Efforts through Tet, starting 2025 at a high pace
In January 2025, Vietnam's PMI decreased by 0.9 points compared to December 2024, down to 48.9 points, showing that domestic production activities continue to face difficulties. Prices of energy products fluctuated with alternating ups and downs. In particular, crude oil prices increased slightly again, gas prices were unpredictable, LNG prices edged up while average refining and petrochemical profit margins decreased compared to the previous month... In particular, the 9-day Lunar New Year holiday in 2025 caused a decrease in energy consumption demand. In that context, Petrovietnam still strived to maintain safe, stable operations and continuous operation throughout Tet, exceeding the plan for most of the main production and business targets.
Right from the beginning of the year, PVN issued resolutions and instructions on implementing key tasks and solutions to implement the 2025 plan with the goal of higher growth than the previous year. The Group's leaders regularly organize inspections and urge the progress of key projects and works, and at the same time direct units to strictly comply with safety work, ensuring continuous production operations at the Group's works, factories and projects.
Accordingly, crude oil production reached 0.804 million tons, exceeding the monthly plan by 5.8%; gas production reached 0.458 billion m3, exceeding the monthly plan by 7.9%; nitrogen production reached 164.2 thousand tons, exceeding the monthly plan by 5.1% and increasing by 2% over the same period in 2024; gasoline production (excluding Nghi Son Refinery and Petrochemical Company Limited - NSRP) reached 594.2 thousand tons, exceeding the plan by 3.6%; NPK production reached 32.2 thousand tons, increasing by 39.1% over the same period in 2024.
The Group's key financial indicators exceeded the monthly plan by 13-61% and reached the same level as the same period in 2024. The Group's total revenue in January 2025 is estimated at VND 77.4 trillion, exceeding the monthly plan by 18% and equivalent to the same period in 2024; the Group's budget contribution is estimated at VND 10.3 trillion, exceeding the monthly plan by 12%, continuing to affirm Petrovietnam's important contribution to the economy.
The total investment value of the Group in the month is estimated at 2.3 trillion VND, an increase of 35% over the same period in 2024.
Chairman of the Board of Directors Le Manh Hung and leaders of Dong Nai province inspected the progress of the Nhon Trach 3 and 4 Thermal Power Plant project.
The Group strictly controls the investment progress of projects, especially key projects, and maintains continuous operations during the Lunar New Year holiday. Typically, the overall progress of the Nhon Trach 3 and Nhon Trach 4 thermal power plant projects is currently over 96%, having fired for the first time with gas on January 11, 2025, and synchronously connected to the grid at 11:11 on February 5, 2025 - marking an important milestone in the process of putting Vietnam's first LNG power project into commercial operation. In addition, with determination and enthusiasm at the beginning of the new year, on January 6, 2025, Petrovietnam held a launching ceremony to accelerate the completion of the Long Phu 1 thermal power plant project.
At Petrovietnam's member units, business results in January 2025 continued to record positive signals. Specifically, 11 units had high growth in consolidated revenue from 0.4-95% and 8 units had growth in consolidated pre-tax profit from 7% to 3 times compared to the same period of the month.
Petrovietnam General Director Le Ngoc Son inspects the operation of Thai Binh 2 thermal power plant.
Mobilizing all resources for the pivotal year of "double-digit" growth
2025 is a pivotal year for the 2021-2025 period, the year PVN sets a target of "double-digit" growth, and aims to organize Party Congresses at all levels as well as celebrate the 50th anniversary of the Group's founding. Work organization in the first quarter and the whole year of 2025 is carried out synchronously by Petrovietnam, aiming to achieve high results in production and business.
The whole Group also focused on assessing the implementation of the 5-year plan 2021-2025 to successfully complete the set goals, review the work plan for the period 2026-2030; promote the work of building industry strategies and Group strategies, in line with the spirit of Conclusion No. 76-KL/TW of the Politburo; implement other tasks such as restructuring, model innovation, promoting research, application of science and technology, innovation, digital transformation, etc.
For each specific field, the Exploration and Exploitation Block, PVN will focus on solutions to accelerate projects, increase reserves, remove obstacles, and create a premise for the next phase. The Petrochemical Block continues to develop new products, especially green products, energy transition, creating new momentum to increase revenue. The Gas-Electricity-Fertilizer Block will continue to optimize production and business activities and focus on increasing revenue. In particular, increasing LNG supply will contribute to increasing revenue in 2025, contributing to the "double-digit" growth target of the entire Group. The Service Block accompanies other blocks in the Petrovietnam ecosystem, promoting successes in the past, striving to increase the rate of service provision to outside industries and internationally.
Starting 2025 with full enthusiasm, Petrovietnam affirms its breakthrough, realizing the target of "double-digit" growth, ensuring energy security and actively contributing to the economy, towards the milestone of 50 years of sustainable development.
Source: https://baochinhphu.vn/petrovietnam-but-pha-ngay-tu-thang-dau-nam-2025-dat-nen-mong-cho-tang-truong-hai-con-so-102250214154533918.htm
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