Prime Minister Phạm Minh Chính chaired the forum, titled “80 Years of Enterprises Standing with the Nation.”
The journey of Petrovietnam’s formation and growth began with President Hồ Chí Minh’s visionary wish to establish the oil and gas industry (now the industrial‑energy sector) in 1959. On November 27, 1961, Oil Exploration Group 36—the predecessor of Petrovietnam—was established. Shortly after national reunification, on September 3, 1975, the Government decided to form the Vietnam Oil and Gas General Department, which later evolved into today’s Petrovietnam.
Under the leadership of the Party and State, Petrovietnam has spent fifty years accompanying the nation. It has successfully fulfilled its mission to build and develop a modern oil and gas industry, elevating its standing regionally and globally. The Group now operates across the entire value chain—from oil and gas exploration and extraction to the gas sector, power generation, renewable energy, petrochemical processing, and high‑tech services—forming a strategic backbone in the national energy infrastructure. Petrovietnam serves as a driving force in Vietnam’s socio‑economic development by ensuring energy, economic, food, and national defense security, safeguarding maritime sovereignty, and contributing to social welfare.
Petrovietnam Chairman of the Board – MLe Manh Hung speaks at the Conference.
At the conference, Chairman Lê Mạnh Hùng highlighted that through realizing the “5 An,” Petrovietnam has achieved remarkable milestones over five decades, including five metrics ranking among the nation’s highest.
- Largest enterprise in Vietnam, 11th largest in Southeast Asia, with total assets exceeding VND 1 quadrillion and equity over VND 540 trillion. To date, cumulative revenue stands at USD 599 billion.
- Highest budget contributor among Vietnamese enterprises. To date, Petrovietnam has contributed approximately USD 142 billion in revenue to the state budget. In the past five years, it has contributed over VND 160 trillion annually on average. Before 2000, the Group accounted for about 30% of the national budget; currently, it contributes around 9% annually, representing about 80.3% of all contributions from 18 state-owned groups and corporations.
- Consistently among the most profitable companies in Vietnam, especially over the past five years during which it has always ranked at the top. In 2024, the Group’s profit exceeded VND 55 trillion. Over the last five years, Petrovietnam’s revenue grew at an average rate of 15% per annum; budget contributions grew 16.4% annually; and consolidated profits soared by more than 36% per annum.
- Leader in science and technology development, with the most science and technology awards. Petrovietnam has received 6 Hồ Chí Minh Awards, 4 State Science and Technology Awards, 46 VIFOTEC/WIPO awards, and notably holds 4 international patents—important achievements underpinning its production and business advancement.
- Among the top enterprises in social welfare contributions. Between 2020 and 2025 alone, Petrovietnam invested VND 5,129 billion in social welfare initiatives.
Chairman Lê Mạnh Hùng expressed:
“We are deeply moved by the care and support the Party, State, Government, and Prime Minister have shown toward the business community. This support serves as a significant source of motivation for businesses, executives, managers, and entrepreneurs to be confident and determined in overcoming market challenges and achieving even greater success.”
Looking ahead, under the Party and State’s guidance—particularly in line with Politburo Conclusion No. 76‑KL/TW (April 24, 2024) and Government Resolution No. 38/NQ‑CP (February 28, 2025), and responding to global energy transition trends—Petrovietnam is making a landmark shift toward becoming a national industrial‑energy conglomerate. The strategy focuses on three strategic pillars: Energy (core pillar), Industrial development, and High‑Tech Services. Petrovietnam aspires to join the Fortune Global 500 by 2030 through six core strategic initiatives.
To achieve its dual mission—ensuring energy security and generating national energy capacity, with the ambition of entering the Fortune 500 by 2030 amid complex challenges—Petrovietnam welcomes and is ready to collaborate with credit institutions, banks, state-owned and private corporations, and foreign-invested enterprises. The Group especially seeks continued attention and guidance from the Party, State, Government, and the Prime Minister. This will serve as a driving force for Petrovietnam to continue “Keeping the heritage alight and shaping the nation’s energy future,” as it walks alongside the country’s development journey.