PVOIL Aims for 150 Trillion VND in Revenue by 2025

On January 14, 2025, in Ho Chi Minh City, the Vietnam Oil Corporation (PVOIL) held its business plan conference for 2025. Several strategies were discussed and agreed upon, highlighting PVOIL's commitment to achieving its revenue target of 150 trillion VND this year.

Mr. Cao Hoai Duong – Party Secretary, Chairman of PVOIL's Board of Directors, and Mr. Nguyen Dang Trinh – Deputy Party Secretary, CEO of PVOIL, chaired the conference, with the participation of the entire leadership team, key officials of the corporation, and its affiliated units and subsidiaries.

The Vietnam Oil Corporation has identified 2025 as a year of great significance, marking the final year of implementing the resolutions of the 2020-2025 term of the corporation’s Party Congress and the 5-year plan for 2021-2025. Based on the assigned plan and the expectations of Petrovietnam, PVOIL has proactively developed a business plan that exceeds the set target, with a particular focus on breakthrough revenue goals, aiming for 150 trillion VND in revenue in 2025, a 15% increase compared to the record set in 2024.

This is a highly challenging task, given the difficult conditions in the petroleum industry in 2024 (with fluctuating fuel prices, a sharp rise in exchange rates, and high levels sustained). Forecasts suggest that these difficulties and fluctuations are likely to continue into 2025.

Given the current situation, PVOIL will focus on implementing management methods such as managing volatility, managing the value chain, managing the ecosystem, and digital-based management. The company will embrace the motto of “renewing traditional drivers while adding new ones,” and is prepared to adapt its business model to align with the current strong trends of digital transformation and energy transition.

Leaders from various departments and units of PVOIL presented reports and discussed solutions to achieve the 2025 plan, focusing on strategies in business operations, investment, and international business to drive growth for PVOIL. Specific solutions include ensuring a stable supply of goods, further expanding gas station development, broadening the market, improving the business efficiency of existing stations, enhancing the implementation of non-fuel services at gas stations, inventory management, and developing new product lines.

At the conference, PVOIL's Chairman of the Board, Cao Hoai Duong, emphasized that the leadership of the Vietnam Oil and Gas Group has set high expectations for PVOIL. The goal for 2025 is for PVOIL to continue being the revenue center of the Group, growing compared to the previous year and setting a new record. Therefore, in addition to business solutions and gas station development, special focus must be placed on infrastructure development projects to implement Jet A1 business according to the set schedule. Along with this, other projects should be prioritized, such as upgrading and modernizing fuel dispensers, thereby promoting the application of digital transformation in business operations; reviewing gas stations with suitable conditions to implement long-haul truck rest stop projects; maximizing the commercial location advantages of gas stations to develop non-fuel services, thereby increasing efficiency and adapting to the energy transition trend...

In concluding the conference, Mr. Nguyen Dang Trinh, CEO of PVOIL, stated that while the plan for 2025 is highly challenging in the face of numerous difficulties, the solutions and strategies discussed during the conference demonstrate the determination, effort, and confidence of the entire system in accomplishing the 2025 objectives. The CEO analyzed PVOIL’s growth opportunities in the context of the overall economy and government management, especially as the government aims for double-digit economic growth. Mr. Nguyen Dang Trinh also mentioned that the corporation would focus resources on implementing relevant tasks and projects to create new drivers for growth in 2025 and beyond. With the determination to achieve higher growth than the previous year, alongside the established foundations, competitive capabilities, flexible policies, and the dynamism of the leadership and workforce across the system, PVOIL is confident in achieving its 2025 goals.

Mr. Cao Hoai Duong, Party Secretary and Chairman of the Board of Directors of the Corporation, chaired the conference

Mr. Nguyen Dang Trinh, Deputy Party Secretary and CEO of the Corporation, chaired the conference

The overview of the conference

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