PVOIL Youth: Upholding Enthusiasm and Knowledge for the Future Development of PetroVietnam Oil Corporation

This is in reference to the experiences, expectations, and tasks assigned to young union members by the PetroVietnam Oil Corporation (PVOIL) leadership at a Dialogue Program with Youth held on the occasion of Youth Month 2024, celebrating the 93rd anniversary of the Ho Chi Minh Communist Youth Union.

The program took place on March 26, 2024, with the participation of: Mr. Cao Hoai Duong - Party Secretary, Chairman of the Board of Management of the Corporation; Mr. Doan Van Nhuom - Deputy Party Secretary, President and CEO of the Corporation; The Chairman of the Corporation's Trade Union; The Head of the Corporation's Organization and Personnel Department; Directors of subsidiaries in Ho Chi Minh City; The Executive Committee of the Youth Union of the Corporation and 250 youth union members who attended directly and online at all affiliated and subsidiaries.

On behalf of the Corporation's leadership, Mr. Cao Hoai Duong and Mr. Doan Van Nhuộm provided an overview of PVOIL's production and business situation in 2023. They emphasized that the outstanding results in recent years have been contributed by the young workforce, who are also youth union members in various professional positions throughout the system. They actively and effectively contributed to the company's success. The Corporation's leadership also acknowledged and highly appreciated the activities of the Youth Union. These activities are aligned with the Corporation's political and business tasks. They expressed their confidence that the young union members and young workers will continue PVOIL's development journey.

During the meeting, the youth union members raised many questions and concerns about PVOIL's production and business activities, from specific details to the overall picture. Mr. Cao Hoai Duong and Mr. Doan Van Nhuom provided comprehensive and detailed answers to all of the questions. They covered topics such as:
The impact of energy transition and digital transformation on PVOIL's business operations and solutions for adaptation and development.

The challenges facing the petroleum retail business today and solutions for flexible adaptation and response to market challenges.

The strategies and solutions that helped PVOIL achieve many important records and goals in terms of growth and development in 2023, especially in terms of revenue, output, and petrol station development.

The solutions for PVOIL to ensure the completion of the 2024 management plan.
PVOIL's future development orientations, strategies, and expectations.

In response to the changing market landscape, PVOIL has promptly implemented various measures, including:

Deploying cashless payment methods at petrol stations.
Developing fuel purchase applications for customers such as PVOIL Easy, B2B, and PVOIL 4U.
Modernizing fuel pumps.
Cooperating with Vinfast to install electric vehicle charging stations at petrol stations.

Diversifying non-fuel services at retail stations to meet the initial needs of energy transition and digital transformation in the petroleum retail business.

In terms of business and production management, PVOIL has closely followed and maximized market opportunities, avoiding passivity in any situation, even during the most challenging market times. Additionally, PVOIL has focused on "scaling up" and developing its business system, especially by removing mechanisms and policies to promote the development of petrol stations, while maintaining and developing the wholesale and industrial customer channels. PVOIL has also focused on promoting international business through its subsidiaries, PVOIL Singapore and PVOIL Laos. Another crucial solution is that PVOIL has effectively coordinated and leveraged the value chain with member units of Vietnam Oil and Gas Group, from crude oil supply, gasoline and oil product consumption, base gasoline production, to intermediate product blending.

The Corporation's leadership also pointed out the areas and tasks that the young union members need to overcome their limitations and focus on doing better in their movement activities. They highlighted individual contributions and efforts within the collective development to further contribute to PVOIL's development journey.

Through the meeting and dialogue with the Corporation's leadership, PVOIL youth union members gained more detailed, complete, and comprehensive information about the Group's business and production activities. This information helps them feel more secure and confident in the Group's development and allows them to shape their own roles and responsibilities in training and work to meet PVOIL's future development requirements and orientations./.

Mr. Cao Hoai Duong, Party Secretary and Chairman of the Board of Management of PVOIL, shared information with youth union members during a dialogue program.

Mr. Doan Van Nhuom - Deputy Party Secretary, President and CEO of PVOIL, shared information with youth union members during a dialogue program.

Overview of the Youth Meeting and Dialogue Program.

Youth union members raise questions at the dialogue program.

Youth union members raise questions at the dialogue program.

Youth union members raise questions at the dialogue program.

Youth union members raise questions at the dialogue program.
Youth union members raise questions at the dialogue program.

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