According to the decision, the Vietnam National Oil and Gas Group was established as a multi-ownership economic group, in which the State holds controlling capital. The Group was formed based on the reorganization and restructuring of the Vietnam Oil and Gas Corporation and its member units.
The structure of the Vietnam National Oil and Gas Group consists of the Parent Company – Vietnam National Oil and Gas Group – which is a State-owned enterprise. The Parent Company is responsible for signing and supervising the implementation of petroleum contracts with foreign partners, executing national key projects in the oil and gas sector, investing in other enterprises, and maintaining control over its subsidiaries through State-assigned capital and assets, technology, brand, and market advantages.
The Group’s corporations operate under the parent-subsidiary model. The parent company wholly owns the charter capital of key corporations, including the Petroleum Exploration and Production Corporation, the Gas Corporation, the Power Production and Trading Corporation, and the Refining and Petrochemical Corporation.
Additionally, the Group includes four one-member limited liability companies fully owned by the Vietnam National Oil and Gas Group, fourteen companies in which the Group holds over 50% of the charter capital, two companies in which the Group holds less than 50%, and two training institutions.
The decision affirms that the Vietnam National Oil and Gas Group will serve as the core entity driving the sustainable development of Vietnam’s petroleum industry, enhancing its competitiveness and effectiveness in international economic integration, while ensuring national energy security to support the country’s development.
Theo VNECONOMY
