Amid Volatility, PVFCCo Maintains Strong Performance in First Half of 2026

Navigating a fertilizer and chemical market marked by significant fluctuations, PVFCCo – Phú Mỹ, a member company of PetroVietnam, has delivered solid operational results in the first six months of 2026. The company has exceeded all five governance targets and achieved key growth objectives, laying a robust foundation for full-year performance.

On the afternoon of July 17, PetroVietnam Fertilizer and Chemicals Corporation – Phú Mỹ (PVFCCo – Phú Mỹ) convened a mid-year conference to review its Party organization activities and business operations for the first half of 2026, while charting priorities for the second half of the year.

Mid-Year Review Conference: Party Building, Business Operations, and Strategic Initiatives for H2 2026

The conference was chaired and guided by Comrade Nguyễn Xuân Hòa, Party Secretary and Board Chairman of PVFCCo; Comrade Phan Công Thành, Deputy Party Secretary and CEO, alongside other members of the Party Committee, Board of Management, and leaders of subsidiary units.

Comprehensive Growth Amid Market Headwinds

During the first half of 2026, global and domestic fertilizer and chemical markets have remained under pressure from volatile supply-demand dynamics, fluctuating raw material costs, shifting trade policies, and intensifying competitive pressures. Industry enterprises face mounting requirements to enhance management capabilities, optimize costs, accelerate digital transformation, and drive innovation to boost operational efficiency and competitive advantage.

For PVFCCo – Phú Mỿ, 2026 represents a critical inaugural year for implementing strategic objectives and missions outlined in the Party Congress resolutions for 2025–2030. Simultaneously, the company continues advancing enterprise restructuring, refining governance models, developing human resources, driving digital transformation, and enhancing operational effectiveness.

Against this backdrop, the Party Committee has provided comprehensive leadership and guidance, achieving notable results. Party building work remains aligned with regulations and operational realities; mass mobilization and democratic practices at grassroots levels are systematically deployed, ensuring compliance with applicable policies and legal requirements. Notably, PVFCCo – Phú Mỳ has successfully transferred its Party organization from the Group Party Committee to Sài Gòn District Party Committee as directed.

Mr.Tống Xuân Phong, Standing Committee Member of the Party Committee and Chair of Phú Mỳ Union: "The Party Committee has provided comprehensive leadership, achieving numerous notable results in the first half of 2026."

Despite sustained high levels of gas prices, exchange rates, and input costs, PVFCCo – Phú Mỳ has maintained positive momentum. Total fertilizer and chemical production reached approximately 551,000 metric tons, with both Phú Mỳ Urea and Phú Mỳ NPK exceeding their six-month targets.

 Mr. Hoang Tuan Vinh - Head of Planning and Investment Department of FVFCCo - Phu My - reported on production and business activities for the first six months of 2026.

On the sales front, the company moved approximately 972,000 metric tons of fertilizers and chemicals. Fertilizer sales reached over 906,000 metric tons, surpassing the six-month plan. Phú Mỳ NPK has emerged as a standout performer, with sales volumes around 144,000 metric tons—equivalent to nearly 80% of the annual target and nearly matching full-year 2025 sales.

The chemicals segment has sustained positive growth momentum, with business sales reaching approximately 66,000 metric tons. Both revenue and profit targets have exceeded the six-month plan, with the company fulfilling all five governance targets and growth metrics set by PetroVietnam National Oil and Gas Group.

To achieve these results, beyond capitalizing on market opportunities, PVFCCo – Phú Mỳ has systematically deployed cost-saving measures, optimized operational efficiency, applied advanced technologies, and implemented technical improvements—generating approximately VND 90 billion in cost savings.

Parallel to production and sales, PVFCCo – Phú Mỳ has accelerated priority investment projects to expand growth prospects. Projects in H₂O₂ production, argon recovery, and recovery of hydrogen and nitrogen from exhaust streams are advancing toward implementation. The company is also evaluating investment opportunities in NaOH, H₂SO₄/NH₃ chains at Nghi Sơn, and other chemical products and value-chain initiatives.

Strengthening the Foundation for Sustainable Long-Term Growth

In the second half of 2026, PVFCCo – Phú Mỳ anticipates continued impacts from geopolitical volatility, oil price fluctuations, transportation costs, gas supply challenges, tax policies, and competitive pressures.

The company will prioritize safe, stable, and efficient operation of the Phú Mỳ Ammonia Plant and production facilities, while accelerating technology adoption, optimizing operations, controlling costs, and enhancing product quality. On the commercial front, PVFCCo – Phú Mỳ will monitor market trends closely, manage inventory according to seasonal demand and geographic needs, and strengthen forecasting and analysis to enable proactive market adaptation.

Concurrently, the company will accelerate priority investment initiatives, focusing on the chemicals sector and high-value-added products to generate fresh momentum for the next development phase.

The conference also reviewed business performance updates, capital project progress, and strategic initiatives for reorganizing the chemicals operations division, with participants proposing solutions for completing 2026 targets.

Representatives from the Business Division presented: "First Half 2026 Business Results and Strategies for Completing H2 2026 Targets"

Representatives from the Project Development Management Division presented: "Accelerating Capital Investment Project Timelines"

Representatives from the Chemicals Trading Division presented: "Effective Implementation Plan for the Limited Liability Company Model in Chemicals Business"

Strategic Direction and Recognition

In closing remarks, Comrade Nguyễn Xuân Hòa acknowledged PVFCCo's positive performance in the first half while calling for continued innovation in governance mechanisms and management approaches. He emphasized the imperative to maintain safe, stable, and optimized plant operations; accelerate product diversification and development of premium fertilizers, new products, and non-traditional offerings.

Chairman Nguyễn Xuân Hòa also directed the company to concentrate resources on chemical sector investment, research, application, and development—positioning chemicals as a critical growth driver in the coming period—with firm commitment to achieving 2026 objectives and establishing foundations for subsequent development phases.

During the conference, PVFCCo's Party Committee presented the 30-Year Party Badge (awarded on February 3, 2026) to Comrade Vương Việt Bắc, a party member of the Safety-Health-Environment Unit, Phú Mỳ Ammonia Plant Party Organization. The conference also honored and commended nine units with outstanding achievements and exceptional performance in the first half of 2026.

 

Mr. Nguyễn Xuân Hòa, Party Secretary and Chairman, and Phan Công Thành, Deputy Party Secretary, President & CEO, and Board Member, presented recognition and commendations to nine outstanding units for their exceptional performance in H1 2026.