Vietnamese-Made Technology Empowers Local Businesses with Autonomous Innovation and Exclusive Services

PetroVietnam Chemical & Services Corporation (PVChem, stock code PVC) has released its 10-month business report for 2025.

According to PVChem’s report, as of October 2025,

the company’s consolidated revenue reached VND 3,916 billion, surpassing the annual plan by 40% and marking a 78% increase compared to the same period in 2024.


Consolidated pre-tax profit stood at VND 48.23 billion, exceeding the plan by 10%.

PVChem

forecasts full-year 2025 consolidated revenue of VND 4,200 billion and pre-tax profit of VND 49 billion,

respectively surpassing the plan by 50% and 11%.

This represents the highest growth rate in the past five years for PVChem.

Within PVChem’s revenue structure, the trading segment remained the core contributor, accounting for 70.7% of total revenue at VND 2,769 billion. This achievement stems from expanded commercial activities, particularly in plastics, metals, and bioethanol.

The technical and industrial services segment generated over VND 1,070 billion, a 36% increase over the plan; drilling fluid services alone saw an impressive 51% plan exceedance.

In production, PVChem recorded an output of 15,292 tons, surpassing the plan by 30%, and achieved VND 76.7 billion in revenue, an 85% year-on-year increase.

Notably,

PVChem successfully piloted the Pro-Dril water-based drilling fluid system at Vietsovpetro’s 2205/BK-22 well.

According to PVChem, this system not only succeeded in industrial-scale testing but also received trademark protection from the Intellectual Property Office for the Pro-Dril brand and all related chemical components. Additionally, the PV-HYDrill synthetic oil-based drilling fluid system is being prepared for industrial-scale testing, targeting commercialization.

This successful pilot marks a significant milestone in enhancing PVChem’s localization of oil and gas technical services.

It also opens the door to technological autonomy and exclusive domestic service provision.

Furthermore, it reduces import dependency and progressively establishes PVChem as a leading provider of specialized chemical and drilling services in the industry.

Beyond production and business activities, in the first 10 months of 2025, PVChem also made its mark through strategic investment projects, laying the foundation for long-term growth.

Highlights include the Industrial Gas Production Plant project in Cai Mep (in partnership with Messer), leveraging cold energy from the Thi Vai LNG terminal to produce industrial gas—a solution enhancing energy efficiency and reducing CO₂ emissions, aligned with sustainable development goals.

Additionally, the recycled PET chip (rPET) production project is underway, embracing the circular economy trend and contributing to carbon emission reduction in the production chain. Simultaneously, the fly ash, slag, and gypsum treatment project at Thai Binh 2 Thermal Power Plant aims for a “zero industrial waste” model.

On November 24, 2025, PVChem will hold an Extraordinary Shareholders’ Meeting to seek approval for additional business lines, creating significant opportunities for PVChem to capitalize on trends and fulfill its production and business development goals. This will contribute to revenue growth, ensure employment, and benefit shareholders.