Petrovietnam: Determined to be listed in the world's top 500 enterprises

(Chinhphu.vn) - "Under the leadership of the Party, the State, and the Government, Petrovietnam will continue to be determined to pioneer and lead, ensure outstanding efficiency, strive for double-digit growth, sustainable development and global reach, confidently stand among the world's leading enterprises with the goal of being named in the Fortune Global 500 list by 2030", PVN Chairman Le Manh Hung pledged before the Congress.

Mr. Le Manh Hung, Chairman of the Board of Directors of Petrovietnam - Photo: VGP/NB

On behalf of the Party Committee of the Vietnam National Oil and Gas Group (Petrovietnam), Mr. Le Manh Hung, Chairman of the Board of Directors of the Group, presented a speech at the Congress with the theme "Promoting the leadership role of the PetroVietnam Party Committee in maintaining the core role, successfully implementing the Oil and Gas Industry Development Strategy, contributing to ensuring energy security and protecting national sovereignty ".

Many of Petrovietnam's targets are expected to be reached 1-2 years ahead of schedule.

Petrovietnam Party Committee, with nearly 14 thousand party members in 943 party organizations - is a unified and comprehensive political core that has demonstrated leadership, led the whole system to unite, overcome difficulties, and proposed many important decisions and resolutions such as: Resolution on recreating Petrovietnam culture, Resolution on implementing the Development Strategy, Resolution on removing difficult projects...

Petrovietnam has completed 12/12 targets of the 3rd Congress Resolution, many targets were achieved 1-2 years ahead of schedule, and comprehensively completed the 5-year plan targets assigned by the Prime Minister with many new records, achieving a growth rate of 15-37.3%/year. Petrovietnam's brand value has increased 3 times, reaching nearly 2 billion USD, always in the TOP 10 strongest brands in Vietnam, restoring the trust of the Party, the State and the people in Petrovietnam.

Petrovietnam's growth rate compared to the 2015-2020 term is very high in both scale and value. By 2025, the total assets of the Group will exceed VND 1,100 trillion, an increase of VND 247.1 trillion, equivalent to 29%. Total revenue will increase by 49%, total profit by 36%, and budget contribution by 33%.

Petrovietnam has effectively put into operation, started and implemented 50 key projects and large works with a total value of 560.8 trillion VND, creating an important driving force for growth and development. Typical projects include: Sao Vang - Dai Nguyet Project, Song Hau 1, 2022, LNG Thi Vai, Dai Hoi 3, Lot B gas and power chain... At the same time, the Group also performed well in social security with a value of over 5,130 billion VND, an increase of 75% compared to the previous term.

Every year, Petrovietnam stably supplies 90% of gas, over 70% of gasoline, over 10% of electricity output for the economy, contributing to ensuring national energy security. Along with the close coordination and cooperation with defense, security, and diplomatic forces in oil and gas activities, Petrovietnam has successfully researched, produced, and supplied special defense fuel for Su-30 aircraft and submarines, actively contributing to protecting national sovereignty.

In addition, Petrovietnam has also mastered 27 technologies in the energy and oil and gas sector, deeply participated in the global value chain, and expanded operations in 34 regions and countries around the world.

Petrovietnam: Upholding the absolute and comprehensive leadership of the Party

From the rich practice and profound impressions of the past term, Petrovietnam has drawn the following lessons:

Firstly, firmly uphold the absolute and comprehensive leadership of the Party, build a synchronous and consistent political and administrative system from top to bottom, and ensure that the activities of Party organizations are closely linked to the development strategy and operational efficiency of enterprises.

Second, proactively research and summarize from practice, update, propose amendments, create timely policies and institutions, and remove obstacles.

Third, innovate leadership thinking and management methods according to modern standards. Consider innovation as a driving force, promote discipline, order, risk management and fluctuation management, and use efficiency as a measure.

Fourth, decentralization and delegation of authority are consistent with the principles of centralized and decentralized governance, consistent with the capacity, level, scale and role of the entities in the value chain, and synchronized with responsibility and efficiency control.

Fifth, is to nurture the desire to contribute, constantly improve knowledge and corporate culture, respect talents, honor the right people, right jobs, right time, right way to create positive influence and strong solidarity.

Petrovietnam will continue to be determined to pioneer and lead, ensure outstanding efficiency, strive for double-digit growth, sustainable development and global reach, confidently stand among the world's leading enterprises with the goal of being named in the Fortune Global 500 list by 2030.

Petrovietnam identifies the 2025-2030 term as a period of breakthrough development, rapid speed, high efficiency with a dual mission of both ensuring energy security and sustainable green transition.

To realize the strategic goal, Petrovietnam thoroughly grasps the orientation of the Party and Government, especially the 8 golden words that the General Secretary awarded on the occasion of the 55th anniversary of its establishment: "Pioneering, outstanding, sustainable, global". Petrovietnam has built a set of solutions, focusing on 3 key solutions:

Firstly, the strategic solution is to perfect institutions and mechanisms, proactively propose, advise, and build a specific legal framework for the new energy and renewable energy sectors, and create a superior competitive mechanism to attract large investors and strategic partners. Recommend that competent authorities balance resources for leading and leading enterprises.

Next, Petrovietnam implemented a central solution for corporate governance and management with an integrated energy management mindset, value chain, global ecosystem, upgrading the governance system according to international standards, building a set of sustainable development indicators, applying OECD, ESG, control, and risk management.

Finally, there are breakthrough solutions in science and technology development, innovation, mastering strategic technologies such as offshore energy, clean fuel, emission reduction, carbon storage and new materials, increasing investment in development factors, forming ecological energy technology centers, developing teams of experts and scientists, building large databases, digital platforms, artificial intelligence, applying a system of measurement indicators, effective accounting, and innovation according to modern standards.

Implementing the "pillar resolutions" of the Politburo, Petrovietnam has proactively researched and implemented the completion of the governance framework according to the model of an integrated energy industry group, updated the development strategy and cooperated closely with agencies, research units, domestic and foreign enterprises for mutual development.

"Petrovietnam believes that when the Politburo issues a resolution on the state economy with innovative and breakthrough mechanisms, state-owned enterprises in general and Petrovietnam in particular will have more favorable conditions to break through and promote their leading and core roles.

Under the leadership of the Party, the State, and the Government, Petrovietnam will continue to be determined to pioneer and lead, ensuring outstanding efficiency, striving for double-digit growth, sustainable development, and global reach, confidently standing among the ranks of the world's leading enterprises with the goal of being named in the Fortune Global 500 list by 2030," Chairman Le Manh Hung pledged before the Congress.

Phan Trang

Source: https://baochinhphu.vn/petrovietnam-quyet-tam-ghi-ten-vao-danh-sach-500-doanh-nghiep-hang-dau-the-gioi-102251013152150454.htm