Petrovietnam

{{Short description|Vietnamese state-owned oil company}} {{Use American English|date=January 2019}} {{Use mdy dates|date=January 2019}}

{{distinguish|text=[[Petrolimex]] (Vietnam National Petroleum Group)}}

{{Infobox company | name = Vietnam National Industry - Energy Group | logo = Petrovietnam 2025 logo.svg | logo_size = 300px | image = Toà nhà Petro Vietnam, Láng Hạ, Hà Nội 001.JPG | image_caption = Headquarters | trading_name = PETROVIETNAM | native_name = Tập đoàn Công nghiệp – Năng lượng Quốc gia Việt Nam | native_name_lang = vi | former_name = Vietnam Oil and Gas Group | type = [[State-owned enterprise]] | traded_as = (Subsidiaries)<br> *{{HOSE|PVS}} *{{HOSE|PVD}} *{{HOSE|PVC}} *{{HOSE|BSR}} | fate = | predecessor = | successor = | foundation = {{start date and age|1977}} | founder = | defunct = | location_city = [[Hanoi]] | location_country = Vietnam | location = | locations = | area_served = | key_people = | industry = [[Oil and Gas]] industry<br>[[Nuclear power]] and [[electric power industry]]<br>[[Petrochemistry]]<br>[[Financial services]] | products = Oil, natural gas, coal, electricity | production = | services = | revenue = $37 billion (2012)<ref>{{cite news|title=PVN lãi gần 5,4 tỉ đô la Mỹ|url=http://www.thesaigontimes.vn/Home/doanhnghiep/motvongdoanhnghiep/89482/|access-date=28 December 2012|newspaper=The Saigon Times|date=27 December 2012|archive-url=https://web.archive.org/web/20131230222650/http://www.thesaigontimes.vn/Home/doanhnghiep/motvongdoanhnghiep/89482/|archive-date=December 30, 2013|url-status=dead}}</ref> | operating_income = $5.4 billion (2012) | net_income = | aum = | assets = | equity = | owner = [[Government of Vietnam]] | num_employees = | parent = | divisions = | subsid = [[Vietsovpetro]] | homepage = {{url|http://www.pvn.vn/sites/en/Pages/default.aspx}} | footnotes = | intl = }}

'''Petrovietnam''' ('''PVN'''), formally the '''Vietnam National Industry - Energy Group''' ({{Langx|vi|Tập đoàn Công nghiệp – Năng lượng Quốc gia Việt Nam}}) and formerly the '''Vietnam Oil and Gas Group''' ({{Lang|vi|Tập đoàn Dầu khí Việt Nam}} or {{Langx|vi|Tập đoàn Dầu khí Quốc gia Việt Nam|4=Vietnam (National) Oil-gas Group|label=none}}),<ref>{{Cite web |title=Innovation at the Core: Transforming Petrovietnam into an "Extraordinary" National Energy Industry Corporation |url=https://www.pvn.vn/sites/en/Pages/detail.aspx?NewsID=aa1455e6-897c-478c-be0e-b1869fd04adb |access-date=2025-02-28 |website=Petrovietnam |quote=Vietnam Oil and Gas Group (Petrovietnam) is unified in its goals, actions, and strategic development direction to transform into Petrovietnam – the National Energy Industry Corporation, pursuing “double-digit” growth and sustainable longevity.}}</ref> is the [[State ownership|state-owned]] national [[Petroleum|oil]], [[Natural gas|gas]] and [[energy industry]] corporation of [[Vietnam]]. Petrovietnam has developed rapidly since it was established in 1975,<ref>{{cite web|url=http://www.pvn.vn/?portal=news&page=detail&category_id=7&id=388|title=PVN Internet|last=Egal|website=www.pvn.vn|access-date=11 April 2018}}</ref> and its activities, through its various companies and wholly owned subsidiaries, now cover all the operations from oil and gas exploration and production to storage, processing, transportation, distribution and services. Wholly owned by the Vietnamese central government, it is responsible for all [[petroleum|oil]] and [[natural gas|gas]] resources in the country and has become its country's largest oil producer and second-largest power producer.<ref name="Sharma">{{cite news |last=Sharma |first=Rakesh |date=July 21, 2010 |title=UPDATE: India Interested In Buying BP Assets In Vietnam - Oil Minister |trans-title=title of preliminary version: "India Oil Minister: Interested In Buying BP Assets In Vietnam" |url= |access-date= |work=Dow Jones {International/Business/Institutional} News  |publisher=Dow Jones & Company Inc. |publication-place=New York |id={{Factiva|DJI0000020100721e67l0012e}} (International; {{small|<nowiki>AEQ | NIB | NIP | NRG | WMMI | IGV | ENE | NND | UTI</nowiki>}}), {{Factiva|DJON000020100721e67l0003v}} (Business; {{small|<nowiki>AEQ | DAP | NIB | NIP | NRG | WMMI | IGV | ENE | NND | TPX | UTI</nowiki>}}), {{Factiva|DJDN000020100721e67l002l9}} (Institutional). {{ProQuest|2169232926}}.}}</ref><ref>{{Cite news |date=21 July 2010 |title=India interested in buying BP assets in Vietnam: reports |work=Agence France-Presse |id=pmc/pdw. India {{!}} Vietnam {{!}} BP {{!}} energy {{!}} merger. {{Factiva|AFPR000020100721e67l005kk}}}}</ref>

