PVOIL ranked among top 500 largest companies in Southeast Asia by Fortune

On June 18th, Fortune magazine unveiled its 2024 Southeast Asia 500 list, marking the first time Fortune has ranked the 500 largest companies in the region based on their fiscal year 2023 revenue. Among the 70 Vietnamese companies that made the list, Petrovietnam (Vietnam Oil and Gas Group) contributed 8 of its member and subsidiary companies.

Petrovietnam Oil Corporation (PVOIL) earned a prestigious spot in the Top 100, ranking 88th with $4.3 billion in revenue.

Also in the Top 100 are Binh Son Refining (BSR), ranked 52nd with $6.2 billion in revenue, and Petrovietnam Gas (PV GAS), ranked 98th with $3.8 billion in revenue.

The Southeast Asia 500 list also includes other Petrovietnam members and subsidiaries: Petrovietnam Power (PV Power) at 241st with $1.1 billion in revenue; Petrovietnam Technical (PTSC) at 319th with $813 million; Petrovietnam General (PETROSETCO) at 353rd with $723 million; Petrovietnam Fertilizer (PVFCCo) at 426th with $570 million; and Petrovietnam Ca Mau (PVCFC) at 454th with $528 million.

For the first time, Fortune magazine has released its Southeast Asia 500 list, ranking the 500 largest companies in the region based on their revenue for the 2023 fiscal year.

This inaugural ranking encompasses companies from seven Southeast Asian countries: Indonesia, Thailand, Malaysia, Singapore, Vietnam, the Philippines, and Cambodia. Indonesia leads with 110 companies, followed by Thailand with 107. Malaysia, with 89 companies, surpasses Singapore's 84. Vietnam has 70 companies on the list, while the Philippines has 38 and Cambodia has 2.

"The Fortune Southeast Asia 500 reflects a dynamic and rapidly changing region—one whose core economies are growing significantly faster than Europe or the U.S. This is partly because Southeast Asia now has far greater importance in the global economy, especially as many multinationals on the Global 500 have shifted much of their supply chains to Southeast Asian nations," said Clay Chandler, Fortune's Asia Editor.

The companies included in the first Southeast Asia 500 list join the ranks of top companies recognized in other Fortune 500 lists, including the original Fortune 500, Fortune Global 500, Fortune Europe 500, and Fortune China 500. The Fortune Southeast Asia 500 list and the stories of the companies featured will be available on newsstands across Asia starting June 18, 2024./.

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