Vietnamese localities' readiness to implement the two-tier local administration model, the evacuation of 18 Vietnamese citizens from Iran, Petrovietnam's 11th ranking in the 2025 Fortune Southeast Asia 500 are among news highlights on June 17 evening.
The group also placed among the Top 5 energy companies in Southeast Asia and secured the top spot among the largest Vietnamese enterprises featured on the list.
The O Mon 4 Thermal Power Plant will bring Petrovietnam’s total installed capacity to over 9,3000 MW, accounting for around 10% of the country’s total power capacity. Once completed, the plan will provide clean and stable power to the national grid and contribute to promoting the economic growth.
Receiving Excelerate Energy President and CEO Steven Kobos in Hanoi on May 26, Prime Minister Pham Minh Chinh lauded the signing of a memorandum of understanding (MoU) between the US firm and PV Gas, a unit of state-run Petrovietnam, urging the two sides to work closely together to ensure practical and effective cooperation.
PVCFC was the only fertiliser company in Vietnam to achieve "Level Two System Status" in Australia as of 2024 and has since advanced to Level One by 2025.
By the end of April 2025, the field had produced nearly 75 million barrels of oil, making a significant contribution to national revenue, generating employment for thousands of workers over the years, and playing a role in safeguarding national sovereignty and security.
The PV Drilling 8 rig, newly acquired in 2024, is slated to commence operations in Vietnam by September, while PV Drilling 6 will return from overseas to serve a contract at Block B – Phu Quoc in mid-2027, positioning the company for stronger revenue growth.
The group needs to continue implementing reforms and innovations, applying advanced governance methods to enhance management efficiency, manage resources effectively, and improve competitiveness, he said.
With this new name, Petrovietnam reaffirms that it is no longer solely a traditional oil and gas enterprise. It now positions itself as a national hub for industrial development, service innovation, and energy security, and is committed to sustainable development, technological modernisation, and ensuring energy stability for the nation.
A joint oil exploration and extraction project in Algeria, involving Vietnam’s Petrovietnam Exploration Production Corporation (PVEP), Algeria’s state-owned Sonatrach, and Thailand’s PTTEP, has entered its second phase, building on a track record of success.
With an urgent timeline to put the plant into operation by 2030 or 2031, the project faces significant challenges and requires a shift to a more flexible, accelerated management approach.
Prime Minister Pham Minh Chinh on December 1 asked the Vietnam Oil and Gas Group (Petrovietnam) to accelerate technology transfer for wind turbine and blade production by 2026, ultimately achieving full technology mastery for offshore wind energy development.
Party General Secretary To Lam visited Malaysia’s national oil & gas company (Petronas) in Kuala Lumpur on November 22, part of his official visit to the country.
The Vietnam Oil and Gas Group (Petrovietnam) is taking strong measures to earn 1 quadrillion VND (equivalent to 39.4 billion USD) in revenue this year.
