Hanoi (VNA) – Prime Minister Pham Minh Chinh has assigned relevant ministriesand agencies to remove any existing obstacles as soon as possible, thus providing unwavering support for the Vietnam Oil and Gas Group (꧃Petrovietnam) to further develop and en🦂sure national energy security.

Addressinga hybrid conference in Hanoi on January 8, convened to evaluate Petrovietnam'sperformance in 2023 and outline tasks for this year, PM Chinh commended the groupfor its substantial contributions to the State budget, emphasising its role insafeguarding national independence, sovereignty, and territorial integrity. Petrovietnam should further invest in innovation, digitaltransformation and green transition, including the development of renewableenergy industry, decentralisation coupled with the efficient allocation ofresources, and administrative reform, he said. Agreeing with the group’s tasks and solutions for 2024, the leader urged strict adherence to socio-economic duties in alignment with resolutionsand conclusions of the Party, National Assembly, Government, and PM himself. The oil and gas sector, particularly Petrovietnam, was requiredto fortify its organisational structure, cultivate a high-caliber workforce,and sustain effective corporate restructuring, equitisation and Statedivestment initiatives. He pressed for a comprehensive focus on forecasting, evaluatingpotential growth drivers across diverse business sectors, and addressinglingering issues in collaboration with relevant sectors and partners. In conclusion, he believed that Petrovietnam will continue to thrive, successfully achieve its set targets with better results this year. In a noteworthy achievement last year, Petrovietnam exceeded itsannual petroleum reserves target one month and 10 days ahead of schedule,amassing 13 million tonnes, surpassing the annual target by 8.3%.

Financially, Petrovietnam reported a total revenue of 942.8trillion VND (39.2 billion USD), outstripping the annual plan by39% and 11.6 trillion VND higher than the record set in 2022. The figure was equivalentto 9.2% of the national GDP. Contributing significantly to the State budget, itprovided 151.8 trillion VND, surpassing the annual plan by 94%, equivalent toaround 9.4% of the total State budget revenue. The consolidated pre-tax profitreached 54.5 trillion VND, surpassing the annual target by 57%.

For the year ahead, Petrovietnam has set ambitious goals, aimingfor a revenue of 734.2🍬 trillion VNDဣ, a 56.5 trillion VND increase from the 2023plan, and a substantial contribution of 94 trillion VND to the State budget./.