As the leading economic group of Vietnam, PetroVietnam has developed a complete oil and gas industry, contributing to economic development and ensuring national sovereignty, energy and food security. Since the early days, the President has played an important part in the development of PetroVietnam.
After the Dien Bien Phu victory, Northern Vietnam was liberated and economic reconstruction required the exploitation of natural resources, especially oil and gas. President Ho Chi Minh and the government developed extraction industries, including gas and oil. With the assistance of the then Socialist countries, especially the former Soviet Union, mining and geological experts were trained at home and abroad, meeting the immediate and long-term demands. The first class of geologists was trained in 1955, learning by doing, under the guidance of foreign experts.
During his visit to Azerbaijan Republic (of the former Soviet Union) and the Baku oil industry on July 23, 1959, President Ho told his host: “I believe Vietnam also has offshore oil, when the war is over you should help us develop the oil and gas industry, like you have now in Baku.” When his plane flew across the Caspian Sea, the President showed Pham Thi Xuan Phuong, a staff member of Vietnam’s Moscow Embassy, the oil platforms and said: “This is an offshore oil area. It is very precious. Any country that has oil will become rich.” No doubt, it is the wish and guidance of President Ho Chi Minh to develop the Vietnam National Oil and Gas Corporation (PetroVietnam).
Consequently, after the reunification of Vietnam, on August 9, 1975, the Vietnam Workers’ Party Central Committee issued Resolution 224/NQ-TW on oil and gas exploration throughout the entire country. On September 3, 1975, the government issued Decision 170-CP on the establishment of the Vietnam Oil and Gas Corporation (predecessor of PetroVietnam). In the following years, special attention was paid to the development of oil and gas. On July 7, 1988, the Party Politburo issued Resolution 15-NQ/TW on the development of Vietnam oil and gas until 2000. On January 19, 2008, Conclusion 41-KL/TW of the Politburo and Decision 386/QD-TTg of the Prime Minister approved the development strategy of the Vietnam gas and oil industry to 2015 and vision until 2025 to develop oil and gas as an important economic-technological industry including exploration, exploitation, transport, processing, storage, distribution, service, import and export. PetroVietnam will become a strong multi-service group in domestic and international markets.
From its unstable steps as a young oil and gas industry player, after half a century of development, PetroVietnam now has become a strong oil and gas group. Since 1991, PetroVietnam has contributed over 20 percent in GDP, over 30 percent of State budget and some 20 percent of total export value of Vietnam. In particular, with Decision 198/2006/QD-TTg of August 29, 2006 of the Prime Minister on establishing PetroVietnam, the operation of the group has been intensified and expanded with turnover and budget revenue exceeding the plan, successfully playing the role as the leading and driving force in securing national sovereignty, energy and food security for Vietnam’s socio-economic stability.
PetroVietnam’s business activities have expanded not only in Vietnam but also in many other countries, with spearhead industries of gas-electricity, oil refinery, urea fertilizer processing, bio-fuel, oil and gas services. Beside the role as driving force of the economy, PetroVietnam is also leading in corporate responsibility and social welfare.
PetroVietnam has launched an emulation drive in all its units to increase productivity and efficiency, learning from the bright examples set by President Ho Chi Minh, to continue PetroVietnam’s development into an exemplary economic group. PetroVietnam is fully committed to making Vietnam more beautiful, as President Ho Chi Minh expressed in his Last Will.
Minh Ngoc
Vietnamese
