Petrovietnam: New milestone - New vision for sustainable development

Politburo Conclusion 76-KL/TW dated April 24, 2024 on the implementation of Resolution 41 regarding the strategic development orientation for Vietnam’s oil and gas sector emphasized leveraging the sector’s advantages to advance renewable and new energy industries, such as offshore wind power for export, hydrogen and ammonia production projects. It also outlined the development direction of transforming Vietnam Oil and Gas Group into the Vietnam National Industry - Energy Group.

On behalf of the Prime Minister, Deputy PM Bui Thanh Son (first right) hands over the decision to rename the Vietnam Oil and Gas Group to the Vietnam National Industry – Energy Group

Recently, aligning with the global energy transition trend and to build a new image that reflects its commitment to energy transformation, Petrovietnam marked a historic moment at its 2024 year-end review and 2025 planning conference. Prime Minister Pham Minh Chinh, along with Government leaders and representatives from ministries and sectors, officiated the renaming of Vietnam Oil and Gas Group to the Vietnam National Industry - Energy Group (Petrovietnam).

Petrovietnam has promptly began formulating a new development strategy, studying the design of a new brand identity, and completing related legal procedures to officially operate under its new designation. The Group has identified its strategic development around three pillars: Energy – Industry – Services, with Energy being the core foundation.

On April 9, 2025, the Prime Minister officially approved the name change from Vietnam Oil and Gas Group to the Vietnam National Industry – Energy Group (Petrovietnam). This new designation affirms that Petrovietnam is not only a traditional oil and gas and energy enterprise, but also a national hub for industry and services, and a pillar of Vietnam’s energy sector, carrying the mission of sustainable development, technological innovation, and ensuring national energy security. Moreover, the renaming aligns the Group’s structure and operations with the Politburo’s strategic orientation, the global energy transition trend, and Vietnam’s Net Zero commitment by 2050.

Government leaders and ministry representatives congratulate Petrovietnam’s leaders

On behalf of the Prime Minister, Deputy Prime Minister and Minister of Foreign Affairs Bui Thanh Son congratulated Petrovietnam on this special milestone coinciding with its 50th anniversary. He emphasized that this transformation is not merely a change in name, but a reflection of Petrovietnam’s continued growth and strategic direction, expanding its operational scope and elevating its role and stature not only in traditional energy, but also in industrial development and new energy sectors. He expressed confidence that Petrovietnam would successfully take on this new responsibility, accompanying the country’s development path.

This transformation marks a significant milestone for Petrovietnam after 50 years of construction and development, and 64 years of Vietnam’s oil and gas tradition. It also demonstrates the Group’s strong commitment and determination in reshaping its development strategy and operational model, reinforcing its role as a leading, foundational, and driving force among state-owned enterprises in the industrial and energy sectors.

In its new development direction, Petrovietnam will focus on three strategic pillars: Energy – Industry – Services

The new name not only reflects a new mission and vision, but also underscores Petrovietnam’s pioneering commitment to technological innovation, sustainable development, national energy security, and integration into the global energy value chain.