Petrovietnam disburses over $942 million in investment in 7 months

Petrovietnam disburses over $942 million in investment in 7 months

Petrovietnam will step up the development of new products and the expansion of international markets to reduce reliance on the domestic market.

Long Phú 1 thermal power plant project is underway at an accelerated pace. —Photo courtesy of Petrovietnam

The Vietnam National Industry - Energy Group (Petrovietnam) disbursed an estimated VNĐ24.7 trillion (about US$942 million) in investment during the first seven months of 2025, up 49 per cent year-on-year.

The group also exceeded several internal targets by 1-10 per cent during the period, including overseas crude oil output, petroleum production (excluding output from Nghi Sơn Refinery), urea and NPK fertilisers, and LPG. Electricity output increased by 9.8 per cent, petroleum (excluding Nghi Sơn output) rose by 23.4 per cent, NPK fertilisers surged by 53.8 per cent, and polypropylene output jumped by 34.6 per cent year-on-year.

Positive performance was also seen in service operations. Petrovietnam Shipbuilding and Mechanical Co Ltd (PVSM) reported a 22 per cent rise in new contracts, while revenues from the construction of oil, gas, and renewable energy projects grew by 88 per cent.

Surpassing most business and production targets, Petrovietnam posted estimated consolidated revenue of VNĐ602.1 trillion and contributed about VNĐ83 trillion to the State budget in the reviewed period.

A key highlight was the group’s revenue diversification. It earned VNĐ5.2 trillion from new products driven by science, technology, and innovation, and VNĐ67.4 trillion from international business operations, demonstrating its efforts to adapt to the global energy transition and diversify markets.

Amid global market volatility, Petrovietnam has launched several initiatives to support sustainable production and business.

On July 14, the Kình Ngư Trắng – Kình Ngư Trắng Nam (White Whale – White Whale South) oil field began producing ahead of schedule, contributing to national energy security and boosting output.

Regarding international collaboration, the group expanded cooperation with Brazilian energy companies during Prime Minister Phạm Minh Chính’s trip to attend the 17th BRICS Summit.

Domestically, it signed a comprehensive agreement with the Hà Tĩnh provincial People’s Committee to boost local development and partnered with Vietnam National Textile and Garment Group (VINATEX) to strengthen linkages in the chemical and textile sectors.

To meet its 2025 targets, Petrovietnam is accelerating key tasks, particularly in production and investment. It is currently operating 12 rigs, including four exploration wells, aimed at increasing reserves and output. Investment portfolios are being reviewed and advanced to meet objectives, while problematic projects are being closely monitored through standardised management systems.

Petrovietnam Chairman Lê Mạnh Hùng stressed that in the remaining months of 2025, the group would focus on establishing national energy industrial centres, aiming to sustain growth and maximise profits. It was closely tracking domestic and global developments, assessing risks, and identifying new growth drivers. 

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