Petrovietnam plays a strategic role in ensuring energy security, economic security, and protecting maritime and island sovereignty

Chairman of the Board of Directors of Petrovietnam, Le Ngoc Son, introduced to Deputy Prime Minister Pham Gia Tuc the outstanding projects and works of Petrovietnam.

Attending and directing the recent conference summarizing the first six months and implementing the plan for the last six months of 2026 of the Vietnam National Energy and Industry Group ( Petrovietnam ), Politburo member and Standing Deputy Prime Minister Pham Gia Tuc acknowledged the simultaneous growth in all planned indicators and highly appreciated Petrovietnam's "One Team - One Goal" spirit.

Achieving double-digit growth is both a task and a responsibility

Speaking at the conference, Deputy Prime Minister Pham Gia Tuc highly appreciated Petrovietnam's business results in the first six months of the year, affirming that the Group has made important contributions to macroeconomic stability, ensuring major economic balances and maintaining national energy security. According to the Deputy Prime Minister, although Petrovietnam's contribution to GDP tends to decrease with the development of the economy, its absolute value continues to increase and it continues to play a strategic role in ensuring energy security, economic security, and protecting maritime sovereignty .

Citing recent developments in the Middle East, the Deputy Prime Minister acknowledged that without the Dung Quat and Nghi Son oil refineries, Vietnam would face significant difficulties in ensuring energy supply for the economy.

Permanent Deputy Prime Minister Pham Gia Tuc, Chairman of the Board of Directors of Petrovietnam Le Ngoc Son, and General Director of Petrovietnam Le Manh Cuong presided over the conference.

The Deputy Prime Minister acknowledged and highly appreciated the spirit of "One Team - One Goal" and the aspirations of the nearly 60,000 Petrovietnam employees in fulfilling their assigned tasks. The Government places great trust in Petrovietnam and believes that the Group will continue to uphold its traditions, overcome difficulties, and successfully complete the tasks assigned by the Party and the Government.

Assigning tasks for the last six months of the year, Deputy Prime Minister Pham Gia Tuc emphasized: The goal of double-digit growth is a political task and a responsibility of the core state-owned enterprise in the national industrial and energy sector. Petrovietnam must ensure the growth target is met, and this growth must be substantial, effective, and accompanied by technological innovation and modern management, while also ensuring safety and sustainable development.

Affirming the leading role of state-owned enterprises

In his report at the Conference, General Director Le Manh Cuong pointed out that the world economy and the global energy market continue to be complex and unpredictable; geopolitical conflicts, fluctuations in oil, gas, and LNG prices, supply chain disruptions, and the need for energy transition have created significant pressure on Petrovietnam's production and business activities.

However, thanks to proactively developing response scenarios, enhancing management capacity, and operating flexibly along the value chain, in the first six months of the year, Petrovietnam exceeded its planned targets by 5.0 - 23.1% compared to the same period in 2025, ensuring the supply of energy, petroleum, electricity, gas, fertilizers, and essential products for the economy; continuing to affirm its role as a key state-owned enterprise in ensuring the "5 Securitys" for the country: Energy security, Economic security, Food security, National defense security, and Social security. Notably, for the first time in 11 years (since 2015), crude oil production increased by 14.2% compared to the same period, despite many fields entering a natural decline phase.

In the first six months of the year, Petrovietnam's oil and gas exploration and production sector achieved outstanding results, increasing reserves by 8.3 million tons of oil equivalent, reaching 55.3% of the annual plan; signing 3 oil and gas contracts and completing investment to bring 1 oil and gas project into production.

Amidst a volatile international energy market, Petrovietnam has flexibly managed its raw material resources, optimized plant capacity, and ensured a stable supply for the domestic market. The corporation is a pioneer in the green energy transition by promoting E10 bioethanol, contributing to emission reduction, diversifying fuel sources, and realizing the national green transition goal.

Thanks to these efforts, Petrovietnam's financial targets for the first six months of 2026 were all exceeded and closely aligned with the Government's "double-digit" growth target for 2026. Total revenue for Petrovietnam is estimated at VND 734.7 trillion, a 49% increase compared to the same period in 2025; consolidated revenue is estimated at VND 445.4 trillion, exceeding the plan by 22% and increasing by 39%. Total tax contributions to the state budget are estimated at VND 88.9 trillion, a 27% increase.

Construction of the topside of the central processing platform for the Block B gas field development project.

Petrovietnam continues to promote investment and development, creating new growth potential. The total investment value of the Group in the first six months of 2026 is estimated at VND 27.5 trillion, an increase of over 70% compared to the same period; focusing on key projects in the fields of exploration and production, gas, electricity, LNG, and petrochemicals, linked to the goal of ensuring energy security and enhancing the Group's competitiveness in the 2026-2030 period.

Petrovietnam has also intensified its efforts to attract investment and expand international cooperation. Revenue from international business in the first six months of 2026 is estimated at VND 97.8 trillion, equivalent to 65.5% of the annual plan.

Determined to "turn commitments into measurable results"

Petrovietnam's Chairman of the Board of Directors, Le Ngoc Son, stated that in July 2026, Petrovietnam will issue a special action program for the last six months of the year, in accordance with the directive of Deputy Prime Minister Pham Gia Tuc: clear tasks, clear personnel, clear responsibilities, clear deadlines, clear results, and clear mechanisms for inspection and supervision.

Petrovietnam recognizes that the results of the first six months are very encouraging, but they are only a foundation. The biggest challenge for Petrovietnam in the last six months of the year is not just "what to do," but "how to achieve concrete results"; not just determination, but disciplined execution; not just action plans, but products, cash flow, project progress, and the efficient use of state capital.

Representatives of Party organizations and Party members of Petrovietnam received Certificates of Commendation from the Party Committee of the Government for outstanding performance in fulfilling their duties for five consecutive years (2021-2025).

In that spirit, Chairman of the Board of Directors of Petrovietnam, Le Ngoc Son, outlined key solutions and affirmed that in the last six months of the year, the Group will "transform policies into action programs, targets into concrete products, resources into growth, and commitments into measurable results"; and act in accordance with the eight golden words bestowed by the General Secretary: " Pioneering - Outstanding - Sustainable - Global" .

Also at the conference, Standing Deputy Prime Minister Pham Gia Tuc presented Certificates of Commendation from the Government Party Committee to Party organizations and Party members of Petrovietnam who had excellently fulfilled their duties for five consecutive years.

Here are some of Petrovietnam's outstanding business results for the first six months of the year:

- Petrovietnam's total revenue is estimated at 734.7 trillion VND, an increase of 49% compared to the same period last year.

- Consolidated revenue is estimated at VND 445.4 trillion, exceeding the plan by 22% and increasing by 39% compared to the same period last year.

- The Group's total tax contribution is estimated at 88.9 trillion VND, an increase of 27% compared to the same period last year.

- Reserves increased by 8.3 million tons of oil equivalent, reaching 55.3% of the annual plan.

- Crude oil production reached 5.5 million tons, an increase of 14.2% compared to the same period last year.

- Electricity production reached 20.46 billion kWh, an increase of 23.1% compared to the same period last year.

- Petroleum production reached 8.51 million tons, a 5% increase compared to the same period last year.

Petrovietnam