Petrovietnam posts record revenue amid global volatility

Petrovietnam posts record revenue amid global volatility

By strengthening decentralisation while maintaining risk control, the group sustained stable and safe operations across its integrated value chain.

Petrovietnam recorded total revenue of more than VNĐ1.1 quadrillion (US$41.8 billion) in 2025, equivalent to roughly 9-10 per cent of Việt Nam's GDP, setting an unprecedented record for a Vietnamese enterprise despite persistent volatility in global energy markets.

According to a report from Petrovietnam, the results were achieved in a year marked by complex geopolitical developments, partial disruptions in global energy supply chains, uneven demand recovery and mounting pressure from green transition and sustainability requirements.

As of December 20, Petrovietnam reported consolidated revenue of around VNĐ649 trillion, up 11 per cent year-on-year, while total revenue across the group exceeded VNĐ1.1 quadrillion, representing growth of around 10 per cent compared with 2024.

Consolidated profit reached nearly VNĐ63 trillion, an increase of 13 per cent, while State budget contributions surpassed VNĐ165 trillion. 

Total investment capital deployed during the year rose sharply to more than VNĐ51 trillion, up 44 per cent from the previous year.

Throughout 2025, Petrovietnam adjusted its governance and operating scenarios in response to fluctuations in crude oil prices, gas and power markets, credit conditions, exchange rates and investment cash flows. 

By strengthening decentralisation while maintaining risk control, the group sustained stable and safe operations across its integrated value chain.

In upstream activities, Petrovietnam continued to manage declining output from mature oil and gas fields while optimising costs and ensuring environmental and safety standards. 

The early commissioning of major projects such as Đại Hùng Phase 3, Kình Ngư Trắng - Kình Ngư Trắng Nam and the BK-24 platform helped offset natural production decline and reinforced the group's role in securing primary energy supply for the economy.

Midstream and downstream operations also maintained high utilisation rates, with several facilities operating at or near record capacity. 

The Dung Quất and Nghi Sơn refineries, fertiliser plants including Phú Mỹ and Cà Mau, and major power assets such as the Thái Bình 2 Thermal Power Plant played a stabilising role in domestic markets, supporting production, consumption and economic growth. 

At the same time, the expansion of overseas business activities contributed to revenue diversification and enhanced international competitiveness.

Project execution was another key feature of the year, particularly for large-scale energy infrastructure. 

Petrovietnam continued to coordinate and remove bottlenecks in strategic projects such as the Lô B - Ô Môn gas-to-power chain and the Thị Vải LNG - Nhơn Trạch 3 and 4 projects, demonstrating its capacity to organise and implement complex energy developments with long-term significance for national energy security and energy transition.

The group also accelerated the application of digital technologies across management, operations, maintenance and data analytics, while promoting technical initiatives to improve efficiency and reduce costs. 

These efforts were accompanied by investment in innovation ecosystems and high-quality human resources to support long-term competitiveness.

From a broader economic perspective, Petrovietnam's 2025 performance carried implications beyond the group itself. 

Associate Professor Nguyễn Thường Lạng, an economic expert, said that during its 50-year development journey, Petrovietnam has consistently acted as a stabilising pillar for the economy, with 2025 serving as a clear example. 

"Maintaining production, ensuring energy security and sustaining substantial budget contributions amid global energy turbulence demonstrate the group's governance capacity and resilience," he said.

From a financial standpoint, banking and finance expert Châu Đình Linh said that Petrovietnam remains among a limited number of large State-owned enterprises capable of balancing long-term investment requirements with short-term financial discipline. 

Linh said: "Not every enterprise can simultaneously deploy large-scale energy projects, manage financial risks and maintain operational efficiency.

"Petrovietnam has been able to do so thanks to relatively tight financial governance and its unique role in the economic system."

In recognition of its performance, Petrovietnam was named the leading enterprise in the Top Ten Strong Vietnamese Brands by the Vietnam New Economy Forum 2025, while the parent company and seven subsidiaries were ranked among the Top Ten Value-Creating Enterprises in the energy and oil and gas sector.

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