Deputy Prime Minister Bui Thanh Son asked Petrolimex to continue striving to become a truly strong, sustainable State economic group with high competitiveness not only at the national level, but also at the regional and global levels - Photo: VGP/Hai Minh
On the morning of August 1, Comrade Bui Thanh Son, member of the Party Central Committee, member of the Standing Committee of the Government Party Committee, Deputy Prime Minister attended and delivered a speech directing the 5th Congress of Delegates of the Party Committee of the Vietnam National Petroleum Group (Petrolimex), term 2025-2030.
Also attending the congress were comrade Nguyen Hoang Anh, member of the Party Central Committee, Deputy Head of the Central Policy and Strategy Commission; comrade Pham Van Linh, Vice Chairman of the Central Theoretical Council, Standing Member of the Editorial Board of the 14th Congress Documents.
On the Petrolimex side, there were comrade Pham Van Thanh, Party Secretary, Chairman of the Group; comrade Luu Van Tuyen, Deputy Party Secretary, General Director of the Group, and 231 delegates who were outstanding party members representing nearly 3,000 party members in the entire Party Committee of the Group.
Complete and exceed all targets
According to the political report presented at the congress, during the 2020-2025 term, Petrolimex has comprehensively completed and exceeded the assigned targets and plans, of which the total consolidated revenue reached nearly VND 1,280 billion, exceeding the plan by 37%.
Total consolidated profit before tax reached VND 162,178 billion, exceeding the plan by 21%. Total payment to the State budget reached VND 162,553 billion. Equity in 2024 increased by 1.2 times compared to 2020.
The Group has proactively responded and deployed timely scenarios to ensure uninterrupted petroleum supplies, serving the essential needs of the people, even during the COVID-19 pandemic, times of stress on resources, such as in 2022, or when there are natural disasters, storms and floods, such as Typhoon Yagi in September 2024.
The Group also pioneered the implementation of electronic invoices at more than 2,700 petrol stations from July 1, 2023; at the same time, successfully applied cashless payment methods to improve customer experience and risk management under the direction of the Government.
The Group has also conducted greenhouse gas inventories; promoted the implementation of green, clean projects at warehouses, ports, petrol stations, etc.
The Deputy Prime Minister requested Petrolimex to closely follow and well implement the Party's policies and guidelines; the country's socio-economic development strategies and plans in the coming period; and well implement the "four pillars" - Photo: VGP/Hai Minh
Striving to be the leader in green energy products
In the coming term, the Group will continue to strive to become a strong, dynamic, efficient State economic group with high competitiveness domestically and internationally; well performing the task of ensuring national energy security, socio-economic development, national defense and security in all business areas.
The Group also aims to become the leading energy group in Vietnam in terms of green, clean, high-quality, environmentally friendly energy products based on 4.0 technology and comprehensive digital transformation; pioneer in providing clean fuel products that meet Euro 5 emission standards and higher in the Vietnamese market; gradually shift fossil energy sources to lower emission energy sources, such as biofuel, SAF, hydrogen, ammonia and renewable energy.
Speaking at the Congress, Deputy Prime Minister Bui Thanh Son emphasized that over the past five years, the world and regional situation has undergone many profound changes, greatly affecting the development of our country, including the COVID-19 pandemic leaving serious consequences, major power competition, local conflicts, tariff and trade tensions disrupting global supply chains, production and transportation, oil prices fluctuate frequently, and many non-traditional security issues have emerged sharply.
In that context, it is clear that the petroleum industry is one of the industries directly affected by fluctuations in the international and regional situation in recent times.
However, according to the Deputy Prime Minister, Petrolimex has played a leading role in the petroleum business - the "bloodline" of the economy, making important contributions to the country's socio-economic development achievements in recent years.
