Vietnamese state-owned petroleum company distributes over 942 million USD in investment across 7 months
Petrovietnam, Vietnam's national oil and gas group, has reported impressive financial results for the first seven months of 2025. The company earned VNĐ5.2 trillion from new products driven by science, technology, and innovation, contributing to the consolidated revenue of VNĐ602.1 trillion [1].
The group's key projects and initiatives for 2025 are focused on accelerating investment in production and infrastructure, expanding international partnerships, and developing new energy industrial centers. One of the major projects underway is the Long Phú 1 thermal power plant, which resumed construction in early 2025 and is progressing with boiler installation [1][3]. Unit 1 is expected to begin commercial operations by July 2027, and unit 2 by December 2027, expanding Vietnam’s power generation capacity and supporting energy security.
Petrovietnam is also enhancing strategic international cooperation, such as the deepened partnership with Perenco on oil and gas exploration and production under the recently signed Production Sharing Contract for Block 15-1. This collaboration reinforces upstream energy development and contributes to the country's sustainable energy goals [4].
In addition, the group aims to establish national energy industrial centers to sustain growth and maximize profits. They are focusing on expanding output in exploration, refining, gas-to-power, and new products driven by science, technology, and innovation, while diversifying revenue sources both domestically and internationally to reduce market reliance [1][2].
Operationally, Petrovietnam is optimizing capital use, cash flow, and workforce quality, and has reported strong performance in service operations such as shipbuilding and renewable energy project construction, which saw significant revenue growth in 2025 [1][2].
Petrovietnam has also made significant strides in its production sectors. Electricity output increased by 9.8%, petroleum (excluding Nghi Sơn output) rose by 23.4%, NPK fertilisers surged by 53.8%, and polypropylene output jumped by 34.6% year-on-year [1]. The group has also exceeded several internal targets by 1-10% during the period, including electricity output, petroleum production, urea and NPK fertilisers, and LPG [1].
Moreover, the Kình Ngư Trắng - Kình Ngư Trắng Nam oil field began producing ahead of schedule on July 14, and revenues from the construction of oil, gas, and renewable energy projects grew by 88% for Petrovietnam [1][2].
Petrovietnam Chairman Lê Mạnh Hùng emphasized the focus on sustaining growth and maximising profits in the remaining months of 2025. The group is reviewing and advancing investment portfolios to meet its 2025 objectives, and is closely tracking domestic and global developments, assessing risks, and identifying new growth drivers [1].
In the remaining months of 2025, Petrovietnam aims to establish national energy industrial centres. The group has partnered with the National Textile and Garment Group (VINATEX) to strengthen linkages in the chemical and textile sectors, and has expanded cooperation with Brazilian energy companies during Prime Minister Phạm Minh Chính's trip to the 17th BRICS Summit [1].
Problematic projects are being closely monitored through standardised management systems, ensuring transparency and accountability in Petrovietnam's operations [1]. With these initiatives, Petrovietnam is poised to continue its role in securing Vietnam's energy needs and driving economic growth.
[1] Petrovietnam's official website [2] Various news articles on Petrovietnam's 2025 performance [3] Long Phú 1 thermal power plant official website [4] Perenco's official website
- The energy sectorof Vietnam, spearheaded by Petrovietnam, is relying on technological advancements and innovative new products to drive further growth and investments in 2025.
- As part of Petrovietnam's business strategy, the group is striving to diversify its revenue sources, both domestically and internationally, to reduce market reliance and optimize capital use.
- Science, technology, and innovation are key elements in the group's projects, with the Long Phú 1 thermal power plant installation progressing as planned to expand Vietnam's power generation capacity and support energy security.
- In order to achieve their objectives for 2025, Petrovietnam is leveraging strategic international partnerships, as seen through their ongoing collaborations with companies like Perenco.
- Artificial intelligence, along with labor and industry, is playing a crucial role in Petrovietnam's operations, particularly in service sectors such as shipbuilding and renewable energy project construction, which have brought significant growth in 2025.
