Vietnam Oil and Gas Group changed its name to Vietnam National Industry and Energy Group

Image of the inauguration ceremony of the new name of the National Energy Industry Group.

The decision clearly states: Agree to change the name of Vietnam Oil and Gas Group according to the Group's proposal, specifically as follows:

Full name: Vietnam National Industry and Energy Group.

Business type: Single member limited liability company.

Trading name: Vietnam National Industry and Energy Group.

International transaction name: Vietnam National Industry - Energy Group.

Abbreviation: PETROVIETNAM , abbreviated as PVN.

Vietnam National Oil and Gas Group (Petrovietnam) inherits all rights, obligations and responsibilities of Vietnam Oil and Gas Group as prescribed in the 2022 Petroleum Law and current legal documents; Agreements, documents, agreements and Contracts signed with relevant parties as prescribed by law.

The above Decision takes effect from April 9, 2025.

* In 2024, Petrovietnam has fully completed key targets in all areas of operation such as petroleum production, electricity production, and fertilizer production. In particular, the domestic crude oil exploitation target has completed the 2024 plan 2 months and 3 days ahead of schedule.

All financial targets of the Group have exceeded the annual plan by 34% to 3.4 times, reaching the target 3 to 7 months ahead of schedule and growing strongly compared to 2023. 2024 marks the 3rd consecutive year that Petrovietnam has broken the record for the Group's total revenue when it surpassed the 1 million billion VND mark, a 36% increase compared to the pre-COVID-19 period (2019) and equivalent to about 9% of the country's total GDP. State budget contribution reached 165,000 billion VND, equivalent to nearly 9% of the country's total budget revenue, a 52% increase compared to the pre-COVID-19 period.

Financial indicators grew very high compared to the pre-COVID-19 period (2019), including consolidated revenue of VND601,000 billion, up 51%; parent company revenue of VND270,000 billion, up 237%; parent company pre-tax profit of VND35,100 billion, up 45%. Petrovietnam's consolidated profit continued to reach over USD2.3 billion/year.

With this result, the Group has comprehensively exceeded all financial targets according to the 5-year plan approved by the Prime Minister after only 4 years 2021-2024. In particular, the total revenue of the Group reached 3.5 million billion VND, exceeding 6% of the 5-year plan, achieving a growth rate of 16.7%/year; the total State budget contribution of the Group reached 600,000 billion VND, exceeding 30% of the 5-year plan, growing by 21.2%/year.

These impressive achievements have helped Petrovietnam be honored in the leading position in the Top 10 Strong Vietnamese Brands 2024; at the same time, for the 6th time, it was honored as the leading enterprise in the Top 500 Most Profitable Enterprises in Vietnam; firmly in the Top 3 Largest Enterprises in Vietnam in 2024.

In 2025, the consistent goals and viewpoints identified by the leadership and employees of Petrovietnam are: "Petrovietnam - National Energy Industry Group: Innovation from the core - Developing outstanding models - Integrating into global chains - Enhancing energy knowledge - Breakthrough in growth - Creating a sustainable green shift".

Source: https://baochinhphu.vn/tap-doan-dau-khi-viet-nam-doi-ten-thanh-tap-doan-cong-nghiep-nang-luong-quoc-gia-viet-nam-102250409103103762.htm