PetroVietnam hopes for strong growth in future

09:46 | 05/02/2016 Companies

President Truong Tan Sang said he hoped that the Vietnam Oil and Gas Group (PetroVietnam) would see strong growth despite global economic downturns while meeting with PVN staff in Hanoi on February 4, on the occasion of the upcoming Lunar New Year (Tet).

PetroVietnam hopes for strong growth in future

President Truong Tan Sang speaking at the meeting (Photo: VNA)

Established 40 years ago, PetroVietnam, which began as a joint venture between Vietnam and the former Soviet Union, has hugely expanded its operational scale and effective cooperation with other countries, the President said.

This has lived up to the expectation of late President Ho Chi Minh upon his arrival in Azerbaijan - then a developing oil and gas nation - over 50 years ago, he added.

The endless efforts of the 50,000 officials and workers of the group has significantly contributed to the local economy, as well as other fields such as , and diplomacy, he stressed.

He asked the national group be fully aware of the opportunities and challenges in 2016 given the country’s extensive global integration, and have proper strategies and solutions for rapid and sustainable development.

The State leader said he hopes PetroVietnam will become a firm pillar in the local economy, with strong management and the highest economic efficiency.

Leaders of the national group reported that PetroVietnam grossed VND 560 trillion (US$25.2 billion) in revenues in 2015 despite global declining oil prices. Over the past five years, the group contributed over VND836 trillion (US$37.62 billion) to the State budget./.


Source: NDO/VNA