Petrovietnam innovates from the core to achieve "double-digit" growth

Petrovietnam innovates from the core to achieve "double-digit" growth

In order to focus on implementing and completing the above goals, from the beginning of 2025, the Party Executive Committee of the Group issued Resolution 950-NQ/DU on leadership in implementing tasks in 2025.

Innovation from the core, outstanding development

The working theme for 2025 was determined by the Group's Party Committee as "Innovation from the core; developing outstanding models; integrating into the global chain; enhancing energy knowledge; making a breakthrough in growth; creating a sustainable green shift".

Accordingly, Petrovietnam continues to effectively implement political and production and business tasks, focusing on "innovation from the core" in the strategy of business operations and management. Some strategic targets set by Petrovietnam include: striving to exceed the 12 targets of the Resolution of the Party Congress of the Group and the Resolution adjusting and supplementing the Resolution of the 3rd Party Congress of the Group, term 2020-2025; tasks, solutions of the Resolution and other targets in Plan 659-KH/DU dated October 7, 2024 of the Standing Committee of the Party Committee of the Group on organizing an emulation campaign to strive to complete and exceed the targets of the Resolution of the Party Congresses at all levels for the term 2020-2025. At the same time, successfully organize the Party Congresses at all levels and the 4th Congress of the Group's Party Committee for the 2025-2030 term, ensuring compliance with the plan and requirements set out; strive to achieve the highest results in the 2025 management plan targets of the Group and each unit. In particular, strive to achieve the 2025 target of "double-digit" growth.

This is the guideline for the Group to build a foundation for sustainable growth, meeting the requirements of national economic development and the goal of global energy transition.

Conference to summarize the work in 2024 and deploy tasks in 2025 of Petrovietnam

Accelerate strategic projects, exploit potentials, create growth momentum

Petrovietnam has clearly identified strategic projects as the key driving force to achieve the target of “double-digit” growth in 2025. The Group’s focus is to accelerate the progress of important projects in the fields of electricity, oil and gas and LNG (liquefied natural gas), ensuring that these projects are put into operation on schedule, contributing to generating revenue. LNG projects are given special attention, not only meeting domestic energy needs but also playing an important role in the export strategy, helping Petrovietnam to increase its integration into the global supply chain.

In addition, Petrovietnam continues to focus on the renewable energy sector, especially offshore wind power and new energy projects. This is not only an inevitable direction to meet the requirements of sustainable development but also opens up opportunities to exploit the great potential of the green energy industry. Solving difficulties in key projects, combined with restructuring the investment portfolio, has been creating the premise for the Group to improve operational efficiency and optimize resources.

Offshore wind power base construction site at PTSC port.

At the same time, the Group has increasingly applied advanced management solutions and science and technology to projects, aiming to optimize capacity, increase labor productivity and reduce costs. All these efforts not only help Petrovietnam maintain stability but also create breakthroughs, play a leading role in the national energy industry, and contribute to promoting the country's economic growth.

Petrovietnam also identified new driving forces in the energy sector, including: electricity, LNG, petroleum, offshore energy; along with that, speeding up the progress of putting new projects into operation, solving problems in difficult projects to create new revenue and cash flow. Improving productivity, capacity, and efficiency of oil and gas activities through digital transformation, innovation and science and technology; actively promoting business, international cooperation, and taking advantage of development opportunities. Promoting an effective culture, with the greatest driving force in Petrovietnam's governance being the human factor, identifying this as the basis for performing well in Party building and leading production and business tasks.

Building a culture of efficiency and innovation

To realize the above targets, Petrovietnam has deployed a series of key tasks and solutions. Accordingly, Petrovietnam pays special attention to Party building. The Group continues to focus on innovating leadership methods, improving the capacity of Party committees at all levels, strictly implementing regulations associated with the application of digital technology to modernize Party building work. This spirit is demonstrated through the organization of thoroughly implementing the Party's Resolutions; streamlining the organizational apparatus and effectively restructuring enterprises to create new driving forces, renewing old driving forces for the sustainable development of the Group. The preparation and successful organization of Party Congresses at all levels for the 2025-2030 term is also identified as an important opportunity to build a team of capable, courageous and prestigious personnel, ensuring the effective implementation of the Group's development strategy in the new period.

Oil and Gas workers work hard, are creative, and strive to successfully carry out political and production and business tasks (Illustration photo)

Along with Party building, Petrovietnam also aims to enhance corporate culture, raise the level, and deeply imbue Petrovietnam culture in association with promoting the study and following of Ho Chi Minh's ideology, morality, and style. This is not only the foundation for creating a professional working environment but also for performing well in social security work, demonstrating the Group's responsibility to the community.

In carrying out its political tasks, Petrovietnam focuses on perfecting mechanisms and policies for core areas such as oil and gas exploration and exploitation, gas industry, electricity industry and renewable energy. Accordingly, it will complete the development strategy to 2030, with a vision to 2050, ensuring the successful implementation of the goals approved by the Politburo in Conclusion 76-KL/TW dated April 24, 2024, Resolution 38/NQ-CP dated August 20, 2024 of the Government and the Group restructuring project approved by the Prime Minister.

At the same time, adjust strategies and production and business plans to compete with foreign companies with great potential both domestically and internationally; gradually shift to meet market demand and sustainable development regulations to create resources for the development of breakthrough fields such as the electricity industry and renewable energy/new energy.

LNG Thi Vai Port Warehouse

Regarding financial activities, the Group focuses on good cash flow management, optimizing capital use and building a modern management system, applying principles according to international financial standards. Investment activities are also promoted, with the goal of effectively managing the investment portfolio and recovering weak projects. Strategic areas such as renewable energy, science and technology, innovation and digital transformation in the Group continue to be prioritized, aiming to create breakthroughs in production and business, ensuring security and safety, protecting the environment, converting fuels, towards greening and sustainable growth.

To ensure success, Petrovietnam has developed a specific implementation plan with clear assignment of responsibilities to each level of leadership and affiliated units. All are aimed at the common goal: completing the set targets effectively, transparently and sustainably for the future of Petrovietnam and the country.

Corporate culture plays an important role in Petrovietnam's development strategy. With the goal of enhancing and deepening Petrovietnam's culture, the Group not only builds a professional working environment but also promotes social responsibility through social security programs, studying and following Ho Chi Minh's ideology, morality and style.

In addition, the spirit of innovation continues to be the main driving force, encouraging staff and workers to come up with initiatives and breakthrough solutions in management and production. This is not only a factor that creates a difference but also a foundation for Petrovietnam to maintain its position as an economic locomotive.

With a clear development strategy, Petrovietnam not only aims to successfully complete its tasks in 2025 but also aims to build a foundation for innovation and sustainable development. The Group is determined to affirm its position as an economic locomotive, actively contributing to the country's socio-economic development, especially in the context of a new era with many opportunities but also many challenges. 2025 will be a turning point, marking Petrovietnam's remarkable growth on the journey to conquer new heights, constantly innovating, creating and breaking through to reach further.

Chang'e

Source: https://www.pvn.vn/chuyen-muc/tap-doan/tin/6b957fc4-3de0-4187-9eea-97a545e4f412