PVOIL approaches 2025 revenue milestone

On October 14, 2025, in Ho Chi Minh City, the Party Committee of the Vietnam Oil and Gas Corporation (PVOIL) held the third Executive Committee Meeting (expanded) to review Party work and production and business activities in the first 9 months of 2025.

Comrade Cao Hoai Duong - Party Committee Secretary, Chairman of the Board of Directors of the Corporation and Comrade Nguyen Dang Trinh - Deputy Party Committee Secretary, General Director of the Corporation chaired the Conference; with the participation of the Party Executive Committee, Board of Directors and key staff of the Corporation.

1(1).jpg — Comrade Cao Hoai Duong - Party Secretary, Chairman of the Board of Directors of the Corporation (right) and Comrade Nguyen Dang Trinh - Deputy Party Secretary, General Director of the Corporation (left) chaired the Conference

The conference listened to reports summarizing Party work and production and business activities in the first 9 months of 2025; a thematic report on the pilot project of rooftop solar power at Phu Huu Construction Company - Timexco.

Reports and speeches at the Conference showed that in the third quarter and the first nine months of the year, the petroleum market continued to face many difficulties. On average, crude oil prices decreased by 14% in the first nine months compared to the same period last year; domestic petroleum consumption decreased due to negative impacts from natural disasters, storms and floods, the development of electric vehicles, etc., which directly affected the consumption output and business efficiency of PVOIL.

Overcoming the difficult market context, PVOIL strived to maintain growth momentum and expand its operations. The results of the first 9 months of the year recorded that the total petroleum business output of the entire system completed 104% of the 9-month plan, in which the retail channel grew by 11% over the same period; well-implemented the organization of loading and exporting/selling crude oil and condensate, reaching 113% of the 9-month plan; ensured a stable supply of crude oil, meeting BSR 's production needs from domestic sources and imported sources, reaching 136% of the 9-month plan; total consolidated revenue reached 107,000 billion VND, completing 76% of the yearly plan. Notably, revenue from international business activities grew strongly, playing an important role in offsetting difficulties for revenue from the domestic market; paid more than 7,000 billion VND to the state budget, reaching 116% of the 9-month plan. The retail system is expanded with nearly 100 new CHXDs expected to be developed by the end of the third quarter and 2025.

In addition, PVOIL continues to promote strategic activities to prepare facilities for the production plan and pilot sale of E10 RON95 bio-fuel nationwide; ensuring that it can deploy bio-fuel business synchronously throughout the system as soon as the official roadmap is applied. PVOIL also orients its investment not only to meet internal demand and existing customers but also to be ready to process and blend for other sources, contributing to ensuring a stable supply of bio-fuel for the market. Continue to develop a chain of non-gasoline services and charging stations to increase convenience at the affiliated retail gas stations.

In particular, the pilot project of rooftop solar power at Phu Huu - Timexco Gas Station (providing electricity for electric car charging stations) has initially achieved positive results. With a short payback period (about 4.5 years), rooftop solar power brings economic and environmental efficiency and enhances brand image, aiming to participate in the carbon credit market. This model is feasible to replicate throughout the PVOIL system to optimize costs and increase production and business efficiency.

Instructing the Corporation's professional departments and units related to production and business activities, Comrade Nguyen Dang Trinh - Deputy Secretary of the Party Committee, General Director of the Corporation, stated that the tasks in the fourth quarter are still very heavy and challenging due to the market continuing to develop unfavorably. Therefore, the entire PVOIL system needs to strive to find solutions to increase business output as well as increase total consolidated revenue.

PVOIL's General Director requested that units pay special attention to reasonable inventory management and optimize sales activities to preserve and increase profits in the last months of the year; ensure the work of sourcing, blending and trading biofuel according to the Government's roadmap. Comrade Nguyen Dang Trinh praised the units for their efforts in developing the petrol station system, affirming that this is an important premise to help increase retail output; at the same time, units need to promote the development of non-petrol services, creating more new motivations to help PVOIL transform strongly in the coming time.

Directing and concluding the Conference, Comrade Cao Hoai Duong - Party Secretary, Chairman of the Board of Directors of the Corporation assessed that the bright spot in the first 9 months of 2025 was that PVOIL maintained high revenue growth. This achievement affirmed the role and responsibility of PVOIL as one of Petrovietnam's revenue centers, contributing significantly to the overall results of the Group. He highly appreciated the efforts of the entire system, especially praising the great contribution of PVOIL Singapore in international business activities, especially when the domestic market faced many difficulties.

Regarding the upcoming tasks, Comrade Cao Hoai Duong directed the units to make more efforts to protect the achievements, seize opportunities to increase business efficiency, and be determined to complete the 2025 plan to the highest level, creating favorable momentum for 2026. The Chairman of the Board of Directors of the Corporation also directed the Executive Board and units on matters related to preparing conditions for implementing Jet A1 aviation fuel business; replicating the rooftop solar power model at petrol stations and oil depots to optimize costs and improve business efficiency; continue to develop the petrol station system associated with improving service quality; carry out the construction and assignment of the 2026 plan to units in the system.

Comrade Cao Hoai Duong - Party Secretary, Chairman of the Board of Directors of the Corporation and Comrade Nguyen Dang Trinh - Deputy Party Secretary, General Director of the Corporation awarded honorary symbols to representatives of units with exemplary CHXD.

Mr. Le Van Nghia - Member of the Board of Directors of the Corporation (left) and Mr. Hoang Dinh Tung - Member of the Party Committee, Deputy General Director of the Corporation (right) presented the honorary symbols to representatives of units with exemplary CHXD.

Mr. Nguyen Mau Dung - Member of the Board of Directors of the Corporation (left) and Mr. Le Trung Hung - Member of the Party Committee, Deputy General Director of the Corporation (right) presented the honorary symbols to representatives of units with exemplary CHXD.

On this occasion, PVOIL honored 50 outstanding gas stations in the system. This is one of the activities in a series of events celebrating the 50th anniversary of Petrovietnam; demonstrating PVOIL's pride in the Group's half-century development journey.

Source: https://daibieunhandan.vn/pvoil-tien-gan-den-cot-moc-doanh-thu-nam-2025-10390586.html