Petrovietnam logs top-notch business outcomes in 7 months
The Vietnam Oil and Gas Group (Petrovietnam) has maintained a high progress of production and business, with all targets overfulfilled by between 3 and 28%.
An oil rig at the Su Tu Vang offshore oil field, which is operated by a joint venture between Petrovietnam and its foreign partners. (Photo: VNA)
Hanoi (VNA) - The Vietnam Oil and Gas Group (Petrovietnam) has maintained a high progress of production and business, with all targets overfulfilled by between 3 and 28%.
Petrovietnam General Director Le Manh Hung highlighted such outcomes were obtained amidst domestic and global challenges and complex developments.
The group’s July production of oil, gas, electricity, and ammonia exceeded the monthly plan by 15.5%, 37.3%, 47.8%, and 11.3%, respectively. Meanwhile, its petroleum production (excluding that of the Nghi Son Refinery and Petrochemical LLC – NSRP for short) was 2.2 times the plan.
In the first seven months, Petrovietnam’s outputs of oil, gas, electricity, and ammonia amounted to 6.2 million tonnes, 4.79 billion cubic metres, 14.94 billion kWh, and 1.04 million tonnes. These figures represented excesses of 14.7%, 28.4%, 8.8%, and 10.7% compared to the targets. The petroleum production (excluding the NSRP’s output) hit 4.18 million tonnes, surpassing the plan by 25.3%.
Also in the period, the group earned revenue worth 495.7 trillion VND (20.8 billion USD), or 92% of the plan. It (excluding the NSRP) contributed to the state budget 78.3 trillion VND, 6% more than the set goal, completing the yearly plan five months ahead of schedule./.
In face of a global economic downturn, especially adverse fluctuations of oil prices, subsidiaries of the Vietnam Oil and Gas Group (Petrovietnam) have flexibly taken measures to adapt to market volatility and boost production and business activities.
The Government has just requested the Commission for the Management of State Capital at Enterprises (CMSC) to carry out plans to transfer Vietnam Air Petrol Company (Skypec) from the Vietnam Airlines Corporation to the Vietnam Oil and Gas Group (Petrovietnam).
The PetroVietnam Power Corporation (PV Power) has set a target to generate nearly 7.84 billion kWh of electricity, earning a revenue of over 11.6 trillion VND (489.7 million USD) in the second half of 2023.
The Vietnam-Russia oil and gas joint venture Vietsovpetro has recently sent a proposal to the Vietnam Oil and Gas Group (Petrovietnam) regarding the expansion of its operating area.
Developed with state-of-the-art infrastructure, the Da Nang FTZ is designed to become a leading regional economic centre and a strategic growth pole in Vietnam’s new development landscape.
The Binh Duong Association of Supporting Industries (BASI) is expected to promote the usage of domestically manufactured components while supporting businesses in accessing international markets, strengthening linkages, and promoting deeper integration into global supply chains.
PwC Vietnam forecasts a vibrant M&A market in Vietnam’s healthcare sector in 2025, driven by rising demand for high-quality medical services and a growing middle class. Pharmaceutical companies, private hospitals, and specialised medical facilities, particularly in ophthalmology and oncology, are predicted to be key targets for M&A.
The central province of Quang Nam is set to become a hub for the medicinal plant industry, with Ngoc Linh ginseng designated as the core crop, under the Prime Minister's decision issued earlier this year.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
An oil rig at the Su Tu Vang offshore oil field, which is operated by a joint venture between Petrovietnam and its foreign partners. (Photo: VNA) 
