From Uncle Ho's genius vision and premonition
The birth of Vietnam's oil and gas industry is not a mere economic event, but the result of a strategic vision and genius premonition of President Ho Chi Minh. Right from the years when the country was still immersed in war, he realized that the formation of a modern oil and gas industry was a prerequisite for building a powerful nation. That far-sighted vision was reflected in the leadership of the Party and Uncle Ho from world oil and gas research, sending cadres for training, asking for help from fraternal countries... During his historic visit in 1959 to the Baku oil industrial zone (Azerbaijan), Uncle said: "After Vietnam's victory in the resistance war, the Soviet Union in general and Azerbaijan in particular will help Vietnam exploit and process oil and gas, and build strong oil and gas industrial zones like Baku". Uncle Ho's wish has become a "compass", shaping the mission and identity of the Vietnamese oil and gas industry: an industry serving national interests, serving the Fatherland and the people.
On November 27, 1961, the General Department of Geology established the Petroleum Exploration Team No. 36, the first specialized organization with the task of researching, searching and exploring oil and gas in Northern Vietnam - this day later became the traditional day of the Vietnamese oil and gas industry. However, the most important milestone marking the official birth of Petrovietnam was in 1975. Exactly 100 days after the country's reunification, the Politburo issued Resolution No. 244-NQ/TW, dated August 9, 1975, as a political basis for the National Assembly to issue Resolution No. 33-QN/QH/K5, dated August 20, 1975; the Government issued Decision No. 170/CP, dated September 3, 1975, establishing the Vietnam General Department of Petroleum and Gas, the direct predecessor of today's Vietnam National Energy Industry Group. The establishment of the General Department demonstrates the urgency of exploiting resources to rebuild the country, affirming the strategic position of the oil and gas industry in the national development vision.
“5 safe”, “5 best” - the brand of a corporation
The real turning point that changed the country's economic destiny came on June 26, 1986, when the first commercial oil was extracted from Bach Ho field. This event took place right at the beginning of the country's renovation. In the context of the economy in a difficult transition period, surrounded by embargoes, the oil flow from Bach Ho field became a strong "push"; affirming that Vietnam had officially become an oil-producing country, contributing to relieving the thirst for energy, generating foreign currency, creating important financial resources to carry out extensive economic reforms, stabilize the macro-economy and contribute to protecting the regime.
Since the late 1980s and throughout the 1990s, Party and State leaders have made breakthrough decisions to build a complete, vertically integrated oil and gas industry. This is the period when Petrovietnam began to lay the first bricks to form today's complete, synchronous value chain.
In each stage of the country's development, the Party and State always pay special attention to the development strategy of Vietnam's oil and gas industry; in which the 3 resolutions and 3 conclusions of the Politburo are strategic orientations throughout the development process of Petrovietnam.
Up to now, after 50 years of accompanying the country, Petrovietnam has completed its mission of building and developing a complete, synchronous, modern oil and gas industry, on par with the region and the world. From exploration, exploitation, gas industry to oil and gas processing and distribution industry, electricity and renewable energy industry, high-quality technical services, the Group has formed a backbone energy infrastructure system, national strategy - the driving force for the country's socio-economic development, demonstrated through the proud "5 safe" and "5 best".
For “5 an”:
Petrovietnam firmly ensures national energy security , playing a key role in supplying essential energy sources: From having no oil and gas, up to now, it has exploited 441.5 million tons of oil and 196 billion cubic meters of gas; effectively operating gas pipelines, oil refineries, petrochemical refineries, power plants and modern technical infrastructure systems capable of implementing key oil and gas projects, large-scale, high-tech industrial projects. Every year, Petrovietnam meets 60-70% of the demand for gasoline and oil, 70-80% of the demand for civil gas and over 10% of the country's electricity output. This is the foundation for maintaining socio-economic stability, creating confidence for production sectors and people's lives.
Petrovietnam is an important pillar of economic security , with exponential growth. If in 2011, the total cumulative revenue reached 160 billion USD, by 2025 it will reach 605 billion USD. In addition, in 2025, Petrovietnam's cumulative budget contribution is expected to reach more than 142 billion USD; although the contribution rate to the total state budget revenue is still 8-9%, due to the growth and diversification of the entire economy, Petrovietnam has continuously broken records in absolute value, affirming its irreplaceable role, contributing to maintaining macroeconomic stability and budget balance. Petrovietnam has put into operation key national projects and clusters, forming industrial centers and connecting energy infrastructure to create a driving force, leading and promoting regional and local economic development across the country.