Specifically, the Group has completed and exceeded the production and business targets compared to the plan set for the 2020-2025 term: Consolidated petroleum sales output increased by an average of 4%/year, exceeding 33%. The after-tax profit margin on equity reached an average of 8.8%/year, exceeding nearly 47%; the average contribution to the State budget reached 33,500 billion VND/year; the dividend payout ratio reached an average of 11.6%/year, exceeding 16%; equity in 2024 increased 1.2 times compared to 2020.
Delegates attending the 5th Petrolimex Party Congress, term 2025-2030 - Photo: VGP/Hai Minh
The Group has contributed to firmly ensuring national energy security, stabilizing the supply of petroleum in all situations; proactively responding and promptly ensuring uninterrupted petroleum supply, serving the essential needs of people and businesses, even during the COVID-19 pandemic, times when world oil prices fluctuate erratically, supply tensions due to instability in the international political and security environment, local conflicts in some regions, or when there are natural disasters, storms and floods. These are important contributions to stabilizing the macro economy and ensuring social security.
The Group has achieved many important results in the application of science and technology, digital transformation, contributing to improving the quality and efficiency of governance, operation, business development and service provision to customers, contributing to the effective implementation of Resolution 57 of the Politburo on breakthroughs in science and technology development, innovation and national digital transformation, as well as implementing State policies, directions of the Government and the Prime Minister on promoting non-cash payments.
In the green energy transition, the Group has achieved encouraging initial results by launching a number of high-quality and biological products, trading E5 bio-fuel, and piloting E10 gasoline from August 1, 2025; piloting rooftop solar power installations at a number of gas stations; implementing projects to develop truck service stations and electric vehicle charging stations. Although this process still has many challenges, it is necessary to encourage and invest in development to contribute to the implementation of Vietnam's strong commitment to reduce net emissions to zero by 2050.
The Group has also drastically innovated its leadership methods; improved the leadership capacity of Party committees at all levels; well implemented the organizational principles, policies and guidelines of the Party; actively organized and implemented the resolutions and conclusions of the Central Committee and the Politburo on Party building and rectification, promoted the study and following of Ho Chi Minh's ideology, morality and lifestyle; promoted mass mobilization work, Party development work, building clean and strong enterprises and political systems.
The Deputy Prime Minister emphasized that the above outstanding results have continued to consolidate Petrolimex's key role in the petroleum business sector, thereby making an important contribution to stabilizing the market, ensuring energy security, ensuring macro balances, maintaining social order and safety, and effectively implementing the country's social security policies.
In addition to the achievements, the Deputy Prime Minister also highly appreciated the Group for frankly acknowledging the shortcomings and limitations in the Political Report, such as: The organization and implementation of some Party policies and guidelines have not been really proactive; the quality of some programs/action plans is not high; the number of technical innovation initiatives is not high; the work of controlling, managing risks, preventing corruption, waste, and negativity in some units is not really effective... requiring appropriate solutions to overcome as quickly as possible.
The Deputy Prime Minister noted that the Group should conduct careful research to determine a new business model, a new organizational and governance model, and promote the application of science and technology; at the same time, drastically reform, reorganize and innovate enterprises towards being lean, strong, modern, quickly adaptable and effective - Photo: VGP/Hai Minh
Ensuring national energy safety and security in all situations
Regarding some key tasks in the coming time, the Deputy Prime Minister requested the Group to closely follow and well implement the Party's policies and guidelines; the country's socio-economic development strategies and plans in the coming period; well implement the "four pillars"; and be determined to build Petrolimex into a truly strong state-owned economic group, with sustainable development and high competitiveness not only at the national level but also at the regional and global levels.
The Group needs to urgently develop and effectively implement the Group's Development Strategy to 2030, with a vision to 2045, in which it is necessary to clearly identify institutional and resource conditions in the new situation to ensure the Strategy is successfully implemented.
The Deputy Prime Minister noted that the Group should conduct thorough research to determine a new business model, a new organizational and governance model, and promote the application of science and technology; at the same time, resolutely reform, reorganize, and innovate enterprises in the direction of being lean, strong, modern, quickly adaptable, and effective.
