Sci-tech application, digital transformation – key to sustainable development of Petrovietnam
To the oil and gas sector and the Vietnam Oil and Gas Group (Petrovietnam), the Fourth Industrial Revolution is a big opportunity and also a considerable challenge. In this inevitable trend, promoting scientific - technological research and application along with digital transformation has become a key solution helping the industry and Petrovietnam surmount challenges, develop sustainably, guarantee national energy security, and contribute to national socio-economic development.
A leader of Petrovietnam reports the Vietnam Petroleum Institute’s research on CO2 capture and storage to Prime Minister Pham Minh Chinh.
Hanoi (VNA)ꦅ – To the oil and gas sector and the Vietnam Oil and Gas Group (Petrovietnam), the Fourth Industrial Revolution is a big opportunity and also a considerable challenge. In this inevitable trend, promoting scientific - technological research and application along with digital transformation has become a key solution helping the industry and Petrovietnam surmount challenges, develop sustainably, guarantee national energy security, and contribute to national socio-economic development.
In the new context, the industry is facing substantial difficulties and challenges that require stronger sci-tech research and application, and digital transformation.
Among those challenges, the oil and gas output has been declining since it is now harder to discover new fields, exploration and exploitation costs are rising, especially in deep-water areas, and the exploited volume at traditional fields tends to decrease.
The global fuel market is developing complicatedly and unpredictably due to impacts of multiple factors like economic, political, and geopolitical changes. Fluctuations of oil and gas prices have directly affected production and business efficiency.
Amid climate change, environmental pollution, and the depletion of natural resources, it’s now an urgent need for the sector to switch to green and sustainable development, strongly invest in renewable energy, reduce greenhouse gas emissions, and protect the environment.
Meanwhile, the Fourth Industrial Revolution creates opportunities for applying digital technology, artificial intelligence (AI), and Internet of Things (IoT) to help the industry optimise activities, improve production and business efficiency, cut expenses, and boost labour productivity. However, the application of digital technology to management, production, and business activities of the sector and Petrovietnam remains limited and incomprehensive.
In addition, compared to oil and gas enterprises in the region and the world, the sector and Petrovietnam still lack core and breakthrough technologies. They have yet to conduct many large and long-term researches or industrial-scale trial production programmes to develop copyrighted products and technologies.
The Vietnam Petroleum Institute has built digital copies for oil and gas fields to conduct real-time monitoring, make quick and precise decisions, and improve management and exploitation efficiency.
To overcome challenges and seize opportunities in the new context, the sector and Petrovietnam are advised to focus on several solutions.
In terms of institutional perfection, it is necessary to propose competent agencies build a comprehensive and transparent legal framework, especially for technology research and transfer, intellectual property protection, and innovation facilitation in the oil and gas industry. They should propose authorities issue special tax, credit, and land incentives for hi-tech application and digital transformation projects to attract investment. They also need to devise a mechanism for encouraging oil and gas companies to invest in research and development, and cooperate with institutes, universities, and startups to promote the work.
The sector and Petrovietnam should prioritise investment in core technologies, focusing resources on researching, developing, and mastering core and breakthrough technologies for different areas, including exploration, exploitation, production, transport, and distribution of oil and gas, along with promoting renewable energy like wind power, solar power, and green hydrogen.
Besides, it is important to step up transferring and applying technologies from developed countries, and to cooperate with the world’s leading businesses to access cutting-edge technologies.
With regard to digital transformation, they are advised to design and develop a comprehensive digital transformation strategy for the entire oil and gas sector; apply digital technology to management, production, business activities, and supply chains; and develop infrastructure of information technology, big data, cyber-security, and cloud computing to ensure effective transformation. They should also assist enterprises to carry out digital transformation projects and adopt new technological solutions.
On April 24, 2024, the Politburo issued Conclusion No. 76-KL/TW, which targets fast, sustainable, comprehensive, and effective development for the oil and gas industry, and that Petrovietnam will become a national industry - energy group that is connected with the development of traditional energy areas and takes part in new energy and renewable energy value chains./.
The Petrovietnam Gas Corporation (PV GAS) is focusing all its efforts on transporting LNG by rail from the South to the North to meet the fuel needs of industrial and residential consumers, especially amidst shortages caused by super typhoon Yagi, that hit Vietnam on September 7, and its subsequent floods.
The Party Central Committee’s Economic Commission, the Ministry of Industry and Trade (MoIT), and the Vietnam Oil and Gas Group (Petrovietnam) have held a joint conference to popularise and implement Conclusion No. 76-KL/TW on carrying out the Politburo’s Resolution No. 41-NQ/TW on the strategic orientations to develop Vietnam’s oil and gas sector until 2025 with a vision to 2030 and a number of orientations for the new period.
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.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
