It is also the highest-ranking Vietnamese enterprise by revenue. This is the first time Petrovietnam has appeared in a regional or global Fortune ranking, marking a major milestone in the group’s 50-year development. Its strong placement indicates sustained efforts in strategic governance, operational efficiency, and agile adaptation to a volatile global market.

The list, compiled by Fortune in Singapore, ranks Southeast Asian firms based on their 2024 fiscal revenue. The energy sector dominated the list, accounting for nearly one-third of total revenue, with Petrovietnam standing out as Vietnam’s leading energy player.

In 2024, Petrovietnam exceeded all key performance indicators by 6% to 27%. It posted record revenue of more than VND1 quadrillion, contributed VND165.6 trillion to the State budget, and invested over VND38 trillion, up 49% from 2023. The group also fulfilled and surpassed all financial targets under its 2021–2025 five-year plan.

Alongside strengthening core operations, Petrovietnam expanded its role in offshore energy and integrated into the global energy supply chain for the first time. It has also adopted modern management practices and maintained a strong commitment to sustainability.

The group credits its performance to a high-caliber workforce and consistent values of professionalism, unity, and innovation. These have helped reinforce internal strength and extend the group’s influence regionally.

According to Fortune, 76 Vietnamese companies were featured in this year’s list, with a combined revenue of over US$161 billion and more than 1.1 million employees. Petrovietnam remains one of the largest contributors to these national figures.

The 2025 Fortune 500 Southeast Asia ranking is the magazine’s second annual list for the region, highlighting the rise of Southeast Asian firms as key global manufacturing and investment hubs amid shifts in global supply chains.

Petrovietnam exceeds business, financial targets in January

The Vietnam Oil and Gas Group (Petrovietnam) has exceeded its business and financial targets in January by maintaining stable, safe, and continuous operations while ensuring the supply of essential products for socio-economic development.