Cultural identities help PetroVietnam sail through difficulties

Cultural identities help PetroVietnam sail through difficulties (Photo: pvn.vn)

Hanoi (VNA) - Harmonious economic and cultural development is the key to the Vietnam Oil and Gas Group (PetroVietnam)'s sustainable growth strategy, constituting its inner strength and brand as well as affirming its position as a strong locomotive and a pioneer in the national economy.

In its construction, formation and development process, PetroVietnam has constantly strived to overcome difficulties and challenges with the will and bravery of "fire seekers" in finding oil to enrich the Fatherland and contribute to ensuring the national energy security. It can be affirmed that the biggest achievement of PetroVietnam so far is the building of a complete and synchronous system of oil and gas industry facilities.

With the synchronous development of its oil and gas industry chain, the group has become the nucleus in the formation of concentrated industrial zones in many localities, fundamentally changing the economic structure. Its projects and works at regional level are a clear demonstration of the qualifications and capabilities of Vietnamese officials, engineers and workers in the field. They also are an important premise to promote the export of oil and gas services abroad.

Along its development path, PetroVietnam has built and accumulated strong and quality resources in terms of capital, technological equipment, and human resources in science and technology (Photo: pvn.vn)

Along its development path, PetroVietnam has built and accumulated strong and quality resources in terms of capital, technological equipment, and human resources in science and technology. Its strong development in both scale and speed, width and depth, from domestic to overseas arenas has generated effectiveness in many aspects and made significant contributions to the overall development of the country and the State budget, enhancing the regional and international position of PetroVietnam, and building the group’s reputable culture and brand in the domestic and international markets.

The will and efforts of oil and gas workers over the years have come from a traditional inner motivation, nurtured by a cultural depth – the PetroVietnam culture.

Last year was the most difficult period in the oil and gas group’s 45-year history. Throughout 2020, it had to focus on responding to both the complex developments of the COVID-19 pandemic and the unprecedented drop in crude oil prices. However, PetroVietnam took drastic actions, promptly issuing and effectively implementing a response package. As a result, it exceeded many important targets set for 2020.

In the first 10 months of 2021, the dual task of production – business development and the COVID-19 epidemic prevention and control became more urgent. However, the leading group, with its proactive and consistent pandemic prevention measures, implemented the PetroVietnam Cultural Re-creation Project for its entire system and members in a bit to make a change in production and business activities.

As a result, the group's crude oil output in October exceeded 6.6 percent of the monthly plan, with the figure for the first 10 months hitting 9.09 million tonnes, and surpassing the plan by 12.4 percent. Consequently, PetroVietnam made an important contribution to the State budget revenue during the ten months, at 75.4 trillion VND (3.31 billion USD), exceeding the yearly plan by 21 percent and increasing 23 percent over the same period last year. The group, meanwhile, continued to secure a Fitch Ratings independent credit rating of BB+. It also ranked in the top five of the Profit 500 – the top 500 most profitable enterprises in Vietnam – for the fifth consecutive year.

The time when PetroVietnam was greatly affected by COVID-19 and falling oil prices was also the period when the implementation of corporate culture hit its peak across its member units, making the most of their fundamental values. The period saw the work and income of the group’s workforce negatively affected. However, what people noticed in PetroVietnam's factories and enterprises, on offshore rigs or inland projects is the patience and solidarity to overcome difficulties. Even when the epidemic reached its peak, not a single key project and not a single factory or enterprise of the employing nearly 60,000 workers had to stop operating. Meanwhile, PetroVietnam’s socio-cultural activities and social security were still organised regularly, giving away hundreds of billions of VND to people in the central region and the needy across the country.

In conclusion, the cultural project corporate culture has become part of the solutions to promoting the synergy of the group and its units./.