On February 17, 2009, the Dung Quat Refinery – a national key petroleum project – officially produced its first batch of refined oil products. This was not only the first batch of Vietnamese-branded petroleum products, but also a symbol of the success of Vietnam’s renovation policy and the Party’s emphasis on self-reliance. It represents the intelligence, strength, and determination of the Vietnamese people, and stands as a symbol of the Vietnamese working class in the Ho Chi Minh era. This event marked a significant milestone for the Vietnamese oil and gas industry, affirming its comprehensive development across the entire value chain from exploration, production, and extraction to refining and petrochemical processing.
To date, Petrovietnam (PVN) has become a leading national economic group, operating 14 oil fields domestically and one overseas, with total production reaching nearly 250 million tons of crude oil and over 50 billion cubic meters of gas. Crude oil exports have generated nearly USD 65 billion in revenue, contributing about USD 35 billion to the state budget, while foreign investment in exploration and production has exceeded USD 10 billion, and the Group’s equity capital has reached approximately VND 160 trillion.
A number of major projects in the fields of gas-to-power, refining, petrochemicals, and oil & gas services have been completed and put into operation, contributing significantly to the national economy. Implementing the campaign “Studying and Following the Moral Example of President Ho Chi Minh”, the Party Committee of PVN has regarded this as both a driving force and a goal, as well as an essential measure to improve the Group’s overall performance—achievements that have been recognized and highly appreciated by the Central Government.
During the ceremony, the Party Committee and the leadership of PVN officially launched a special emulation campaign to strive for exceeding production and business targets for 2009 and 2010, as well as for the 2006–2010 period, in celebration of the major national and industry anniversaries and to welcome the 11th National Congress of the Communist Party of Vietnam.
