Building Petro Vietnam into a national energy industry group

After 7 years of implementing Resolution No. 41 of the Politburo on Petro Vietnam's development strategy, a number of groups of issues have been resolved, including resolving challenges, difficulties and taking advantage of opportunities through focusing resources; identifying and locating core issues; actively innovating business models, identifying new products and key products of the group; focusing on improving operations and creating competitiveness in the following years; actively promoting and effectively performing the role of the country's economic locomotive; actively coordinating with the Ministry of National Defense and relevant ministries and branches to participate in protecting national sovereignty and borders.

During that period, Petro Vietnam encountered many difficulties in implementing the tasks of Resolution 41, such as having to cope with two periods of declining oil prices; the situation in the East Sea had many complex fluctuations; mechanisms and policies related to the oil and gas industry still had many shortcomings; oil and gas reserves and potential were not as expected; the handover of some weak projects from other units caused difficulties for Petro Vietnam in management and resource allocation...

Mr. Le Manh Hung - General Director of Petro Vietnam spoke at the conference.

Overcoming those difficulties, Petro Vietnam successfully carried out the tasks assigned by the Party and the State, identifying the goals and core values to build and develop the Vietnam National Oil and Gas Group in the future.

“ Building and developing the Vietnam National Oil and Gas Group into a leading energy industry group in the country and region; having a core position and role in ensuring national energy security - that is the orientation and goal in the coming time of Petro Vietnam ”, General Director of Petro Vietnam Le Manh Hung emphasized.

To achieve that goal, General Director Le Manh Hung proposed 8 groups of solutions for the entire group to implement: good human resource management; focusing on promoting the synchronous completion of institutions and mechanisms; developing corporate governance; actively transforming digitally; promoting science and technology; focusing on expanding and integrating in market expansion and increasing market share for key products; focusing on optimizing investment and finance and promoting the building of corporate culture.

Mr. Le Ngoc Son - Deputy General Director of Petro Vietnam presented the changes of the Petroleum Law 2022.

At the conference, Petro Vietnam Deputy General Director Le Ngoc Son presented a topic on new points of the 2022 Petroleum Law and Decree No. 45/2023/ND-CP; assessed the impact of these changes on the Group's operations; and oriented the amendment, supplementation and promulgation of the Group's internal regulations.

The promulgation of the Petroleum Law 2022 and Decree 45 forms a completely new legal framework for petroleum activities in the upstream sector after 30 years of implementing petroleum activities under the provisions of the Petroleum Law first issued in 1993.

Mr. Duong Manh Son - Deputy General Director of Petro Vietnam presented on the production and business activities of Petro Vietnam in recent times.

Petro Vietnam Deputy General Director Duong Manh Son also presented the group's production and business situation in the past time. Specifically, although the world and domestic economic situation is extremely difficult, the energy market has decreased sharply compared to the same period and the trend of each month is decreasing compared to the previous months, but thanks to the determination and efficiency in management and operation, Petro Vietnam has maintained safe and stable production and business activities, achieved high results, and grown over the months, making important contributions to the economy, supporting the country's GDP growth, as well as contributing to ensuring national energy security.

Mr. Pham Xuan Canh - Permanent Deputy Secretary, Member of the Board of Directors of Petro Vietnam spoke at the conference.

Standing Deputy Secretary of the Party Committee, Member of the Board of Directors of Petro Vietnam Pham Xuan Canh disseminated and thoroughly implemented new regulations of the Party, state laws and Petro Vietnam on personnel work and representative management.

Representatives of professional departments and leaders of units presented papers at the conference.

Petro Vietnam's professional boards and member units also presented many papers on mechanisms and policies for the Group's representatives at the unit; renewable energy development policies; projects to upgrade and expand existing oil refineries, gasoline and crude oil storage facilities; digital transformation in production and business at the unit, etc.

Mr. Ho Sy Hung - Vice Chairman of the State Capital Management Committee at Enterprises gave a speech at the conference.

Directing at the conference, Vice Chairman of the State Capital Management Committee at Enterprises Ho Sy Hung highly appreciated Petro Vietnam for its ability to overcome difficulties, its economic and budgetary contributions to the country and ensuring national energy security; affirming its role as one of the largest and most important economic groups for the country.

Vice Chairman of the State Capital Management Committee at Enterprises Ho Sy Hung noted that in the coming time, Petro Vietnam needs to focus highly on investing in large projects and renewable energy development strategies.

Mr. Hoang Quoc Vuong - Party Secretary, Chairman of the Board of Directors of Petro Vietnam delivered a concluding speech at the conference.

Concluding the Conference, Party Secretary, Chairman of the Board of Directors of Petro Vietnam Hoang Quoc Vuong shared that in the coming time, Petro Vietnam needs to improve the management and operation capacity of the management staff and representatives of the group at the units, accompanying the team of Representatives to bring optimal efficiency to the unit and the State; at the same time, strengthen relationships, exchange experiences, learn from each other, continue to overcome difficulties and challenges and achieve better and more sustainable results, bringing the unit to greater success in the journey ahead.

Bao Anh

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