==Operations== Petrovietnam also carries out exploration activities in [[Malaysia]], [[Indonesia]], [[Mongolia]], [[Myanmar]] and [[Algeria]], and recovers oil in [[Iraq]] and [[Malaysia]].<ref>{{cite web |url=http://www.gazprom.com/eng/news/2006/11/21623.shtml |title= Gazprom|website=www.gazprom.com |archive-url=https://web.archive.org/web/20070928082414/http://www.gazprom.com/eng/news/2006/11/21623.shtml |archive-date=September 28, 2007}}</ref>

==International cooperation== In order to help pay for the costs stemming from the [[Deepwater Horizon explosion]], [[BP]] plans to sell its stakes in gas and oil properties in Vietnam. It maintains joint ownership of such projects — Lan Tay-Lan Do gas field and Nam Con Son pipeline — with [[Oil and Natural Gas Corporation|ONGC]], Petrovietnam, and [[ConocoPhillips]]. Moreover, its partners will be given priority when purchasing its shares should Hanoi approve the transaction.<ref>{{cite news |title=Who will buy BP's property in Vietnam? |url=http://www.lookatvietnam.com/2010/07/who-will-buy-bps-property-in-vietnam.html |date=July 23, 2010 |work=Look at Vietnam |access-date=July 25, 2010 |archive-date=March 20, 2014 |archive-url=https://web.archive.org/web/20140320084434/http://www.lookatvietnam.com/2010/07/who-will-buy-bps-property-in-vietnam.html |url-status=dead }}</ref> India has expressed interest in buying BP's assets to secure needed energy resources for its fast-growing economy.<ref name="Sharma"/>

In 2010, Petrovietnam Group has secured $1 billion loan from government bond proceeds and BNP Paribas for the [[Dung Quất Refinery|Dung Quat oil refinery]] Plant No 1, in Vietnam, which began operating at 100% production capacity in August 2010.<ref name="htanna">{{cite web|title=PetroVietnam secures $1 billion loan to develop Dung Quat oil refinery|url=http://energy.worldconstructionindustrynetwork.com/news/petrovietnam_secures_1_billion_loan_to_develop_dung_quat_oil_refinery_100929/|publisher=World Construction Network|access-date=29 September 2010|archive-date=March 6, 2012|archive-url=https://web.archive.org/web/20120306102606/http://energy.worldconstructionindustrynetwork.com/news/petrovietnam_secures_1_billion_loan_to_develop_dung_quat_oil_refinery_100929/|url-status=dead}}</ref>

==Subsidiaries and joint-ventures== Petrovietnam has several subsidiaries:<ref>{{cite web|url=http://english.pvn.vn/|title=Vietnam National Oil and Gas Group|website=english.pvn.vn|access-date=11 April 2018|archive-url=https://web.archive.org/web/20100719044829/http://english.pvn.vn/|archive-date=July 19, 2010|url-status=dead|df=mdy-all}}</ref> * Petrovietnam Exploration Production Corporation (PVEP) * Petrovietnam Gas Corporation (PV Gas) ** Vietnam Steel Gas Pipeline Joint-Stock Corporation (PV Pipe)<ref>{{Cite news| title = PV Pipe sản xuất ống thép dầu khí đầu năm 2013| publisher = The Saigon Times| url = http://www.thesaigontimes.vn/Home/doanhnghiep/motvongdoanhnghiep/85258/| date = 2012-10-16| access-date = 2012-10-19| archive-url = https://web.archive.org/web/20160304001411/http://www.thesaigontimes.vn/Home/doanhnghiep/motvongdoanhnghiep/85258/| archive-date = March 4, 2016| url-status = dead}}</ref> * Petrovietnam Oil Corporation (PV Oil) * Petrovietnam Power Corporation (PV Power) * Binh Son Refinery Ltd. (BSR) * Petec Trading and Investment Corporation * [[PetroVietnam University|Petrovietnam University]] (Trường Đại học Dầu khí Việt Nam) [https://pvu.edu.vn/en/]