Petrovietnam contributes to ensuring food security as its nitrogenous fertilizer plants supply 70-80% of the country's nitrogenous fertilizer (urea) needs. This stable supply helps stabilize the prices of agricultural materials, directly supports farmers, increases crop productivity and ensures national food production. This is an important link in the agricultural value chain, demonstrating the deep connection between the energy industry and the agricultural sector.
Petrovietnam plays an important role in national defense and security , contributing to the protection of Vietnam's sovereignty, sovereign rights and jurisdiction in the East Sea. All activities of the Group in searching, exploring and exploiting oil and gas on the continental shelf and exclusive economic zone of Vietnam are peaceful acts of sovereignty enforcement and compliance with international law. The continuous presence of works, drilling rigs, oil and gas service vessels at sea and even DK platforms deployed by Petrovietnam, "living milestones" affirm national sovereignty. In addition, Petrovietnam proactively researches, produces and supplies 100% of specialized fuel for national defense, all of which make Petrovietnam different from any other enterprise.
Petrovietnam is the fulcrum of social security , always identifying social security work as a sense of affection and social responsibility that creates the core values of corporate culture. Petrovietnam devotes large financial resources to social security programs to support compatriots in all regions of the country.
Petrovietnam also affirmed its prestige and position as a leading economic group in the country with the achievement of "5 Best" : Being the largest enterprise, with total consolidated assets exceeding 1 million billion VND, equity capital of more than 556 trillion VND. Being the unit with the highest budget contribution , with an average of 160 trillion VND/year in recent years, accounting for 80.3% of the total budget payment of 18 corporations and general companies in the state-owned enterprise sector; having the highest profit , when the period 2020 - 2025 reached 316 trillion VND, equivalent to an average of 2.2 billion USD/year. Being the only enterprise to achieve and win many noble awards in science and technology, including 6 Ho Chi Minh Awards and 4 State Awards, along with many prestigious international inventions. In particular, the leading enterprise achieved the highest level in social security activities, spending more than 5.13 trillion VND on community programs in the 2020 - 2025 period alone.
The formation and development process of Petrovietnam shows a unique development model; the birth of Petrovietnam is not an in-and-out process but a close combination of political determination, national strategic vision and the early process of international economic integration and cooperation. The cultural foundation of “serving the Fatherland” becomes an intangible asset, an endogenous strength that helps Petrovietnam overcome challenges in the stages of development.
Mission of national energy creation in the new era
After 50 years, the most important strategic turning point is the transformation of Petrovietnam's mission. The name change from "Vietnam Oil and Gas Group" to "Vietnam National Energy and Industry Group" is a profound strategic repositioning. Conclusion No. 76-KL/TW, dated April 24, 2024, of the Politburo has oriented the new development of the oil and gas industry and Petrovietnam in the new context. Petrovietnam's new mission is determined according to a dual strategy: "optimizing traditional oil and gas energy sources, sustainably developing new energy sources" to undertake the dual mission of "being a pillar in ensuring energy security and creating national energy". This means that Petrovietnam will continue to promote, accelerate and optimize the development of the traditional oil and gas sector, which is still the foundation for ensuring national energy security in parallel with the development of new energy, renewable energy, sustainable energy, etc.
Accordingly, the goal by 2030 is for Petrovietnam to be one of the 500 largest enterprises in the world (Fortune Global 500); leading the formation of national eco-energy industrial centers, becoming a symbol of Vietnamese intelligence, discipline and aspiration. Vision by 2050, Petrovietnam will become an integrated, green, digital, smart industrial-energy corporation, among the leading corporations in the region, with a global position.
Entering a new phase with difficulties, challenges, advantages and opportunities, Petrovietnam always promotes tradition, builds a strong Vietnam National Energy - Industry Group, the core of creating a modern industrial value chain, pioneering in energy transition, pioneering in new energy and renewable energy; taking science - technology, innovation and digital transformation as breakthrough levers; at the same time perfecting governance according to international standards associated with sustainable development. On that journey, Petrovietnam employees will always be steadfast in the mission of "Keeping the legacy alive, creating national energy"; taking the forged courage and intelligence as motivation; taking the nation's aspiration to rise as the goal, to become a symbol and affirm the national stature on the global energy map./.
Source: https://tapchicongsan.org.vn/web/guest/kinh-te/-/2018/1135902/petrovietnam-50-nam-giu-lua-di-san%2C-kien-tao-nang-luong-quoc-gia.aspx
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