Vietnamese Entrepreneurs’ Day on October 13 is known by many as the New Year of Entrepreneurs. This year, the Entrepreneurial New Year takes on a new color when the Vietnamese business community has just overcome the storm of the Covid-19 pandemic. In particular, the Vietnam National Oil and Gas Group (Petrovietnam) stands out with an impressive growth recovery.
President Nguyen Xuan Phuc congratulated Petrovietnam Chairman of the Board of Directors Hoang Quoc Vuong
On the occasion of Vietnam Entrepreneurs Day, on the morning of October 10, 2022, at the Presidential Palace, Mr. Hoang Quoc Vuong – Secretary of the Party Committee, Chairman of the Board of Directors, and Mr. Le Manh Hung – General Director of Petrovietnam joined the leaders. Enterprises belonging to the Party Committee of the Central Business Sector had a meeting with President Nguyen Xuan Phuc. Report to the President, Mr. Hoang Quoc Vuong – Secretary of the Party Committee, Chairman of the Board of Members of the Group highlighted several results and achievements of Petroietnam in recent years. Through more than 6 decades of establishment and development, from formerly a small survey team, Petrovietnam has become a large economic group with total consolidated assets of over 40 billion USD; consolidated equity of 21.5 billion USD; with a team of nearly 60,000 employees who are working creatively in the fields of the oil and gas value chain, specifically: Oil and gas prospecting, exploration and exploitation; Gas industry; Petroleum processing; Electrical industry and renewable energy; and High-quality Petroleum Technical Services. Over the years, together with Party organizations under the Central Business Sector Party Committee, the Group Party Committee has led Petrovietnam to make important contributions to the cause of industrialization and modernization of the country; contributing to ensuring energy security, food security; making great contributions to budget revenue and the country’s socio-economic development; taking the lead in international economic integration, actively contributing to the defense of the country’s sovereignty over sea and islands
Prime Minister Pham Minh Chinh presents the title of Top 10 Most Typical Entrepreneurs in Vietnam 2022 to Petrovietnam General Director Le Manh Hung
The year 2020, can be said to be the most difficult year in the 47-year history of Petrovietnam’s establishment so far when the Group has to face the double crisis of the Covid-19 pandemic and the unprecedented decline in crude oil prices. in the history of oil and gas transactions. However, by effectively implementing a package of dual-impact response solutions, gradually handling existing problems, and re-establishing the foundation for sustainable development, by the end of 2020, Petrovietnam has completed the task. completed and exceeded the assigned plan targets, contributed VND 83 trillion to the state budget, reaching 101% of the 2020 plan, making an important contribution to the GDP growth of the country, and balancing the state budget. water.
Entering 2021, inheriting and continuing to promote the achieved results, Petrovietnam continues to firmly overcome the storm, complete all aspects of production and business activities, and achieve the growth target. , contributed 112.5 trillion VND to the State budget, exceeding 80% of the year plan, up 36% compared to 2020. Business results of Petrovietnam led 19 groups and corporations under the State Capital Management Committee. water in the enterprise.
Top 10 Ranking of Best Profitable Enterprises in Vietnam in 2022
By ensuring the maintenance of the mining rhythm, especially in the main mines; Production management, technical solutions are applied continuously, synchronously, and timely, in the first 9 months of 2022, Petrovietnam has exploited crude oil reaching 8.15 million tons, exceeding 23% of the plan. 9 months and equal to 93% of the plan in 2022, equal to the performance of the same period in 2021. Protein production in 9 months, exceeding 9% of the plan for 9 months, an increase of 7% compared to the same period in 2021. Petroleum production (excluding companies) Nghi Son Refinery and Petrochemical) in 9 months reached 5.16 million tons, exceeding 9% of the 9-month plan and increasing by 8% compared to the same period in 2021. Producing gas, electricity, and other products to meet the maximum market demand.
Along with efforts in production, Petrovietnam’s financial targets have exceeded the target. The total revenue of the Group in the first 9 months of 2022 is estimated at 698.3 trillion VND, exceeding 25% of the whole-year plan and increasing by 56% compared to the same period in 2021. Paying to the whole Group’s budget is estimated at 102.9 trillion VND, exceeding 59% of the plan in 2022 and increasing by 51% over the same period in 2021, making a great contribution to the national budget revenue. By the end of the first nine months of the year, Petrovietnam has exceeded the limit, finishing ahead of four targets: Group-wide revenue, consolidated revenue, consolidated profit before tax, and payment to the state budget
Representatives of 10 strong Vietnamese brands honored at the program
With these achievements, Petrovietnam has continuously been in the Top 10 “Vietnam’s Most Valuable Brands”. According to a recent assessment by Brand Finance, the world’s leading brand valuation company, the Petrovietnam brand is valued at nearly $1.3 billion, up from $918 million in the 2021 valuation period; brand strength index of 70.8 and maintains a brand strength rating at AA.
On October 12, 2022, Petrovietnam continued to be in the Top 10 “Vietnam’s Strong Brands” voted by the leading economic press agency of Vietnam (Vietnam Economic Times) through the press and media system. The program recognizes and honors reputable, effective business brands with many impressive achievements in restoring and developing products and business activities after the severe impact of the Covid-19 pandemic. In particular, Petrovietnam clearly shows its vision, and mission as well as an action plan in green transformation, digital transformation, sustainable development, humanity, and inclusion.
Representative of Petrovietnam received the title of Top 10 most valuable brands in Vietnam in 2022
Not only that, the Profit500 Ranking conducted by Vietnam Report has confirmed that Petrovietnam is the most profitable enterprise in Vietnam in 2022. This is an annual activity to honor capable businesses. generate good profits, have the potential to become pillars for the development of Vietnam’s economy, and at the same time contribute to introducing Vietnamese business brands to the domestic and international business community.
At the Vietnam Entrepreneurs Day celebration organized by the Vietnam Confederation of Commerce and Industry (VCCI), Prime Minister Pham Minh Chinh awarded Petrovietnam General Director Le Manh Hung the title of “Vietnamese Entrepreneur of the Year”. most representative in 2022″. The title of Typical Vietnamese Entrepreneur is judged and awarded by VCCI based on the great efforts and contributions of the business community and enterprises, both in the construction and development of the country’s economy and in the national economy. Working together with the whole country to fight against the COVID-19 pandemic over the past time. They are leaders and managers of businesses, belonging to all economic sectors, each entrepreneur is an example, a good story about entrepreneurial spirit, bravery, intelligence, and social responsibility. This year is the first year that the Top 10 Most Typical Vietnamese Entrepreneurs converge the faces of famous businessmen. The recognition of General Director Le Manh Hung is also a common honor of Petrovietnam.
Oil and gas exploitation activities at Bach Ho field
The titles that Petrovietnam has achieved consecutively in the past short time have been objectively evaluated and recognized by prestigious domestic and international organizations. It is not only a great meaningful gift for the leadership, staff, and employees of Oil and Gas on the occasion of the Business New Year 13/10, but also once again affirms the strength of the brand and the love of the company. Petro VietNam’s healthy financial position, flexible management capacity, and operational efficiency in recent years.
