Deputy Prime Minister Pham Gia Tuc: Petrovietnam Strives for Double-Digit Growth in 2026 Through Technology Leadership
On the afternoon of July 9, 2026, Member of the Politburo and Deputy Prime Minister Pham Gia Tuc attended and directed the conference reviewing the first half of 2026 and implementing tasks for the second half of the year for the Vietnam Oil and Gas Group (Petrovietnam). At the conference, the Deputy Prime Minister recognized the outstanding achievements of the Group in the context of global energy market volatility, while highly commending the "One Team, One Goal" spirit of the Petrovietnam collective.
Impressive Achievements Amid Challenging Conditions
In the first half of 2026, Petrovietnam achieved many commendable results, particularly in the context of continuing complex developments in the global energy market with strong oil price fluctuations and increasingly clear energy transition trends.
Deputy Prime Minister Pham Gia Tuc praised the efforts of all Petrovietnam's cadres, workers, and employees, emphasizing that "the spirit of solidarity, high determination, and creativity in applying technology have helped the Group overcome many challenges to achieve important targets."
Technology - The Driving Force of the Oil and Gas Industry
Technology plays a pivotal role in Petrovietnam's development strategy. In the first half of the year, the Group has strongly applied digital technology to operational management, optimized production processes, and developed clean energy solutions.
Specifically, Petrovietnam has successfully implemented remote monitoring and operation systems (Remote Operation Center) at offshore oil fields, helping to reduce operational costs and increase extraction efficiency. Meanwhile, the Group has also made significant investments in research and development of carbon capture, utilization, and storage (CCUS) technologies to reduce emissions in production activities.
Technology Development Orientation Until 2026
To achieve the double-digit growth target in 2026, Petrovietnam has identified technology as a key factor with the following main orientations:
- Strengthen the application of artificial intelligence (AI) and big data in geological analysis and extraction optimization
- Develop renewable energy projects, particularly offshore wind and solar power
- Invest in green hydrogen technology and sustainable energy solutions
- Comprehensive digital transformation in enterprise management and production operations
Summary Table of First Half 2026 Operational Results
| Indicator | First Half 2026 Result | Achievement Rate | YoY Change |
|---|---|---|---|
| Crude Oil Production (million tons) | 5.2 | 105% | +8.3% |
| Gas Production (billion cubic meters) | 9.8 | 102% | +5.6% |
| Electricity Generation (billion kWh) | 42.3 | 110% | +12.4% |
| Revenue (billion VND) | 520,000 | 108% | +15.2% |
"One Team, One Goal" Spirit - The Key to Success
Deputy Prime Minister Pham Gia Tuc particularly emphasized and praised the "One Team, One Goal" spirit of the Petrovietnam collective. This spirit not only reflects internal solidarity but also demonstrates a strategic vision in applying technology for sustainable development.
"Petrovietnam is not only focusing on traditional production but is also proactively transitioning to high-tech fields and clean energy. This is the right orientation, in line with global development trends and the requirements of the national energy transition," the Deputy Prime Minister evaluated.
Technology Strategy Until 2030
At the conference, Petrovietnam also presented in detail its technology strategy until 2030, with key objectives:
- Reduce carbon emissions by 30% compared to 2020
- Increase the proportion of renewable energy in the production structure to 25%
- Build a national technology innovation and digital transformation center
- Develop value-added oil and gas products applying high technology
Tasks for the Second Half of 2026
Concluding the conference, Deputy Prime Minister Pham Gia Tuc required Petrovietnam to continue promoting technology application, especially digital technology and green technology, to complete and exceed the set targets for the entire year 2026. At the same time, the Group needs to strengthen cooperation with research institutes and universities at home and abroad to develop technology solutions suitable for Vietnam's conditions.
"Petrovietnam needs to continue to be the leading force in the national energy transition, contributing to successfully implementing Vietnam's Net Zero commitment by 2050," the Deputy Prime Minister emphasized.
The conference agreed on key tasks for the second half of 2026, focusing on strengthening production, accelerating the progress of key projects, especially those applying high technology, and preparing the development plan for the 2027-2030 period with a vision to 2050.
Completing the double-digit growth target is not only an economic achievement but also affirms Petrovietnam's position in applying technology for sustainable development, contributing to the common development of the national energy sector and international integration.
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