General Secretary To Lam presents Petrovietnam with 8 words

On the afternoon of September 21, General Secretary To Lam, Prime Minister Pham Minh Chinh and many Party and State leaders attended the ceremony to celebrate the 50th anniversary of the founding of the Vietnam National Industry and Energy Group and received the First Class Labor Medal.

Shift from 'resource exploitation' to 'energy - industry - knowledge creation'

Speaking at the ceremony, General Secretary To Lam emphasized that, looking back at the past 50 years, Petrovietnam has made great contributions, many years reaching 20%-30% of the total State budget revenue, making an important contribution to stabilizing the macro-economy, ensuring national energy security; even contributing to maintaining the lifeblood of society, protecting the security of the regime in difficult times, in the face of world political fluctuations.

According to the General Secretary, the world today is rapidly shifting to a green economy, a digital economy and smart artificial intelligence, with unprecedented breakthroughs in technology and governance. In that context, the Central Committee and the Politburo have issued many new, breakthrough and strategic policies and orientations to achieve three very important goals: Maintaining a peaceful and stable environment; developing the economy rapidly and sustainably; and improving people's lives.

IMG_2F2120EC14D4 1.jpeg — General Secretary To Lam presented Petrovietnam with 8 words: "Pioneer - Outstanding - Sustainable - Global". Photo: PVN

For Petrovietnam, there is also the responsibility to implement Conclusion 76 of the Politburo on the strategic orientation for the development of the Vietnamese oil and gas industry until 2025 and vision to 2035 and some orientations for the new period. This is the guiding principle for the Group to shift from "resource exploitation" to "energy - industry - knowledge creation".

In the new development strategy, the General Secretary proposed to firmly ensure national energy security; proactively build strategic reserve capacity, flexible supply and dispatch associated with energy security, national defense security and economic independence and autonomy;

Along with that, Petrovietnam must lead industrialization and modernization. The General Secretary pointed out that it must be a pioneer in science, technology, innovation and digital transformation; innovate governance, perfect the corporate governance model according to international practices to improve efficiency and safety; strengthen enforcement discipline, prevent loss and waste; ensure the principles of transparency, integrity, efficiency and sustainability; proactively integrate internationally and promote the strength of economic sectors to connect for common development.

On the occasion of the anniversary, the General Secretary presented Petrovietnam with 8 words: "Pioneer - Superior - Sustainable - Global". In which, "Pioneer" is to lead the cause of industrialization, modernization and energy transition, digital and green transformation, enhance integration, affirm Vietnam's mettle and intelligence. "Superior" in efficiency, competitiveness and innovation, becoming a typical model of a state-owned enterprise.

“Sustainable” in vision and action, harmonious development between economic growth, environmental protection, social security and national responsibility. “Global” in aspiration and strength, reaching out to the ocean, positioning Vietnam in the international arena, confidently among the ranks of the world’s leading enterprises.

To realize its great aspiration, Petrovietnam needs to continue to make great efforts with the effective support of the political system. The General Secretary suggested that the Party Committee of the National Assembly direct the National Assembly to perfect the legal system, create a legal corridor for a competitive energy market and promote the efficiency of State-owned enterprises.

The Government Party Committee directed the Government to concretize the Politburo's policies in the Group's Charter of Operations; build specific mechanisms for strategic energy projects...

Ministries, branches and localities coordinate to create a favorable business environment, remove bottlenecks and bottlenecks to serve development; carry out spatial and infrastructure planning; and at the same time create a national ecological energy industrial center.

The General Secretary believes that Petrovietnam will continue to be a pillar of the economy, a "national enterprise" for the national interest, the pride of the Party, State and People; contributing to realizing the country's two 100-year goals and the aspiration to build a strong and prosperous Vietnam.

Petrovietnam has total consolidated assets exceeding 1 quadrillion VND.

Petrovietnam Chairman Le Manh Hung said that over the past 50 years, the Group has built a complete, modern oil and gas industry with a strategic, backbone energy infrastructure system; and put into operation many key national projects at home and abroad.

Petrovietnam has mastered most of the core technologies in the oil and gas value chain at world level: from oil and gas exploration and exploitation, gas processing, to petrochemical refining, chemical synthesis to produce ammonia, urea, high molecular materials, gas turbine power generation...

In addition, the Group firmly ensures national energy security, playing a key role in supplying essential energy sources. The Group has exploited 441.5 million tons of oil and 196.0 billion m3 of gas; annually meeting 60-70% of the country's gasoline demand, 70-80% of the domestic gas demand and about 10% of the country's electricity output.

Petrovietnam's scale has grown exponentially. In 2011, its total cumulative revenue reached 160 billion USD, and by 2025, it had reached 605 billion USD. In 2025, Petrovietnam's cumulative budget contribution reached more than 142 billion USD.

Currently, Petrovietnam has total consolidated assets exceeding 1,000 billion VND, equity capital of over 556,000 billion VND. It is the unit with the highest budget contribution, with an average of 160,000 billion VND/year in recent years; has the highest profit when the period 2020-2025 reaches 316,000 billion VND, equivalent to 2.2 billion USD/year.

In particular, Petrovietnam is also a leader in social security activities. In the 2020-2025 period alone, more than VND 5,130 billion has been spent on community programs.

After 50 years, the most important strategic turning point is the transformation of Petrovietnam's mission. The name change from "Vietnam National Oil and Gas Group" to "Vietnam National Industry and Energy Group" not only changes the identity but also is a strategic repositioning. The goal by 2030 is to be one of the 500 largest enterprises in the world; leading the formation of National Energy Industry Centers. By 2050, it will become an integrated, green - digital - smart Industry and Energy Group, among the leading corporations in the region, with a global position.

Source: https://vietnamnet.vn/tong-bi-thu-to-lam-tang-petrovietnam-8-chu-2444732.html