The remarks were made at Petrovietnam’s conference reviewing production and business performance in 2025 and outlining tasks for 2026, held in Hanoi on December 26.

At the event, PM Chinh presented the decision appointing Le Ngoc Son, a member of the Members’ Council and Chief Executive Officer of Petrovietnam, as Chairman of the Members’ Council of the group.

Reporting at the conference, Le Ngoc Son said Petrovietnam had fulfilled and exceeded all assigned production and business targets for 2025 and for the 2021–2025 period, recording strong growth across its operations.

For the fourth consecutive year, the group set a new revenue record, with total revenue exceeding VND 1.1 quadrillion, up 10% from the previous year. State budget contributions in 2025 reached nearly VND 166 trillion, surpassing the plan by 80%. Consolidated pre-tax profit stood at more than VND 62.6 trillion, an increase of 13%, making Petrovietnam the country’s most profitable state-owned enterprise.

Investment disbursement in 2025 hit VND 51 trillion, up nearly 44%. Crude oil output rose by 0.8% compared with the previous year, marking the first increase after 11 consecutive years of decline.

Electricity generation increased by 7.3%, petroleum production by 17.6% and fertiliser output by 32.4%. Consolidated total assets were estimated at nearly VND 1.2 quadrillion, while consolidated equity stood at about VND 587 trillion.

Under the 2026 theme of “Technology leadership and innovation; green transition; value creation; strengthening national energy standing; and global expansion,” Le Ngoc Son said Petrovietnam aims to meet all assigned targets and make a substantial contribution to the country’s double-digit growth objective.

He said the group will focus on solutions across production, business, investment and finance; increase reserves; maintain and raise output across all core areas; improve the performance of underperforming projects and units; and ensure energy security alongside capacity transition and green growth.

At the same time, Petrovietnam will strengthen science and technology, innovation, energy transition and corporate culture, treating these as foundations for long-term, sustainable development while continuing to support national construction and defence.

Addressing the conference, the Government leader praised Petrovietnam for its strong efforts, decisive action and continuous renewal, noting the group’s pride in being “warriors of the oil and gas sector.”

He summarised the group’s achievements across fields in what he described as “32 words”: unity of will; warrior spirit; comprehensive results; innovative thinking; deep integration; smart governance; human-centred values; and wide-reaching impact.

“One important lesson is that strong development comes from staying true to the oil and gas profession, exploration, production, processing and import-export cooperation.

Every breakthrough we have made has come from doing the right job,” the Government chief said. He added that Petrovietnam is now operating under particularly favourable conditions, with internal unity, growing maturity and strong international credibility.

Looking ahead, he called on Petrovietnam to take the lead in achieving double-digit growth and, in doing so, help guide other industries, build a broader oil and gas ecosystem and grow alongside other major corporations.

He outlined four priorities: first, taking the lead in institutional reform and policy development; second, leading in the application of science and technology, digital transformation and the green transition, including renewable energy and hydrogen; third, leading in modernizing governance, restructuring operations and improving business efficiency, including acting as a general contractor for major energy projects; and fourth, leading in international integration to participate more deeply in global value chains.

PM Chinh also urged Petrovietnam to pioneer new thinking and working methods, confront difficulties head-on and act decisively, while leading efforts in thrift and waste prevention. He stressed that development should be guided by the principle of “three benefits”, benefiting the country, the people and businesses, and “two prohibitions”: no personal motives, corruption or misconduct, and no loss or waste of state assets.

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