PVN continuously sets new records
In recent years, in order to meet the new requirements of the energy transition trend, as well as the economic context, the National Energy Industry Group (Petrovietnam - PVN) has proactively made strong changes to overcome challenges, constantly setting new records in production and business, thereby consolidating internal strength, creating a solid foundation as a driving force for development in the current new period.
According to PVN General Director Le Ngoc Son, in 2024, the Group has fully completed key targets in all areas of operation such as petroleum, electricity, and fertilizer production; ensuring security and production safety at all units is smooth.
As a result, all production targets were completed and exceeded the annual plan by 6-24%, reaching the target from 22 days to 2 months and 21 days ahead of schedule. Notably, the domestic crude oil exploitation target completed the annual plan 2 months and 3 days ahead of schedule. Compared to 2023, there were 4 key production targets that increased, including urea production by 4.6%; electricity production by 25.8%; gasoline production by 6.7% and NPK production by 19.5%.
For the first time in 10 years, PVN has had 3 new oil and gas discoveries in one year. Petrovietnam is also a pioneer in the offshore energy industry, participating in the global energy chain.
First export of offshore energy service industrial products, marking a new step forward in the traditional and renewable energy sectors.
“2024 is the third consecutive year that PVN breaks the total revenue record of the Group when it exceeds the 1 million billion VND mark, exceeding the annual plan by 36%, up 6% compared to 2023, growing 36% compared to the period before the COVID-19 pandemic and equivalent to about 9% of the country's total GDP; paying the budget 165,000 billion VND (equivalent to nearly 9% of the total national budget revenue), exceeding 75% of the annual plan" - Mr. Le Ngoc Son affirmed.
Trust in assigning PVN to build nuclear power
To meet national energy needs, Vietnam restarted the Ninh Thuan nuclear power project, including 2 plants, expected to complete investment within 5 years.
At the meeting of the Steering Committee for the construction of the Nuclear Power Plant on February 4, Politburo member and Prime Minister Pham Minh Chinh assigned the National Energy Industry Group (PVN) to be the investor of the Ninh Thuan 2 nuclear plant.
Dr. Vo Tri Thanh - former Deputy Director of the Central Institute for Economic Management - commented that the Prime Minister's assignment to PVN to develop a nuclear power plant will have certain advantages, because we have previously built, planned, and conducted a pre-feasibility study for the project.
Sharing the same view, Dr. Ngo Tuan Kiet - Director of the Institute of Energy Technology - said that all units have experience in implementing large projects, this will be an advantage to complete the goals and targets assigned by the Prime Minister.
Assessing the expectations for the completion of assigned projects, Dr. of Economics Nguyen Minh Phong placed expectations on the investors selected by the Prime Minister.
“In fact, this is a calculation with many considerations, multi-dimensional, taking into account many goals. One of the most important goals is security. Letting foreign enterprises do it is not safe, it easily creates comparisons…” – Dr. Nguyen Minh Phong said.
According to this expert, the selected investors are very good units. They have considered and calculated for the future, so the ability to meet the requirements is very high.
Previously, at the meeting of the Steering Committee for the construction of nuclear power plants, Chairman of the Board of Directors of PVN Le Manh Hung said that to ensure the country's great goal of rapid and sustainable energy development in the coming time, with its experience, capabilities and resources, PVN is ready to participate in the implementation of nuclear power projects.
However, Chairman of the Board of Directors of PVN Le Manh Hung also emphasized that this is a new field for the Group and to carry out this task, the Party and Government need to have a system of specific mechanisms and policies to create favorable conditions for Petrovietnam in implementing the project.
