From the beginning of 2024, Petrovietnam identified this as a key year, requiring acceleration and breakthrough to successfully implement the goals, tasks and targets of the 5-year plan 2021-2025.
In addition, the Group also faces unpredictable fluctuations/impacts affecting the Group's entire production and business activities such as: Large fluctuations in supply - demand and sharp decline in prices of energy products compared to the same period in 2023.
In that context, Petrovietnam has proposed the motto of action "Managing fluctuations - Adding new motivation - Renewing old motivation - Creating new energy sources - Reaching new heights".
This has created strong pressure on all production sectors/fields of the Group, so that the staff, workers and laborers devote themselves to and innovate themselves, from individuals to the collective, to "confront" and "compete" with new growth milestones.
By the end of 2024, Petrovietnam had fully completed key targets in all areas of operation such as petroleum production, electricity production, and fertilizer production, which grew quite well compared to the same period in 2023; ensuring security and production safety at all units/projects/factories/drilling rigs was smooth.
Accordingly, all other important production targets were completed and exceeded the annual plan by 6-24%. In particular, the domestic crude oil exploitation target completed the 2024 full-year plan 2 months and 3 days ahead of schedule.
Compared to 2023, there are 4 key production growth indicators including: urea production increased by 4.6%; electricity production increased by 25.8%; gasoline production (including NSRP) increased by 6.7% and NPK production increased by 19.5%. For the first time in 10 years, Petrovietnam had 3 new oil and gas discoveries in 1 year.
Petorvietnam is also a pioneer in the offshore energy industry, participating in the global energy chain, opening up new development space in line with the policies of the Party and State and the orientation of Conclusion 76-KL/TW when exporting offshore energy service industry products for the first time.
More specifically, Petrovietnam has broken the record for the third consecutive year in terms of total revenue of the Group when it surpassed the 1 quadrillion VND mark, a 36% growth compared to the pre-COVID-19 period (2019) and equivalent to about 9% of the country's total GDP.
State budget contribution reached VND 165,000 billion, equivalent to nearly 9% of the country's total budget revenue, up 52% compared to the pre-COVID-19 period amid the impact of Petrovietnam's tax reduction policy on petroleum products.
The excellent implementation and completion of production and business tasks in 2024 has contributed to helping Petrovietnam complete the 5-year production and business plan for the period 2021-2025 ahead of schedule, exceeding by 6-32%.
Of which, Petrovietnam's total revenue after 4 years has reached over 3.5 million billion VND, achieving a growth rate of 16.7%/year; the Group's total contribution to the State budget after 4 years has reached over 599,000 billion VND, a growth rate of 21.2%/year; Petrovietnam's consolidated pre-tax profit has reached over 238,000 billion VND after 4 years, a growth rate of over 44.3%/year.
Also in 2024, Petrovietnam also set a record of 16 consecutive years in the Top 3 largest enterprises in Vietnam, leading the Top 6 most profitable enterprises in Vietnam.
This result affirms that Petrovietnam continues to be a pillar economic group, a locomotive, contributing significantly to ensuring the "5 words An": Energy security, Food security, Economic security, National defense security and Social security.