To maintain its leading and key role in the petroleum business, the Group needs to continue expanding its domestic market share; constantly diversifying and improving the quality of its products and services; developing a modern distribution system and professional services.
Proactively deploy solutions and plans to diversify supply sources, contributing to ensuring national energy safety and security in all situations, even when regional and world markets fluctuate strongly.
Strengthen international cooperation, proactively sign long-term agreements with trusted partners, expand output markets and participate more deeply in regional and global supply chains, in accordance with the spirit of Resolution 59 of the Politburo on international integration in the new situation.
During its business operations, the Deputy Prime Minister requested the Group to proactively and promptly advise and propose to the Party and Government to continue perfecting institutions, policy mechanisms, removing difficulties and obstacles in the petroleum business sector, ensuring national energy security.
The Group needs to invest adequately in the application of modern science and technology, innovation, and digital transformation, in accordance with the spirit of Resolution 57 of the Politburo, considering this one of the "development breakthroughs" for the coming term. This is a very urgent requirement, of vital significance for business activities and corporate governance in the new era.
The Group is urgently completing digital platforms, developing a digital service ecosystem, enhancing the application of artificial intelligence and big data in operations management, risk control and customer service; expanding the cashless payment system along with cost control, improving transparency and convenience.
Deputy Prime Minister presents flowers to congratulate the Petrolimex Party Executive Committee for the 2025-2030 term - Photo: VGP/Hai Minh
Actively participate in national energy transition
Along with that, the Group needs to actively participate in the energy transition towards green, clean, sustainable, adapting to the general trend of the times; must play a pioneering role in researching, investing and deploying environmentally friendly fuel products (such as E5, E10 gasoline, biofuel, liquefied gas, hydrogen, renewable energy).
Close coordination with state management agencies, research institutions and technology enterprises to promote innovation and application of green technology in production and distribution needs to be implemented drastically, systematically and synchronously.
The Group also needs to continue to reform and improve its organizational structure, improve governance and management efficiency according to international practices, promote the responsibility of leaders and build a team of leaders at all levels with high qualifications, expertise, and the courage to think, act and take responsibility.
In addition, it is necessary to focus on training, fostering, and improving the capacity of employees, developing high-quality human resources, ensuring the lives, income, and social security of employees, considering this a core factor for the sustainable development of the Group.
Deputy Prime Minister and delegates visit the exhibition of Petrolimex's achievements - Photo: VGP/Hai Minh
Linking Party building with corporate culture building
Regarding Party building, the Group needs to continue to innovate the Party Committee's leadership methods, build a contingent of cadres and Party members who are truly exemplary in terms of qualities, ethics, and lifestyle; and be exemplary in performing their duties. Build a clean and strong Party organization; consolidate internal solidarity, expand democracy, and raise awareness of organizational discipline. Link building a clean and strong Party organization with building the Group's corporate culture.
Strengthening discipline and order in organizing, thoroughly grasping and implementing the Party's policies and guidelines, associated with strong innovation, improving the effectiveness and efficiency of inspection, supervision, Party discipline and preventing corruption, waste and negativity.
Raise awareness, sense of responsibility, thoroughly imbue the spirit of serving the country and the people for cadres, party members and workers. Pay special attention to setting an example for leaders and managers, first of all the leaders, and at the same time pay attention to the work of developing the party for the younger generation.
The Deputy Prime Minister believes that Petrolimex will continue to develop sustainably, be a core force in ensuring energy security; pioneer in digital transformation, green transformation and deep international integration in the field of petroleum production and trading, thereby actively contributing to the cause of building and firmly defending the Fatherland in the new era of the nation.
Source: https://www.petrolimex.com.vn/nd/bao-chi-viet-ve-petrolimex-va-xang-dau/xay-dung-petrolimex-thuc-su-manh-co-nang-luc-canh-tranh-khu-vuc-va-toan-cau.html
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