Hanoi (VNA) – The Vietnam National Oil and Gas Group (Petrovietnam) and the Vietnam National Coal and Mineral Industries Holding Cooperation Limited (Vinacomin) recently held a high-level working session in Hanoi to review progress and accelerate the implementation of their comprehensive cooperation agreement signed earlier this year.
The meeting was co-chaired by Petrovietnam General Director Le Ngoc Son and Vinacomin General Director Vu Anh Tuan, with the participation of board members, executives, technical departments and affiliated units from both groups.
According to the executives, the partnership aims to capitalise on the strengths and resources of two of Vietnam’s largest state-owned enterprises in the energy sector.
On April 10, 2025, Petrovietnam and Vinacomin signed a wide-ranging cooperation agreement outlining priority areas such as the use of each other’s products and services; joint use of infrastructure; investment to improve the efficiency of the energy value chain; research on new products aligned with green and sustainable development trends; science and technology; digital transformation; management practices; and the development of high-quality human resources.
Immediately after the signing, both groups and their subsidiaries, including PVOIL, PVFCCo, PVChem, PVTrans, PVI, PVcomBank and PVMR began coordinating with Vinacomin units to identify concrete cooperation items.
On June 23, 2025, the two sides held a technical meeting and agreed on seven groups of tasks to translate the framework agreement into practical activities. Subsidiaries from both sides have since engaged in direct exchanges, site surveys and joint assessments to determine viable opportunities and implementation solutions.
Initial outcomes have been positive, although cooperation has so far centred mostly on commercial transactions. Through continued discussions, both groups have explored options to broaden their collaboration across fuel supply, logistics, insurance and finance, chemicals, technical services and mechanical manufacturing.
These early results mark a shift from a framework-level agreement to more substantive and expanded cooperation, laying a foundation for a more integrated energy–minerals–materials value chain serving national industrial development.
Addressing the meeting, Petrovietnam General Director Le Ngoc Son stressed that both groups serve as key pillars in ensuring Vietnam’s energy security.
He said recent achievements showed encouraging signals and should be further strengthened. He noted that traditional areas of cooperation such as supplying fuel products, LPG/CNG, green-fuel transition solutions, maintenance and repair services, transportation, carbon credits, banking and insurance should continue to receive priority.
At the same time, he called for intensified joint research and development of new projects and products, particularly technology for gas–coal blending, emission reduction solutions for thermal power plants, deep-sea mineral exploitation, and the development of integrated industrial–energy ecosystems linked to supporting industrial zones.
He also highlighted opportunities for cooperation in management practices, technological innovation, digital transformation, as well as investment and commercial activities involving metal and chemical products. He said both sides should work closely to study and propose legal adjustments to remove bottlenecks in mining development.
The Petrovietnam leader requested that deputy general directors overseeing relevant areas instruct specialised departments and member units to expedite cooperation tasks to deliver practical and measurable outcomes. He reaffirmed Petrovietnam’s commitment to further deepening collaboration with Vinacomin, contributing to national energy security and socio-economic development.
For his part, Vinacomin General Director Vu Anh Tuan said the cooperation between the two state-owned groups align well with current needs, particularly in a context of increasing market volatility. He noted that stronger coordination among major national enterprises is essential for sustained development.
On behalf of the Vinacomin leadership, he congratulated Petrovietnam on its achievements over the past half-century, acknowledging the group’s significant contribution to national economic growth.
He reaffirmed Vinacomin's determination to share experience, leverage mutual advantages and ensure the most effective implementation of the cooperation agreement, supporting the country as it enters a new phase of development./.
