2026: PETROSETCO Strengthening Internal Capabilities – Shaping the Future

On the afternoon of December 18 in Ho Chi Minh City, PETROSETCO held the 2025 Business Performance Review and 2026 Orientation Conference, in conjunction with the Employees’ Conference. The event served as an important occasion for the Corporation to comprehensively assess its achievements, draw valuable lessons learned, and identify key objectives and solutions for the next stage of development.The conference was attended by representatives of the leadership of the Vietnam National Industry – Energy Group (PetroVietnam) and its specialized departments, along with the full leadership of PETROSETCO, representatives of subsidiary units, key employees, and exemplary individuals across the Corporation.  

Reports presented at the conference indicated that 2025 unfolded amid continued volatility and challenges in both the global and domestic economic environment. Nevertheless, with a proactive, flexible, and decisive management approach, PETROSETCO maintained operational stability, particularly in terms of profitability.

Specifically, consolidated revenue in 2025 was estimated at VND 20.6 trillion, reaching 101% of the annual plan and increasing by 8% compared to 2024. Profit before tax reached VND 402 billion, achieving 132% of the plan and rising 42% year-on-year; profit after tax reached VND 322 billion, exceeding the plan by 32%.

Mr. Vu Tien Duong – General Director of PETROSETCO, presenting the overview report on production and business performance in 2025.

In addition, PETROSETCO continued to fully fulfill its obligations to the State budget, with total contributions in 2025 estimated at approximately VND 3.1 trillion. Employees’ income and livelihoods were maintained at a stable level, creating a solid foundation for sustaining engagement and motivation across the workforce.

Notably, all four of PETROSETCO’s core service pillars recorded positive results. Among them, the distribution services segment continued to play a leading role, accounting for approximately 82% of total revenue and more than 50% of the Corporation’s profit before tax. Other segments – including equipment and materials supply, logistics and supporting services, catering, and real estate services – maintained stable operations and growth, contributing increasingly to the overall profit structure.

Alongside its business performance, PETROSETCO continued to be recognized on numerous prestigious domestic rankings, such as Top 39/500 Largest Enterprises in Vietnam, Top 100 Private Enterprises with the Largest State Budget Contributions, Top 100 Sustainable Enterprises (CSI 2025), and Top 10 Private Enterprises in the Distribution and Retail sector. These accolades reaffirm PETROSETCO’s position as one of Vietnam’s leading service and distribution enterprises.

Summarizing the year, Mr. Vu Tien Duong – General Director of PETROSETCO – noted that 2025 witnessed many positive developments, creating an important foundation for the Corporation to enter a new phase of growth. The workforce demonstrated clear breakthroughs, the service ecosystem continued to expand across four core pillars, and digital transformation was accelerated and implemented more deeply. However, amid increasingly intense competition and the operational transformation requirements following PVN’s divestment, PETROSETCO faces significant challenges that necessitate continued organizational standardization, enhanced governance efficiency, and stronger brand development in the new phase.

The year 2026 is identified as both a pivotal period following state divestment and a milestone marking 30 years of development, requiring PETROSETCO to undergo a strong transformation in strategic thinking and operational capabilities. Based on market assessments and growth potential, PETROSETCO has set targets for 2026 of VND 22.567 trillion in revenue and VND 379 billion in profit before tax, ensuring growth aligned with financial safety and sustainable development.

To achieve these objectives, PETROSETCO has defined four strategic foundations for the 2026 period: restructuring associated with smart governance; building a new-generation PETROSETCO brand; enhancing service business capabilities; and developing human resources while fostering PETROSETCO’s corporate culture as a platform for long-term growth.Representing the Vietnam National Industry – Energy Group (PetroVietnam) at the conference, Mr. Tran Hong Nam – Member of the Members’ Council – acknowledged and commended the efforts of PETROSETCO’s leadership and employees for their contributions to PetroVietnam’s overall success in 2025. He emphasized that restructuring and divestment do not signify a “farewell,” but rather a strategic step to create new momentum, enhance autonomy, and strengthen PETROSETCO’s competitiveness. PetroVietnam will continue to accompany PETROSETCO as a trusted partner, maintaining long-term cooperation within the Group’s Industry – Energy ecosystem.

PetroVietnam’s leadership receiving flowers – a heartfelt expression of gratitude from PETROSETCO to the Group for its trust, companionship, and support throughout nearly 30 years.

In his closing remarks, Mr. Phung Tuan Ha – Chairman of the Board of Directors of PETROSETCO – expressed sincere gratitude to PetroVietnam, now the Vietnam National Industry – Energy Group, for its trust, companionship, and support throughout nearly 30 years of PETROSETCO’s development. He affirmed that divestment does not mark the end of this partnership, but rather the continuation of a new, deeper, more diverse, and closer form of cooperation. Highlighting the Corporation’s mission in the new phase, he emphasized that 2026 will be particularly meaningful as PETROSETCO enters a stage of greater self-reliance and proactive operation following the completion of divestment by PetroVietnam. This transition requires PETROSETCO to further leverage its internal strengths, enhance competitiveness, and improve operational efficiency. He also conveyed heartfelt appreciation to all employees, expressing confidence that the spirit of unity and dedication – core values of PETROSETCO – will open new doors of opportunity and aspiration, proving that an autonomous PETROSETCO will not only stand firm, but also advance further, stronger, and more sustainably.

At the conference, PETROSETCO officially launched its new brand identity and logo, embodying a spirit of renewal and new energy aligned with its development aspirations and strategic direction for the next phase – marking a new chapter in the journey of “Strengthening Internal Capabilities – Shaping the Future.”