PetroVietnam featured as most profitable firm in 2024

This represents the sixth consecutive year that the group has secured the leading position, affirming its operation efficacy over recent years with sound financial health, as well as flexible management capacity recognized by reputable domestic and international organizations.

PetroVietnam maintained both stable and effective operations during the January to July period as most of its production and financial criteria exceeded the set plans by 4.4% to 75% and were better than the results recorded in the same time last year.

During the course of the seven-month span the group’s total revenue was estimated to be at VND567.4 trillion, equal to over US$23 billion, 31% higher than the set target and up 14% on-year. It contributed VND84.6 trillion to the state budget, thereby surpassing the plan by 54% and up 8% against the same period from last year.

Meanwhile, its profits before tax were VND29.6 trillion, exceeding the goal by 75%.

Other firms in the top 10 most profitable list include military-run telecom service provider Viettel, Samsung Electronics Vietnam Thai Nguyen, Vietcombank, BIDV, MBBank, Agribank, VietinBank, Techcombank, and Petrovietnam Exploration Production Corporation.

Several subsidiaries of PetroVietnam were also named in the list, including PetroVietnam Gas Joint Stock Corporation (PV Gas) in 12th place, Binh Son Refining and Petrochemical JSC at 19th, PetroVietnam Transportation Corporation at 85th, and PetroVietnam Power Corporation at 90th.

Launched by the Vietnam Report and the online newspaper Vietnamnet, the PROFIT500 list recognizes the contributions to the nation made by leading corporations over the past eight years, helping to introduce and promote Vietnamese brands among the domestic and international business community, as well as potential investors.

A ceremony to announce and honour the firms will be launched in Hanoi this October.