Petrovietnam asserts role as pillar with ambition to reach Fortune 500

Petrovietnam asserts role as pillar with ambition to reach Fortune 500

Petrovietnam has affirmed its position as the pillar of national energy with outstanding achievements, while setting the ambitious target of entering the Fortune 500 by 2030.

Lê Mạnh Hùng, Chairman of the Members’ Council of Petrovietnam, speaks at the conference. — Photo courtesy of Petrovietnam

At the conference '80 years of enterprises accompanying the nation' chaired by Prime Minister Phạm Minh Chính in late August, Lê Mạnh Hùng, Chairman of the Members’ Council of Vietnam National Industry-Energy Group (Petrovietnam), shared the group’s 50-year journey of development alongside the country with the mission of ensuring energy security and building a national energy foundation.

Hùng emphasised that Petrovietnam has consistently pursued its 'Five Ensures,' comprising energy security, economic security, food security, national defence and sovereignty over seas and islands, and social security.

From this foundation, the group has achieved 'Five Highests' — the largest enterprise, the biggest contributor to the state budget, the highest profit, the most scientific and technological achievements, and the greatest contribution to social welfare.

Petrovietnam is currently the largest enterprise in Việt Nam and ranks 11th in Southeast Asia, with total assets exceeding VNĐ1 quadrillion (US$37.9 billion), equity of more than VNĐ540 trillion, and accumulated revenue of $599 billion.

It is also the biggest contributor to the state budget, with contributions of about $142 billion to date, averaging more than VNĐ160 trillion annually in recent years. In 2024, the group recorded profits of over VNĐ55 trillion, maintaining its leading position for many years.

Alongside financial results, Petrovietnam is the enterprise with the most scientific and technological awards, including six Hồ Chí Minh Awards, four State Awards, 46 Vifotec/WIPO awards, and four international patents. It is also among the leaders in social welfare, with contributions exceeding VNĐ5.1 trillion during 2020-2025.

Amidst the global energy transition, Petrovietnam has repositioned itself as a national industrial–energy group with three strategic pillars: energy, industry, and advanced technical services. Its long-term goal is to enter the Fortune 500 list by 2030, underpinned by six strategic solution groups and a sustainable development framework.

“We hope to continue receiving the attention and guidance of the Party, the State, and the Government, along with the companionship of the business community and financial institutions at home and abroad, to preserve our legacy and create Việt Nam’s energy future,” Hùng affirmed. 

Bizhub