits, enhances brand image, and aims to participate in the carbon credit market. This model is feasible for replication across the entire PVOIL system to optimize costs and increase business efficiency.

Directing the specialized departments of the Corporation and units related to production and business activities, Mr. Nguyen Dang Trinh - Deputy Secretary of the Party Committee and General Director of the Corporation - acknowledged that the tasks in the fourth quarter remain very heavy and challenging due to the continued unfavorable market conditions. Therefore, the entire PVOIL system needs to strive to find solutions to increase business volume as well as increase consolidated total revenue.

The General Director of PVOIL requested that all units pay special attention to rational inventory management and optimize sales operations to preserve and increase profits in the remaining months of the year; ensuring the sourcing, blending, and trading of bioethanol fuel according to the Government's roadmap. Mr. Nguyen Dang Trinh commended the units for their efforts in developing the gas station system, affirming that this is an important prerequisite for increasing retail sales volume; at the same time, the units need to promote the development of non-petroleum services, creating more new impetus to help PVOIL transform strongly in the coming time.

In his concluding remarks at the conference, Comrade Cao Hoai Duong - Secretary of the Party Committee and Chairman of the Board of Directors of the Corporation - highlighted that a highlight of the first nine months of 2025 was PVOIL's sustained high revenue growth. This achievement affirms PVOIL's role and responsibility as one of Petrovietnam's revenue centers, making a significant contribution to the Group's overall results. He highly appreciated the efforts of the entire system, especially commending the significant contribution of PVOIL Singapore in international business operations, particularly in the context of a challenging domestic market.

Regarding future tasks, Comrade Cao Hoai Duong instructed the units to strive harder to protect achievements, seize opportunities to increase business efficiency, and be determined to achieve the highest possible completion of the 2025 plan, creating favorable momentum for 2026. The Chairman of the Board of Directors also directed the executive board and units on matters related to preparing the conditions for the deployment of Jet A1 aviation fuel business; expanding the rooftop solar power model at gas stations and fuel depots to optimize costs and improve business efficiency; continuing to develop the gas station system in conjunction with improving service quality; and implementing the construction and assignment of the 2026 plan to units within the system.

Mr. Cao Hoai Duong – Secretary of the Party Committee, Chairman of the Board of Directors of the Corporation and Mr. Nguyen Dang Trinh – Deputy Secretary of the Party Committee, General Director of the Corporation presented honorary plaques to representatives of units with outstanding gas stations.

Mr. Le Van Nghia – Member of the Board of Directors of the Corporation (left) and Mr. Hoang Dinh Tung – Member of the Standing Committee of the Party Committee, Deputy General Director of the Corporation (right) presented the honorary plaque to representatives of units with outstanding gas stations.

Mr. Nguyen Mau Dung – Member of the Board of Directors of the Corporation (on the left) and Mr. Le Trung Hung – Member of the Standing Committee of the Party Committee, Deputy General Director of the Corporation (on the right) presented the honorary plaque to representatives of units with outstanding gas stations.

On this occasion, PVOIL honored 50 outstanding gas stations in its system. This is one of the activities in a series of events celebrating the 50th anniversary of Petrovietnam's establishment; demonstrating PVOIL's pride in the Group's half-century of development.

Source: https://daibieunhandan.vn/pvoil-tien-gan-den-cot-moc-doanh-thu-nam-2025-10390586.html