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If traditional oil and gas gradually reduces its role in the next 20 years, can Petrovietnam become an "energy super corporation" similar to global giants or will it be left behind in the green energy race?
While the world is entering the most powerful energy transition period in history, Petrovietnam is no longer just a simple oil and gas exploitation enterprise. The group is repositioning its entire development strategy towards integrated industry and energy, expanding from oil and gas to LNG, gas power, hydrogen, green fuel, low carbon technology and future energy value chains.
What is worth noting is that this is not just a product change but an entire business model change. From a corporation focusing on resource exploitation, Petrovietnam is aiming to become a comprehensive energy solution provider for the Vietnamese economy.
Petrovietnam's new strategic pillars
Orientation Field
LNG Import, storage, regasification and power generation
Electrification Develop large-scale electricity and gas centers
Green Hydrogen Prepares the foundation for the fuel of the future
CCUS Carbon capture and storage
Biofuels Diversify energy sources
Petrochemical industry Increase added value from oil and gas
Technical services Market expansionpeople at home and abroad
Digital transformation Optimize operations and management
From oil and gas chain to energy value chain
Previously, Petrovietnam mainly focused on oil and gas exploration, exploitation and processing activities.
Currently, the model is being expanded into a complete value chain including:
Upstream
Geological survey, exploration and exploitation
Midstream
Transportation, LNG terminal, gas pipeline
Downstream
Electricity, petrochemicals, clean fuels
Support service
Engineering, logistics, maintenance, operations and consulting
This helps the group reduce its dependence on world oil price fluctuations and create a more sustainable revenue source.
Future technologies are being prepared
Technology Meaning
Green Hydrogen Zero-emission fuel
Green Ammonia Marine transportation and power generation
CCUS Reduces CO₂ emissions
Energy Storage Supports Renewable Energy
Nuclear power Supplementing background power
AI and digitalization Increase operational efficiency
Many experts believe that these areas will determine the position of energy corporations in the period 2030–2050.
Global trends are creating huge pressure
The world's leading energy corporations such as:
*Shell
*BP
* TotalEnergies
* Equinor
are all investing tens of billions of dollars in LNG, hydrogen, offshore wind power and low carbon technology.
Petrovietnam is also following this trend but with its own advantage that the Vietnamese market still has the highest energy demand growth in Asia.
The value that Petrovietnam can create
Impact Objective
Ensuring energy security lReducing import dependence
Industrial development Create domestic value chain
Attract investment Stimulate high-tech projects
Emission reduction Supports Net Zero target
Increase competitiveness Enhance Vietnam's position on the energy map
The most notable point in the new strategy is that Petrovietnam does not abandon oil and gas but uses the existing oil and gas platform to create a stepping stone into future energy fields. This is a pragmatic approach that is being adopted by many countries instead of converting too quickly, which risks energy security.
When LNG, hydrogen, CCUS, gas power and energy storage technologies enter the phase of large-scale commercialization, Petrovietnam has the opportunity to become one of the most important industrial and energy corporations in Southeast Asia, playing a central role in Vietnam's journey to ensuring energy security and sustainable development.
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