Conclusion 76-KL/TW dated April 24, 2024 of the Politburo on the implementation of Resolution No. 41 on the orientation of the Development Strategy of Vietnam's Oil and Gas Industry emphasized the promotion of the advantages of the Oil and Gas Industry in developing the renewable energy and new energy industries such as developing offshore wind power projects for export, projects on hydrogen and ammonia production, etc. At the same time, it clearly pointed out the orientation of developing the Vietnam Oil and Gas Group into the Vietnam National Industry and Energy Group.

Recently, in order to adapt to the energy transition trend, create a new image, and reflect the commitment to energy transition, at the 2024 Year-end Conference and the 2025 Plan Implementation Conference of the Group, Prime Minister Pham Minh Chinh and leaders of the Government and ministries performed the ceremony to transform the Vietnam Oil and Gas Group into the Vietnam National Industry and Energy Group (Petrovietnam).

At the same time, Petrovietnam has urgently implemented the construction and completion of a new development strategy, researched and built a new brand identity, and completed related legal procedures to officially operate with a new name. Petrovietnam has determined to focus on developing on three strategic pillars: Energy - Industry - Services, with Energy as the core pillar.

On April 9, 2025, the Prime Minister officially decided to change the name of the Vietnam Oil and Gas Group to the Vietnam National Industry and Energy Group (Petrovietnam). The new designation "Vietnam National Industry and Energy Group" affirms that Petrovietnam is not only a traditional oil and gas and energy group, but also the center of industry, services and the national energy pillar - carrying the mission of sustainable development, technological innovation, and ensuring energy security for Vietnam. In addition, the name change will ensure that the organization and operation of the Group are consistent with the orientation of the Politburo, the energy transition trend and the Prime Minister's commitment to Net Zero by 2050.

On behalf of the Prime Minister, Deputy Prime Minister and Minister of Foreign Affairs Bui Thanh Son congratulated Petrovietnam on this special milestone on the occasion of the Group's 50th anniversary. He also affirmed that Petrovietnam's transformation into Vietnam National Industry and Energy Group is not only a change of name but also demonstrates the continuous growth and development, more importantly, it is the development orientation of Petrovietnam, expanding its operating space and enhancing its role and position not only in the traditional energy sector but also in the industrial and new energy sectors. He also expressed his belief that Petrovietnam will take on new responsibilities in the coming time along with the development of the country.

The transformation is an important milestone of Petrovietnam after 50 years of construction and development, after 64 years of tradition in the Oil and Gas industry. At the same time, it demonstrates Petrovietnam's strong commitment and determination in the process of transformation in development strategy and operating model, affirming the leading role, foundation and driving force of state-owned enterprises in the industrial and energy sectors.

The new name not only reflects the new mission and vision, but also demonstrates Petrovietnam's pioneering commitment in technological innovation, sustainable development, ensuring national energy security, and integrating into the global energy chain.

Petrotimes