Petrovietnam and 50 years of accompanying the country's history

Petrovietnam and 50 years of accompanying the country's history - Photo 1.

Mr. Le Manh Hung, Chairman of the Board of Directors of Petrovietnam , spoke at the Conference on Meeting with Enterprises with the theme "80 years of enterprises accompanying the country" chaired by Prime Minister Pham Minh Chinh on August 30 - Photo: VGP

The journey of construction and growth of Petrovietnam began with President Ho Chi Minh 's great wish to build the oil and gas industry (now the Vietnamese industry - energy) in 1959. On November 27, 1961, Oil Exploration Group 36 (the predecessor of Petrovietnam) was born. And right after the country's reunification, on September 3, 1975, the Government decided to establish the Vietnam Oil and Gas General Department - now Petrovietnam.

50 years of accompanying the country

Up to now, under the leadership of the Party and the State, Petrovietnam has spent 50 years accompanying the country, completing the mission of building and developing a modern oil and gas industry, raising its level in the region and the world, synchronously and completely from oil and gas exploration and exploitation to gas industry, electricity industry and renewable energy, oil and gas processing industry and high-tech services, forming a backbone energy infrastructure, national strategy. Petrovietnam is the driving force for the country's economic and social development through energy security, economic security, food security, national defense security and national sovereignty at sea, while contributing to ensuring social security.

Petrovietnam Chairman of the Board of Directors Le Manh Hung affirmed that from implementing the 5 "safe" mission, Petrovietnam has achieved great results and achievements after 50 years, including 5 indexes among the highest in the country.

Firstly , Petrovietnam is the largest enterprise in Vietnam and ranks 11th in Southeast Asia, with total assets of over 1 million billion VND and equity of over 540 thousand billion VND. Petrovietnam's total revenue to date has reached 599 billion USD.

The enterprise with the highest budget contribution in Vietnam

Second , Petrovietnam is the enterprise with the highest budget contribution among Vietnamese enterprises. To date, Petrovietnam has contributed about 142 billion USD to the budget.

On average, in the past 5 years, the Group has contributed over 160 trillion VND each year. Before 2000, Petrovietnam contributed about 30% to the budget. Currently, the Group contributes about 9% to the state budget annually, accounting for about 80.3% of the total budget contributions of 18 state-owned corporations/groups.

Third , Petrovietnam has always been on the list of the most profitable enterprises in Vietnam continuously over the years and especially in the last 5 years, it has always been in the leading position. In 2024, the Group's profit will reach over 55 trillion VND.

In the past 5 years, Petrovietnam has had steps of recovery and growth at a very high rate, with an average revenue growth rate of 15%/year; budget contribution growth rate of 16.4%/year and consolidated profit growth rate of over 36%/year.

Fourth , Petrovietnam is a science and technology development enterprise, with the most science and technology awards. Petrovietnam has 6 Ho Chi Minh awards, 4 State awards for science and technology, 46 Vifotec/WIPO awards... especially 4 international patents. These results have made important contributions to the development of Petrovietnam's production and business.

Fifth , Petrovietnam is always in the group of enterprises with the highest social security performance . In the 5-year period 2020-2025 alone, Petrovietnam has implemented social security work of up to 5,129 billion VND.

Petrovietnam and 50 years of accompanying the country's history - Photo 2.

Petrovietnam will develop further on the traditional oil and gas industry foundation with 3 strategic pillars: Energy, Industry and High-tech Services.

Petrovietnam Chairman of the Board of Directors Le Manh Hung shared: "We are very touched by the attention and care of the Party, State, Government, and Prime Minister for the business community. This is a great source of encouragement for businesses, administrators, managers, and entrepreneurs to be confident and have more motivation to overcome the difficulties and harshness of the market to achieve new achievements in their operations."

In the period of continuing to develop and accompany the country under the leadership of the Party, the orientation of the Party and the State according to Conclusion No. 76-KL/TW dated April 24, 2024 of the Politburo and Resolution No. 38/NQ-CP dated February 28, 2025 of the Government, in line with the energy transition trend, Petrovietnam has made an epochal shift to the model of a national industrial - energy group. Accordingly, Petrovietnam will develop further on the traditional oil and gas industry platform with 3 strategic pillars: Energy, Industry and High-tech Services; in which Energy is the core pillar. Petrovietnam sets a great goal and aspiration - striving to be in the list of the 500 largest enterprises in the world by 2030 through 6 groups of pillar and strategic solutions.

The Chairman of the Board of Directors of Petrovietnam affirmed that in order to fulfill the "dual" mission of ensuring energy security and creating national energy with the goal of entering the Fortune 500 by 2030 in the context of many difficulties, challenges and fluctuations, Petrovietnam wishes and is ready to cooperate, share and accompany credit institutions, banks, enterprises, corporations, state-owned corporations, private enterprises and enterprises with foreign direct investment (FDI) and especially hopes to receive the attention and direction of the leaders of the Party, State, Government and Prime Minister. This will also be the driving force for Petrovietnam to continue to "keep the legacy alive, create national energy " in the coming time, accompanying the country's development.

Phan Trang

Source: https://baochinhphu.vn/petrovietnam-va-50-nam-dong-hanh-cung-lich-su-dat-nuoc-10225083112163878.htm