Petrovietnam holds controlling stakes in the following companies: * Petrovietnam Drilling & Well Services Joint Stock Corporation (PV Drilling) * Petrovietnam Technical Service Joint Stock Corporation (PTSC) * Petrovietnam Transportation Joint Stock Corporation (PV Trans) * [[PetroVietnam Finance|Petrovietnam Finance]] Joint Stock Corporation (PVFC) * [[PetroVietnam Insurance|Petrovietnam Insurance]] Joint Stock Corporation (PVI) * Petrovietnam General Service Joint Stock Corporation (Petrosetco) * Petrovietnam Construction Joint Stock Corporation (PVC) * Petrovietnam Fertilizer and Chemicals Joint Stock Corporation (PVFCCo) * Drilling Mud Joint Stock Corporation (DMC) * Joint Venture Vietsovpetro (VSP) * Petrovietnam Petrochemicals and Fibre Joint Stock Company (PV Tex), a joint-venture set up with textile manufacturer [[Vinatex]] to build Vietnam's first polyester fiber plant. The factory will be located in [[Haiphong]] and use by-products from oil-refining.<ref> {{Cite news | title = PVTex to operate first polyester fiber project early 2011 | newspaper = The Saigon Times | url = http://english.thesaigontimes.vn/Home/business/other/10257/ | date = 2010-05-14 | access-date = 2011-07-06 | archive-url = https://web.archive.org/web/20111006070103/http://english.thesaigontimes.vn/Home/business/other/10257/ | archive-date = October 6, 2011 | url-status = dead | df = mdy-all }} </ref> * Vietnam Energy Inspection Joint Stock Company (EIC) * Phuoc An Port Construction and Investment Joint Stock Company (PAP) * Petrovietnam Construction Investment Consultant Joint Stock Company (PCIC)

[[File:Petrovietnam-TyumenNIIgiprogas.jpg|250px|thumb|Experts from Petrovietnam work in [[:en:TyumenNIIgiprogas|TyumenNIIgiprogas]]. [[:en:Tyumen|Tyumen]], [[:en:Russia|Russia]]. 2014.]] Together with [[Gazprom]] the company has established Vietgazprom.<ref name=upstream151211> {{cite news | newspaper = [[Upstream (newspaper)|Upstream Online]] | publisher = [[NHST Media Group]] | title = Vietgazprom to hire Energy Searcher | url= http://www.upstreamonline.com/live/article294263.ece | date = 2011-12-15 | access-date=2011-12-15 | url-access = subscription }} </ref>

===Finance Corporation=== '''Petrovietnam Joinstock Finance Corporation''' (international transaction name: Petrovietnam Finance Corporation, brief name PVFC) is a non-banking finance corporation, a subsidiary Petrovietnam. The corporation's slogan is "New Confidence of Development".

PVFC was founded on June 19, 2000 under the name Petrovietnam Finance Company. It was certificated [[ISO 9001:2000]] by SGS (Switzerland) on May 5, 2004. In 2008, it transformed to Petrovietnam Finance Joint Stock Corporation with VND 5000 billion chartered capital. It held [[Initial public offering|IPO]] in October 2008 and listed on the [[Ho Chi Minh Securities Trading Center]] under code PVF. Strategic partner [[Morgan Stanley]] holds 10% out of PVFC's [[chartered capital]].

==References== {{Reflist}}

==External links== {{Commons category|Petrovietnam}} *{{official website|http://www.pvn.vn/sites/en/Pages/default.aspx}} *[http://www.petromanning.com Petrovietnam's Manpower Supply and Services Company] {{Webarchive|url=https://web.archive.org/web/20211024223900/https://www.petromanning.com/ |date=October 24, 2021 }} *[https://web.archive.org/web/20080329233736/http://www.petrovietnam.info/ Information of Vietnam Oil and Gas Group] *[http://www.pvfc.com.vn/ Website of the Finance Company] {{Webarchive|url=https://web.archive.org/web/20090721165911/http://www.pvfc.com.vn/ |date=July 21, 2009 }}

[[Category:Oil and gas companies of Vietnam]] [[Category:Government-owned companies of Vietnam]] [[Category:National oil and gas companies|Vi]] [[Category:Energy companies established in 1977]] [[Category:Non-renewable resource companies established in 1977]] [[Category:Vietnamese companies established in 1977]] [[Category:Companies based in Hanoi]] [[Category:Vietnamese brands]] [[Category:Companies in the VN30 Equal Weight Index]]