Petrovietnam appoints new CEO amid global expansion drive

Petrovietnam appoints new CEO amid global expansion drive

Industry observers said the appointment reflects Petrovietnam’s strategic focus on green energy transition and international expansion in the coming decade.

Minister of Finance Ngô Văn Tuấn (left) and chairman of Vietnam National Industry - Energy Group (Petrovietnam) Lê Ngọc Sơn (right) present the appointment decision to newly appointed Petrovietnam CEO Lê Mạnh Cường at a ceremony in Hà Nội on Wednesday. — Photo baochinhphu.vn

Vietnam National Industry - Energy Group (Petrovietnam) has appointed Lê Mạnh Cường as a member of the board of directors and chief executive officer, marking a leadership reshuffle as the State-owned energy group advances its restructuring and international expansion plans.

The appointment was announced on Wednesday as Petrovietnam targets sustained double-digit growth and aims to become the first Vietnamese company to enter the Fortune Global 500 ranking by 2030.

Congratulating the group on completing its senior leadership structure, Minister of Finance Ngô Văn Tuấn described Cường as a capable and experienced executive who has held multiple leadership positions within the group.

Petrovietnam chairman Lê Ngọc Sơn said the appointment of a new chief executive officer was particularly important as the role directly oversees production and business operations and supports smooth governance and long-term development goals.

Speaking after taking office, Cường pledged to promote innovation, digital transformation and science and technology development across the group’s workforce of more than 60,000 employees.

He said Petrovietnam would continue to play a central role in ensuring national energy security while creating new growth drivers for the economy during the country’s transition period.

Born in Hà Tĩnh Province in 1974, Cường has nearly 30 years of experience in the oil and gas sector.

He began his career in 1995, working directly on offshore exploration and production operations before moving into management positions at PetroVietnam Technical Services Corporation (PTSC).

He served as PTSC’s chief executive officer from May 2018 to September 2024, overseeing the company’s expansion in core oil and gas technical services and its entry into international markets, including Singapore and Malaysia.

Under his leadership, PTSC became one of Việt Nam’s pioneers in offshore wind power services and developed supply chains serving leading global offshore wind investors.

Cường was appointed deputy chief executive officer of Petrovietnam in October 2024, taking charge of key areas including exploration and production, renewable energy, new energy projects and the strategic Ninh Thuận 2 nuclear power project.

Industry observers said the appointment reflects Petrovietnam’s strategic focus on green energy transition and international expansion in the coming decade. 

Bizhub