About Petrovietnam
Web, 05/05/2010, 11:04 GMT+7
Petrovietnam - a strong economic group in Vietnam

PETROVIETNAM, Vietnam Oil and Gas Group is a state-owned company. On June 18th 2010, the Prime Minister issued the Decision No. 924/QĐ-TTg accepting that PETROVIETNAM is the State-owned Company Limited-Vietnam Oil and Gas Group (short name is Vietnam Oil and Gas Group) with international transaction name is Petrovietnam, PVN for short.

Petrovietnam - a strong economic group in Vietnam is known worldwide.

-    Full name: Vietnam Oil and Gas Group
-    International transaction name: Petrovietnam, PVN for short
-    Headquarter: No. 18, Lang Ha Street, Ba Dinh District, Hanoi, Vietnam.
-    Phone: 84-4-38252526
-    Fax: 84-4-3-8265942
-    Website: www.petrovietnam.com.vn; www.pvn.com.vn; www.pvn.vn
-    Email: info@pvn.vn  

In the Decision No. 190/QĐ-TTg, issued on January 29th 2011, the Prime Minister has approved the Regulation of Petrovietnam’s Organization and Task. Petrovietnam has the main functions and tasks below:

a)    Invest in subsidiaries and affiliates; control the subsidiaries following the percent of holding registered charter capital of Petrovietnam;

b)    Implement petroleum activities and sign the petroleum contracts with the organizations, individuals operating in petroleum fields based on Petroleum Law; manage and supervise the petroleum/hydrocarbon exploration and production activities following contracts with petroleum contractors and subsidiaries, organizations and other individuals;

c)    Directly do business in accordance with the Vietnamese related laws for profit targets. Economic relations between Petrovietnam and its subsidiaries, affiliates and are stipulated in economic contracts;

d)    Implement rights and obligations of the owner at the subsidiaries and affiliates;

e)    Organize the implementation of business plans among Petrovietnam Oil and Gas Group;

f)    Implement other activities the Government entrusts directly to Petrovietnam.

The Petrovietnam’s logo with two main colours – the blue of background and the red of fire is the symbol of hydrocarbon exploration-production and other activities of Petrovietnam to take the petroleum resources from land and continental for the Vietnam’s economic development. The red fire with two branches likes the V letter (the first letter of the word “Vietnam”) is designed so that the space between the two branch of the fire looks like the country’s shape. The red colour of the V letter is distinguished in other letters of the word in white colour PETROVIETNAM - the International transaction name of Vietnam Oil and Gas Group.

* Slogan: Petrovietnam-The energy for the national sustainable development

* Our Vision by 2025: The leading Petroleum Group in the region - the Vietnamese pride

* Our Business Philosophy:

-    Investment: Invest in key sectors with high potentials projects in a sustainable manner.
-    Product qualities: is the most important issue, the feature creates the sustainable development of our business.
-    Customers and partners: are our friends. Petrovietnam commits to share profit, responsibility, advantage and disadvantage with customers and partners.
-    Breakthrough: Narrow the gap, leapfrog and create the fair competition.
-    Constant reform: there’s no permanent way of thinking and every initiative is respected and all contributes to general success.
-    Solidarity and unification: are the foundation creating the strength for sustainable development of Petrovietnam.
-    Risk management: Every risky element is paid attention to in each activity of Petrovietnam
-    Action guideline: Dare to think; Dare to do; Dare to take responsibility; timely decide and drastically carry out.
-    Safety and environment: Safety for the human beings and property, environmental protection and sustainable development.
-    Responsibility with the community: Taking the lead in social welfare and social security programmes.
-    For the sake of employees: Taking much care of material and spiritual life of employees.