General Secretary To Lam urges Petrovietnam to take pioneering role in energy transition
VGP – General Secretary To Lam has urged the Viet Nam National Industry-Energy Group (Petrovietnam) to take a pioneering role in the nation's cause of industrialization and modernization, energy transition and green conversion.
General Secretary To Lam, Prime Minister Pham Minh Chinh visits the exhibition of outstanding scientific and technological achievements of Petrovietnam in 50 years of formation and development, Ha Noi, September 21, 2025.
Addressing the 50th founding anniversary of Petrovietnam on Sunday, the Party leader called on the group to become a model of State-owned enterprises in terms of business performance.
He also challenged Petrovietnam to further reach out to the global market and become one of the top business giants in the world.
Founded in 1975, Petrovietnam has played a key role in supplying essential energy sources: From having no oil or gas, up to now, it has exploited 441.5 million tons of oil and 196.0 billion m3 of gas.
Annually, Petrovietnam meets 60-70 percent of the country's gasoline demand, 70-80 percent of the domestic gas demand and about 10 percent of the country's electricity output.
Petrovietnam has affirmed its reputation and position as a leading economic group in the Southeast Asian country as it is the largest enterprise, with total consolidated assets exceeding VND$1 million billion, equity capital of more than 556 trillion VND.
Petroveitnam is also the largest budget contributor among 18 economic groups and corporations, with an average of VND160 trillion per year in recent years.
Its revenue reached VND316 trillion in the 2020-2025 period, equivalent to an average of US$2.2 billion per year.
By 2030, Petrovietnam targets to become one of the 500 largest enterprises in the world (Fortune Global 500).
By 2050, Petrovietnam aims to be an integrated, green, digital, smart Industrial - Energy Group, among the leading corporations in the region, with a global position./.
