Business

Petrovietnam sets new records in revenue, pre-tax profit

By the end of November, the Vietnam Oil and Gas Group (Petrovietnam) had completed all targets of finance and oil and gas exploitation and production in 2022 ahead of schedule, and set new records in revenue and pre-tax profit, according to its General Director Le Manh Hung.
Petrovietnam sets new records in revenue, pre-tax profit ảnh 1Petrovietnam sets new records in revenue, pre-tax profit. - Illustrative image (Photo: Petrovietnam)
Hanoi (VNA) - By the end of November, the Vietnam Oil and Gas Group (Petrovietnam) had completed all targets of finance and oil and gas exploitation and production in 2022 ahead of schedule, and set new records in revenue and pre-tax profit, according to its General Director Le Manh Hung.

The crude oil output in the first 11 months of 2022 reached 9.91 million tonnes, exceeding the yearly target by 13%.

The group's total revenue in 2022 reached the highest ever level of 854 trillion VND (over 36.22 billion USD). It contributed 134.5 trillion VND to the State budget, completing the plan set for the year ahead of six months.

As of November 16, the group fulfilled the mining development plan set for the year, putting five new mines into operation, actively contributing to increasing output, ensuring stable exploitation from mines of the group in 2022 and next years.

In the context of complicated fluctuations in crude oil prices, plunging world oil prices, and decreasing oil demand in Europe and the US due to the impact of the economic recession, Petrovietnam still achieved positive production and business results in November and the first 11 months of 2022 thanks to taking effective and timely solutions.

The group's units have focused on diversifying forms of linkage and cooperation in order to optimise available resources and assets, contributing to improving its competitiveness and sustainable development.

Promoting scientific research and development, application of technology, and digital transformation, have proven effective, practically  contributing to the firm's production, business, growth and development, Hung noted.

Besides production-related solutions, Petrovietnam will continue to implement volatility and cost management, and market solutions for products and services in the coming time in order to stabilise its production and business activities, he added./.
VNA
#Vietnam Oil and Gas Group #Petrovietnam #revenue and pre-tax profit #record #total revenue #Vietnamplus #Vietnam news #Vietnam News Agency
Follow VietnamPlus

Related News

PetroVietnam endeavours to ensure energy supply

PetroVietnam endeavours to ensure energy supply

The Vietnam Oil and Gas Group (PetroVietnam) has made every effort to ensure electricity, gas and petroleum supplies in the context of market tension, affirming its pivotal role in the country's economy.
Thi Vai LNG project reaches 97% completion

Thi Vai LNG project reaches 97% completion

The one-million-tonne Thi Vai LNG storage project invested by Petrovietnam Gas Joint Stock Corporation (PV GAS) has reached 97.08% of the progress, with a total safe time of more than 2.73 million hours and no occupational accidents during project implementation.
PetroVietnam negotiates with Algeria for 2nd phase of oil & gas joint venture

PetroVietnam negotiates with Algeria for 2nd phase of oil & gas joint venture

A delegation of the Vietnam Oil and Gas Group (Petrovietnam) led by Chairman of Members' Council Hoang Quoc Vuong had a working session on November 7 with representatives from relevant agencies of Algeria to speed up the implementation of the second phase of a tripartite joint venture project at the Bir Seba field in the African country.

See more

Motorcycle riders refill their vehicles at a petrol station in Hanoi (Photo: VNA)

E5 RON92 biofuel price falls in latest adjustment

Since the beginning of this year, domestic fuel prices have undergone 14 adjustments, including five decreases and nine increases for RON95 and six declines and eight hikes for E5 RON92. Meanwhile, diesel price has fallen three times and risen 11 times.

A French customer is tasting Vietnamese lychee. (Photo: VNA)

Vietnamese agricultural products boost global brand recognition

Vietnam aims to achieve about 74 billion USD in agro-forestry-fishery export turnover this year. Expanding value-added products, improving quality standards and strengthening brand building, especially through international supermarket systems, will be key to enhancing the competitiveness and global recognition of Vietnamese agricultural products.

An apartment building developed by BCONS in Binh Duong (Photo: VNA)

Resolution 68 boosts businesses entering market

By the end of 2025, Vietnam had more than one million active enterprises. In the first two months of 2026, about 64,500 enterprises entered or re-entered the market, up 29.4% year-on-year, averaging 32,200 newly established or returning businesses per month.

A Vinh Long official introduces signature local products to Korean guests. (Photo: VNA)

Vinh Long courts Korean investment in key sectors

Vice Chairman of the provincial People’s Committee Nguyen Truc Son vowed to accompany investors and provide them with optimal conditions, while building a transparent and stable business environment to secure long-term engagement from foreign enterprises, particularly those from Daejeon.

Delegates at the launching ceremony (Photo: VNA)

Digital platform on overseas market development launched

With Vietnam’s network of 64 trade offices overseas, Deputy PM Son noted that connecting them through a modern digital platform could help establish a unified national trade information system that operates efficiently, transparently and with strong forecasting capacity.

The Government’s issuance of Decree No. 72/2026/ND-CP revising preferential import tariffs on several petrol products and raw materials is a timely move to diversify supply sources. (Photo: VNA)

Fuel import tariff cuts strengthen Vietnam’s energy resilience: experts

Economic expert Dinh Trong Thinh said revising fuel import tariffs helps diversify supply sources and reduce reliance on traditional markets, thereby strengthening Vietnam’s ability to cope with potential global supply shocks. Ensuring access to multiple energy sources is also vital for safeguarding national energy security, he added.

Leaders of Dak Lak province inspect IUU fishing prevention and control efforts at Phu Lac fishing port, Hoa Hiep ward. (Photo: daklak.gov.vn)

Dak Lak readies for EC mission on anti-IUU fishing efforts

Dak Lak province is completing preparations for an upcoming European Commission (EC) inspection on efforts to combat illegal, unreported and unregulated (IUU) fishing, with a view to having the fisheries “yellow card” removed.

Vietnamese Ambassador to Argentina Ngo Minh Nguyet speaks at the event. (Photo: VNA)

Vietnam, Argentina promote trade, investment cooperation

On relations with South America, Nguyet noted that in December 2025, Vietnam and the Southern Common Market (MERCOSUR) announced the launch of negotiations for a Preferential Trade Agreement (PTA). She expressed her hope that the agreement will be signed soon, thereby further boosting trade and investment between Vietnam and MERCOSUR member states, including Argentina.

Customers buy petrol at a Petrolimex petrol station in Tran Hung Dao ward, Hung Yen province. (Photo: VNA)

PM orders stronger measures to ensure stable petrol supply

The MoIT was instructed to direct key petrol producers and traders to proactively develop supply plans to guarantee adequate fuel provision for distribution systems, maintain regular sale operations, and sell products at listed prices. It must also closely monitor developments in global and domestic petrol markets and adopt appropriate management measures when necessary.

Farmers in Ca Mau province use combine harvesters to harvest rice. (Photo: VNA)

PM orders coordinated measures to stabilise rice production and markets

The Minister of Agriculture and Environment is tasked with instructing local authorities to closely monitor production developments, improve forecasting capacity, strengthen pest control measures, and proactively respond to adverse weather conditions to protect crops, maintain planned yields and output, and reduce production costs.

A worker refuels a vehicle at a petrol station in Hung Yen province. (Photo: VNA)

Fuel prices slashed as stabilisation fund used

According to a joint decision by the Ministry of Industry and Trade and the Ministry of Finance, the price of RON95-III petrol – the most widely used grade – fell by 3,880 VND to 25,240 VND (0.95 USD) per litre.