On December 15th, the Vietnam National Energy and Industry Corporation ( Petrovietnam ) and SCG Group (Thailand) signed a Memorandum of Understanding (MOU) to expand the framework of strategic cooperation, aiming for sustainable development of the energy and industry value chain amidst new challenges facing the global industry.
Attending the event were Mr. Nguyen Hoang Long, Deputy Minister of Industry and Trade ; and Ms. Nguyen Thi Kim Ngoc, Deputy Director of the Ho Chi Minh City Department of Industry and Trade. Representing SCG were Mr. Thammasak Sethaudom, Chairman and CEO of the Group; Mr. Sakchai Patiparnpreechavud, Director of SCG Chemicals; and Mr. Kulachet Dharachandra, General Director of Long Son Petrochemical Company Limited (LSP). Representing Petrovietnam were Mr. Le Manh Hung – Chairman of the Board of Directors, Mr. Le Ngoc Son – General Director, other leaders of the Board of Directors and the General Management Board; and representatives of the Group's member units.
Petrovietnam and SCG signed an MOU to expand their strategic cooperation framework.
At the signing ceremony, Petrovietnam General Director Le Ngoc Son emphasized that this cooperation is an important milestone, continuing the long-term partnership built on trust and effective collaboration between Petrovietnam and SCG over the years.
Member units of the Group such as PV GAS, BSR, and PTSC are still closely coordinating with SCG in many key areas such as raw material supply, logistics, technical support, and operations. These practical cooperation experiences are considered a solid foundation for both sides to confidently implement new cooperation contents.
Petrovietnam General Director Le Ngoc Son believes that the signing of the MOUs reflects the long-term vision of both sides in building a strategic partnership.
General Director Le Ngoc Son affirmed that the Group's leadership is ready to cooperate and create favorable conditions for SCG to effectively implement the agreed-upon cooperation contents. He also expressed confidence that the signing of these MOUs will not only open up concrete avenues of cooperation between the relevant units, but also demonstrate the long-term vision of both sides in building a substantive, effective, and mutually beneficial strategic partnership, thereby making a positive contribution to the development of the energy and industrial sectors in the region.
According to the signed MOUs, Petrovietnam and SCG agreed to strengthen comprehensive cooperation, ranging from petrochemicals, chemicals, and LNG to digital transformation, research and development (R&D), advanced materials, and emission reduction initiatives, adapting to the energy transition trend. These are all strategic areas, consistent with the long-term development orientations of both corporations.
SCG CEO Thammasak Sethaudom affirmed that the strategic cooperation between Petrovietnam and SCG is not only an opportunity but also a necessary requirement to enhance competitiveness.
Speaking at the event, SCG CEO Thammasak Sethaudom noted that the signing of the MOUs between Petrovietnam and SCG is taking place against the backdrop of a prolonged downturn in the global petrochemical industry, impacted by weakening demand and a strong increase in capacity in many regions around the world. In this context, strategic cooperation between Petrovietnam and SCG is not only an opportunity but also a necessity to enhance competitiveness, optimize operational efficiency, and strengthen the resilience of the supply chain.
Also at the event, Vietnam Gas Corporation – JSC (PV GAS) and Binh Son Refining and Petrochemical Joint Stock Company (BSR) signed a Memorandum of Understanding (MOU) with Long Son Petrochemical Company Limited (LSP). This cooperation is also expected to create an important foundation for LSP, PV GAS, and BSR to strengthen linkages, leverage the strengths of each unit, contribute to completing the oil and gas - petrochemical value chain, improve production and business efficiency, and enhance the competitiveness of Vietnam's energy industry in the coming period.
The Vietnam National Energy Industry Corporation – Petrovietnam is a state-owned enterprise playing a pivotal role in the national economy, a pioneer in the oil and gas – energy sector, with the mission of ensuring energy security, making significant contributions to socio-economic development and protecting national sovereignty.
Over 50 years of formation and development, Petrovietnam has built a comprehensive and modern energy industry ecosystem, with a total production of 460 million tons of crude oil and 180 billion cubic meters of gas, a total power capacity of 8,229 MW, and operating a series of key national projects ranging from oil and gas exploration, exploitation, and processing to power generation and renewable energy.
With consolidated total assets of nearly US$43 billion and consolidated equity of nearly US$23 billion (2025), Petrovietnam has continuously broken historical revenue records, contributing an average of 12–13% of the total national budget revenue each year, and is a core unit in forming key industrial and energy centers in many localities across the country.
Entering a new phase of development, Petrovietnam is constantly innovating and breaking through, establishing a development model based on three strategic pillars: energy, industry, and services.
Petrovietnam is the only Vietnamese enterprise to possess more than 50 scientific works that have won national and international awards, along with thousands of innovative inventions. Petrovietnam's technique for extracting oil from fractured basement rock is recognized in the world's oil and gas literature as a pioneering extraction method.
vietnam.vn