Initiatives bring billions of US dollars to PetroVietnam

The Vietnam National Oil and Gas Group (PetroVietnam) has so far launched 2,805 projects that resulted in over 707 trillion VND (30.7 billion USD) in revenue.
Initiatives bring billions of US dollars to PetroVietnam ảnh 1Engineers of Binh Son Refining and Petrochemical JSC are operating equipment (Photo: petrotimes.vn)

Hanoi (VNA) – The Vietnam National Oil and Gas Group(PetroVietnam) has so far launched 2,805 projects that resulted in over 707trillion VND (30.7 billion USD) in revenue.

As one of the pioneers in PetroVietnam’s labour emulation movement, the Binh SonRefining and Petrochemical JSC (BSR) has had hundreds of registered initiatives.A total of 137 of them have been recognised and earned over 1.3 trillion VND inrevenue.

Electricity engineer Tran Quang Thuong from BSR’s group of authors for theinitiative “Manufacturing 110VDC, 25A Power Supply for Equipment Repair, Maintenance”said in the past, the troubleshooting of 110VDC equipment at factories orpower stations was always difficult due to the lack of 110VDC power supplydevices. The authors have successfully studied and manufactured a 110VDC powersupply that met the criteria for large capacity and underwent tests for circuitbreakers and contactors. It is easy to use, lightweight, and easy to move forhandling work inside and outside of the factory.

Since mid-2020, good quality 110VDC power supply systems have beenmanufactured. With the new power supply, the Dung Quat Oil Refinery saved 200million VND in the cost of buying new equipment. The new power supply helpsquickly check experiments, handle problems related to relay and circuitbreakers in TA4, and indirectly shortens time to perform jobs. Engineers caneasily repair and build 110VDC power supplies with equivalent or greatercapacity.

Deputy head of the BSR repair and maintenance department Ngo Huu Chien affirmedthat power system at Dung Quat Oil Refinery is very complex so that maintenancework requires highly skilled engineers. With a passion for learning and creativity,the contingent of electrical workers and engineers brought into full play manyinitiatives to ensure safe and stable operation of the power delivery system atthe factory.

Technology engineer Tran Cong Nhat from the Bien Dong Petroleum OperatingCompany (BIENDONG POC) said Bien Dong 01 is a major project of Vietnam’s oiland gas sector. It exists in particularly complicated conditions such as deepwater - close to deep water (128-145m of water) and is far from shore. It isalso the largest scale project in Vietnam, with a total volume of 70,000 tonnes.It requires very strict technical standards. Such challenges require engineersand workers at the project to constantly study and apply technical innovationsand improvements tostabilise the country's gas supply.

Over the past five years, BIENDONG POC has launched 40 initiatives andbenefited 1.4 trillion VND. Most notably is a project on optimising the cost ofmanaging underground pipelines by simulation research in combination withrisk-based testing and advanced non-destructive testing.  

Chairwoman of PetroVietnam’s Trade Union Nghiem Thuy Lan said during the2017-2022 period, out of 2,805 initiatives, 108 were recognised at PetroVietnam.Twelveof the initiatives won oil and gas and VIFOTEC sci-tech awards, and fourothers were honoured as “Pride of Vietnamese labour brainpower”. Such worksbrought home hundreds of millions of VND to the corporation. Outstanding unitsin labour emulation campaigns include Vietsovpetro, PVCFC, BSR, PV GAS, PVFCCo,BIENDONG POC, PTSC, PVEP, PV Drilling and others. Vietsovpetro had 524initiatives and inventions, 202 of them were not counted into money and theremainder brought over 53.4 trillion VND. PetroVietnam Gas had 406 initiativesand raked in more than 2.7 trillion VND.

When it comes to building model criteria and project goals, it is necessary to trackthe tasks for each period and functions of companies. It is also necessary toformalize the model project contents into appropriate criteria. When anyemulation movement is launched, she called for enhancing inspection andoffering all possible forms of support for employees to make the best use oftheir creativity and bring the initiatives into reality, thus improving workefficiency./. 

