Vietnam’s national oil and gas group, Petrovietnam, has released a report detailing its performance over the first nine months of 2025.
Despite facing numerous challenges, including U.S. countervailing duties, complex geopolitical dynamics, climate change impacts, natural disasters, and a sharp decline in crude oil prices, Petrovietnam has demonstrated resilience with positive production and business results.
In the first nine months of 2025, most production targets exceeded expectations by 5% to 23%. Crude oil extraction reached 7.37 million tons, surpassing the nine-month plan by 20%. Electricity production hit 23.92 billion kWh, a 15% increase year-on-year.
Petroleum product output totaled 12.3 million tons (including NSRP), exceeding the plan by 12%. Excluding NSRP, production was 5.83 million tons, 15% above the plan and 19% higher than the same period in 2024. Urea production remained strong at 1.4 million tons, while NPK production surged by 52% year-on-year.
In addition to optimizing operations at its refineries, fertilizer plants, and power facilities, Petrovietnam has actively expanded its market share and distribution networks for petroleum products, including LPG and LNG, and enhanced its oil and gas services both domestically and internationally.
Energy remains the core pillar of Petrovietnam.
Notably, in the first nine months, revenue from new products developed through scientific research and innovation reached an estimated 6.1 trillion VND, while international business revenue totaled 94.7 trillion VND.
As a result, despite a challenging market environment, all financial targets for September and the first nine months of 2025 were exceeded, showing growth compared to the same period in 2024. Specifically, in September, consolidated revenue, tax contributions, and pre-tax profit increased by 3% to 25% year-on-year.
For the nine-month period, total group revenue reached 795 trillion VND, completing 98% of the annual plan and increasing by 7% year-on-year. Tax contributions to the state budget were 109 trillion VND. Consolidated revenue stood at 484 trillion VND, a 10% increase compared to the same period in 2024.
Ca Mau Gas-Power-Fertilizer Complex.
Petrovietnam is Vietnam’s sole non-banking enterprise with a 1 million billion VND valuation. Over its 50-year history, Petrovietnam has evolved from five core sectors to three main pillars: energy as the core, industry as the foundation, and technical services as the spearhead.
Petrovietnam has established a comprehensive, synchronized, and modern oil and gas industry with strategic energy infrastructure. It has successfully launched key national and international projects, including Bach Ho, Bien Dong, Cuu Long; Phu My and Ca Mau Gas-Power-Fertilizer complexes; Dung Quat and Nghi Son refineries; Vung Ang thermal power plant; and projects in Russia and Algeria.
According to Petrovietnam’s Chairman, Le Manh Hung, the group has mastered most core technologies in the oil and gas value chain, meeting global standards. These include exploration, extraction, gas processing, petrochemical refining, chemical synthesis for ammonia and urea production, polymer materials, gas turbine and steam turbine power generation. Petrovietnam has also contributed to global oil and gas science with innovations like oil extraction from basement rock, self-elevating drilling rig construction, and graphene synthesis.
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