PetroVietnam thanks partners at Partnership Meeting 2020

The group's top leader Le Manh Hung expressed gratitude to the parners at PetroVietnam Partnership Meeting 2020 held recently in Ho Chi Minh City, featuring many of the group's contractors, operators, and foreign partners.

The conference was also attended by representatives of ministries, central branches; PetroVietnam’s leaders including president and CEO Le Manh Hung, member of the Board of Directors Phan Ngoc Trung, vice president Nguyen Quoc Thap, vice president Le Xuan Huyen; and representatives of the Administration Office and associated divisions; as well as leaders from member units.

PetroVietnam Partnership Meeting 2020 gave a thorough account of the group's activities in 2019

On the occasion, Hung also reported the group’s major production and business results in 2019 and tasks for the coming year.

PetroVietnam president and CEO Le Manh Hung addressing the event

In recent years, PetroVietnam has been gradually expanding co-operation with partners from around the world, such as the Russian Federation, the US, Japan, South Korea, besides partners in the ASEAN and the Middle East.

Especially in 2020, Vietnam and the Russian Federation will be organising diverse activities for the Vietnam Year in Russia and the Russian Year in Vietnam to mark the 25^th in-principle signature of the Treaty on Vietnam-Russia friendship and 70 years of establishing bilateral diplomatic relations.

Last year, the increase in oil and gas reserves reached 13.38 million tonnes of oil equivalents; total oil and gas production reached 23.29 million tonnes of oil equivalents; electricity production reached 22.54 billion kWh; fertiliser production reached 1,577 million tonnes; petrol and oil production reached 11.50 million tonnes; the revenue of the entire group was VND736.2 trillion ($32 billion), the group’s contribution to the state budget was VND108 trillion ($4.7 billion).

Furthermore, all member units of the group have achieved, some even outperformed, the set targets. Some units had fulfilled business targets from one to two months ahead of schedule.

In the past year, PetroVietnam achieved the independent credit rating by Fitch Ratings of BB+, reflecting that the group’s goal of innovating and improving financial management and business activities is timely, practical, and effective.

PetroVietnam has also maintained its position in the top 500 of Vietnam's most profitable enterprises in 2019 by Vietnam Report JSC. In addition, many units consistently rank high in the awards tally, winning praises for production capacity, executive management, creativity, and environmental protection.

PetroVietnam leaders congratulate and award medals to contractors, partners, and units producing outstanding achievements in 2019

On the occasion, PetroVietnam presented flowers and medals to many contractors, operators, oil and gas partners, and member units with outstanding achievements in operating and managing oil and gas activities in 2019.