VNA

See more

On average, 1,065 cars were sold each day in June. (Photo: tinnhanhchungkhoan)

Car sales increase sharply in June

Passenger cars accounted for the largest number of sales with 22,934 vehicles, up 14.6% over the previous month. Meanwhile, sales of commercial vehicles reached 8,782, down 2%, while specialised vehicle sales reached 261, up 23% over the previous month.

Domestic revenue accounts for 1,158.4 trillion VND, or 69.4% of the yearly estimate. (Photo: VNA)

State budget revenue surges over 28% in H1

A total of 1,988 new projects were licensed in the first half, up 21.7% year-on-year, with newly registered capital amounting to nearly 9.3 billion USD. Foreign investors poured capital into 18 out of 21 economic sectors.

VinFast partners with BatX Energies to promote high-voltage battery recycling. (Photo: VNA)

VinFast partners with Indian firm to promote high-voltage battery recycling

Under the agreement, BatX Energies will provide VinFast with comprehensive solutions for high-voltage (HV) battery recycling, including the recovery of materials such as lithium, cobalt, and nickel, as well as battery repurposing at VinFast’s manufacturing facilities and after-sales network in India.

PM Pham Minh Chinh (centre, front row) and the USABC delegation. (Photo: VNA)

Prime Minister works with USABC to foster economic and investment ties

US businesses appreciated the increasingly favourable investment and business environment in Vietnam, as well as the country’s strong commitments, vision, and concrete actions, particularly the administrative streamlining efforts. They reaffirmed their commitment to long-term investment, production, and business cooperation with Vietnam in the coming period.

Delegates at the fifth meeting of the Vietnam-Pakistan Joint Subcommittee on Trade in Hanoi on July 11. (Photo: MoIT)

Vietnam, Pakistan seek sustainable trade growth

Vietnam and Pakistan have seen steady growth in bilateral trade, with an average annual increase of over 6.7% between 2017 and 2024. Two-way trade reached over 850 million USD last year and approximately 327.5 million USD in the first five months of 2025.

New real estate developments in Thủ Thiêm urban area (Photo: VNA)

HCM City approves 17 housing projects for foreign ownership

The HCM City Department of Construction will publish detailed project information on its official portal and has been instructed to inspect four other projects with foreign involvement in sensitive areas: Hung Vuong 1 – R16, Hung Vuong 2 – R13, Star Hill – C15B (former District 7), and The Prince Residence (former Phu Nhuan district).

Workers remove unripe (green) coffee cherries to ensure quality raw materials for specialty coffee production. (Photo: VNA)

2025 coffee exports hit target, set for record 7.5 billion USD

According to the Ministry of Agriculture and Environment (MAE), Vietnam exported an estimated 953,900 tonnes of coffee worth 5.45 billion USD in the first six months of 2025, increasing by 5.3% in volume and 67.5% in value compared to the same period in 2024.

CBRE's press conference announcing the real estate market report for Q2 2025 was held in Hà Nội on July 10. (Photo: VNA)

Hanoi’s condo market sees Q2 surge in high-end supply

In a report on the capital city's property market in Q2 2025 published on July 10, CBRE experts revealed that nearly 6,850 new apartment units were put on the market in Q2, almost doubling the supply from the first quarter. ​

Passengers queue for handling immigration procedures at Huu Nghi International Border Gate in Lang Son province. (Photo: VNA)

Cross-border tourism, trade rebound at Huu Nghi int’l border gate

Statistics show that over 1.24 million people have completed immigration procedures at the Huu Nghi International Border Gate since January, including more than 430,000 with passports (up 5.8%) and over 810,000 with travel permits (up 22.5%). Most travellers are Chinese and Vietnamese citizens crossing for tourism, family visits, or business purposes.