Hanoi (VNA) – The Vietnam National Industry - Energy Group (Petrovietnam) disbursed an estimated 24.7 trillion VND (about 942 million USD) in investment during the first seven months of 2025, up 49% year-on-year.
The group also exceeded several internal targets by 1-10% during the period, including overseas crude oil output, petroleum production (excluding output from Nghi Son Refinery), urea and NPK fertilisers, and LPG. Electricity output increased by 9.8%, petroleum (excluding Nghi Son output) rose 23.4%, NPK fertilisers surged 53.8%, and polypropylene output jumped 34.6% year-on-year.
Positive performance was also seen in service operations. Petrovietnam Shipbuilding and Mechanical Co. Ltd (PVSM) reported a 22% rise in new contracts, while revenues from the construction of oil, gas, and renewable energy projects grew by 88%.
Surpassing most business and production targets, Petrovietnam posted estimated consolidated revenue of 602.1 trillion VND and contributed about 83 trillion VND to the State budget in the reviewed period.
A key highlight was the group’s revenue diversification. It earned 5.2 trillion VND from new products driven by science, technology, and innovation, and 67.4 trillion VND from international business operations, demonstrating its efforts to adapt to the global energy transition and diversify markets.
Amid global market volatility, Petrovietnam has launched several initiatives to support sustainable production and business. On July 14, the Kinh Ngu Trang – Kinh Ngu Trang Nam (White Whale – White Whale South) oil field began producing ahead of schedule, contributing to national energy security and boosting output.
Regarding international collaboration, the group expanded cooperation with Brazilian energy companies during Prime Minister Pham Minh Chinh’s trip to attend the 17th BRICS Summit. Domestically, it signed a comprehensive agreement with the Ha Tinh provincial People’s Committee to boost local development and partnered with Vietnam National Textile and Garment Group (VINATEX) to strengthen linkages in the chemical and textile sectors.
To meet its 2025 targets, Petrovietnam is accelerating key tasks, particularly in production and investment. It is currently operating 12 rigs, including four exploration wells, aimed at increasing reserves and output. Investment portfolios are being reviewed and advanced to meet objectives, while problematic projects are being closely monitored through standardised management systems.
Petrovietnam Chairman Le Manh Hung stressed that in the remaining months of 2025, the group will focus on establishing national energy industrial centres, aiming to sustain growth, and maximise profits. It is closely tracking domestic and global developments, assessing risks, and identifying new growth drivers.
The group’s key sectors - exploration and production, refining and petrochemicals, and gas-to-power - will continue efforts to expand output, ensure fuel supply, and maintain high operational capacity. The services sector is expected to boost its contribution to overall revenue.
Hung added that Petrovietnam will step up the development of new products and the expansion of international markets to reduce reliance on the domestic market. It also plans to optimise capital use, manage cash flow and costs, streamline operations, and enhance workforce quality to achieve its 2025 goals./.
