Petrovietnam strives to maintain operational efficiency, maintain growth momentum amid market fluctuations

In the first 5 months of 2025, Vietnam National Energy and Industry Group (Petrovietnam) continued to maintain stable production and business activities and achieved many positive results in the context of many unfavorable fluctuations in the global energy market.

All of Petrovietnam 's main production targets were completed and exceeded the plan by 4.9% - 24.9% in May 2025.

Strive for efficient operation, maintain safe and smooth production

While oil prices fell sharply compared to the same period last year, Petrovietnam still recorded growth in many key production and financial indicators thanks to strict implementation of the directions of the Government, Prime Minister , and Central Committees/Ministries/Agencies.

Petrovietnam has synchronously and drastically deployed integrated and continuous management solutions from exploitation, processing to product trading, ensuring stable production and business activities, and absolute and smooth operation of projects, factories, and drilling rigs throughout the Group.

In May 2025, all of Petrovietnam's main production targets were completed and exceeded the plan by 4.9% - 24.9%. The most prominent were crude oil exploitation, electricity, gasoline (excluding NSRP), and NPK fertilizer. Compared to April 2025, all production targets in May recorded growth, ranging from 1% - 11.3%, showing a clear recovery and acceleration in the Group's production activities.

The WHP-DH01 rig, part of the Dai Hung field development project phase 3, officially produced the first commercial oil flow on May 7, 2025.

In the first 5 months of 2025, most of Petrovietnam's production targets were completed and exceeded the plan, many targets recorded a sharp increase compared to the same period in 2024. Of which, crude oil exploitation reached 4.01 million tons, a sharp increase compared to the same period; domestic exploitation alone reached 3.27 million tons, exceeding the plan by 18.9%.

Electricity production reached 14.26 billion kWh, up 9.9% over the same period in 2024. Petroleum production (including NSRP) reached 6.81 million tons, up 16.8%; excluding NSRP, output reached 3.12 million tons, up 34.4%. NPK production reached 245.2 thousand tons, up 64.4% over the same period last year.

The above results show that Petrovietnam has made efforts to maintain stable production activities and high growth, contributing to achieving the national GDP growth target of over 8% in 2025.

Thanks to that, in the face of difficulties, Petrovietnam still recorded an estimated total revenue of VND 410 trillion, equal to 50% of the annual plan; State budget contribution is estimated at VND 56.1 trillion. These indicators all increased compared to the same period in 2024, reflecting continued assurance of production and business efficiency.

Solutions from market expansion and investment breakthroughs

To maintain growth in a challenging market, in addition to maximizing the operation of factories and projects, Petrovietnam has expanded its market share and consumption markets for key products such as gasoline, LPG, LNG and oil and gas services. The Group has implemented many flexible solutions to increase domestic and foreign business activities, taking advantage of opportunities to optimize production efficiency.

Petrovietnam and Hoa Phat signed a comprehensive cooperation agreement on May 27.

Petrovietnam has promoted the signing and cooperation with state and private economic groups to create linkage chains, enhance national competitiveness, seek growth opportunities, and expand the market. With its role and position as a leading enterprise in Vietnam in the fields of energy, industry, and services, Petrovietnam has been implementing many comprehensive cooperations with groups and enterprises such as Viettel, ACV, TKV, Vinachem, Hoa Phat, etc.

This is a step demonstrating Petrovietnam's initiative in implementing the Group's development strategy in the new period, in line with the Government's direction on enhancing support and cooperation between enterprises for the goal of sustainable development, enhancing national competitiveness in the context of a strongly changing economy.

In addition to increasing the capacity of factories, expanding the market and market share of key products, Petrovietnam has identified 2025 as a breakthrough year in investment. In the first 5 months of the year, the value of investment implementation of the whole Group reached 12.74 trillion VND, an increase of 28.5% over the same period in 2024.

Nhon Trach 3 Power Project is expected to be commercially operational from July 2025.

Key investment projects are focused on accelerating progress, notably: Putting Dai Hung phase 3 into operation from May 8, 2025 to increase by 860-870 tons/day (14.2 thousand barrels/day higher than the current 7.8 thousand barrels/day) from Dai Hung mine, contributing significantly to offset the current natural decline in output of domestic oil fields; Nhon Trach 3 Power Project was synchronized to the grid on February 5, 2025, expected to be commercially operated from July 2025 - ready to participate in the inauguration with projects nationwide on the occasion of the 80th anniversary of National Day September 2, welcoming the Party Congress of the Group and the 50th anniversary of Petrovietnam's establishment. Currently, Petrovietnam and its member units are urgently completing the fabrication, transportation and installation of important marine works of the Block B Project Chain, and preparing to put Kinh Ngu Trang - Kinh Ngu Trang Nam into operation from July 15, 2025.

With the results achieved in the first 5 months of the year, Petrovietnam is gradually affirming its internal capacity, flexible adaptability, overcoming challenges in ensuring energy security, and actively contributing to national GDP growth.

Source: https://baoquocte.vn/petrovietnam-no-luc-duy-tri-hieu-qua-hoat-dong-giu-da-tang-truong-giua-bien-dong-thi-truong-316676.html