HCMC – The Government has decided to rename Vietnam Oil and Gas Group as Vietnam National Industry – Energy Group.
Deputy Prime Minister Ho Duc Phoc signed Decision No. 733/QD-TTg on April 9, 2025, approving the renaming of the state-owned corporation. The decision took effect on the same day.
The short name of Vietnam National Industry – Energy Group is Petrovietnam (PVN).
The company continues to operate as a one-member limited liability company, and inherits all rights, obligations, and responsibilities of the former Vietnam Oil and Gas Group under the 2022 Petroleum Law and current legal documents.
In 2024, Petrovietnam fully met all major targets across its core operations, including petroleum production, electricity generation, and fertilizer manufacturing. All of the group’s financial targets were exceeded, ranging from 34% to 3.4 times over the yearly plan, with many completed three to seven months early, and showing strong growth compared to 2023.
Its total consolidated revenue exceeded VND1 quadrillion, a 36% increase over pre-Covid levels (2019) and accounting for approximately 9% of the country’s GDP.
