PVEP-NSC, Vietsovpetro, and the contractors successfully erected Panel Row 2 of the WHP-DHN offshore platform's foundation, ensuring absolute safety, quality, and adherence to the construction schedule.The first four months of the year presented many difficulties and challenges from global energy fluctuations. However, closely following the directives of the Party, Government, Prime Minister, and relevant ministries and agencies, Petrovietnam proactively implemented timely response solutions, maintained production and business activities, ensured the safety of the entire system, and contributed to ensuring the supply of energy and fuel for the economy.
The corporation has strived to maintain high, stable, and continuous operation of the two Dung Quat and Nghi Son refineries. Along with boosting exploration and production, Petrovietnam has proactively advised and proposed policies and mechanisms to seek additional crude oil sources, thereby making a significant contribution to stabilizing and meeting domestic fuel demand.
As a result, all six key indicators of the Group exceeded the plan by four months, including crude oil production; gas production; electricity generation; petroleum production (including NSRP); urea production; and NPK production.
A highlight of Petrovietnam's business performance in the first four months of the year is the 14.3% increase in crude oil production compared to the same period in 2025. Specifically in the first quarter of 2026, Petrovietnam's total crude oil production reached 2.63 million tons, an increase of 10.4%; domestic crude oil production increased by 12%.
This is a positive result as Petrovietnam has actively developed and brought new fields into early production, optimizing the output of existing fields through various scientific and technological solutions. In particular, amidst a volatile market due to the Middle East conflict, the Group has ensured the supply of crude oil to domestic refineries, along with the supply of petroleum products, gas, etc., making a significant contribution to market stability and national energy security.
The Nhon Trach 3 and 4 power plants provide a large-scale supplement to the national electricity supply, contributing to increased national electricity production.
The first four months of the year also saw efforts by Petrovietnam's units to maintain production and business operations, and keep the supply chain stable amidst a volatile energy market.
Specifically, Petrovietnam's exploration and production units, such as PVEP and Vietsovpetro, continue to maintain production and optimize capacity while ensuring safety and efficiency, contributing to meeting the crude oil demand of domestic refineries. In the first quarter of 2026, PVEP achieved a total production of 1.08 million tons of oil equivalent, an increase of 136% compared to the same period in 2025. Meanwhile, Vietsovpetro extracted approximately 770,000 tons of oil/condensate and over 10 million cubic meters of natural gas, while also bringing over 210 million cubic meters of gas ashore.
In April, the signing and exchange of documents for the Nam Du field development project, Block 46/07, and the U Minh field project, Block 51, took place between Petrovietnam and its partners.
PVEP-NCS and Vietsovpetro have reached milestones in the Dai Hung Nam field development project; PV Drilling has completed restarting operations and is ready to put the PV DRILLING IX multi-purpose self-elevating drilling rig into commercial operation from April 2026.
Currently, Petrovietnam and its member units are drilling numerous exploration, appraisal, and new well development wells to increase reserves, create a foundation for maintaining stable production in the medium and long term, and strengthen self-sufficiency in supply amidst a volatile and unpredictable global energy market.
In the petrochemical sector, BSR maintains stable operation of the Dung Quat Refinery at high capacity, reaching approximately 124-125% of its average converted capacity. This is the optimal operating level, allowing the refinery to ensure safety while maximizing production to take advantage of favorable market conditions. In the first quarter of 2026, BSR's production reached over 1.99 million tons of various products, making a significant contribution to ensuring domestic petroleum supply, supporting market stability, and maintaining national energy security.
At the same time, BSR, in coordination with PVOIL, is accelerating the implementation of the E10 bioethanol development roadmap, forming a production-distribution chain, ready to widely supply the market nationwide from May 2026.
In the petroleum business, PVOIL's output in the first quarter is estimated at over 1.6 million m³/tons, an increase of 27.7% compared to the same period last year; at the same time, it expanded imports, accepting higher costs to maintain supply. The entire system continued to expand its network with 39 new gas stations, bringing the total number of stations to 988 nationwide.
In the gas industry, PV GAS promptly delivered strategic shipments amidst the market turmoil. A prime example is the LNG vessel FAT'H AL KHAIR, which docked at Thi Vai port on March 10th carrying 63,000 tons of LNG, and the Clipper Vanguard, which arrived on March 20th carrying nearly 38,000 tons of LPG from Australia; contributing to maintaining a stable energy flow and stabilizing the domestic market.
PV GAS, together with EVN and PV Power, has also signed important agreements on LNG supply for large-scale gas-fired power projects, marking a concrete step in the formation of a national LNG supply system, with PV GAS playing a central role in the value chain from import to consumption.
Petrovietnam's Chairman of the Board of Directors, Le Ngoc Son, presided over the May 2026 meeting of the Board of Directors and the Executive Board.
Petrovietnam's Chairman of the Board of Directors, Le Ngoc Son, emphasized that in the context of a volatile energy market, the requirements for the Group are not only to achieve production and business targets, but more importantly, to improve the quality of governance, forecasting capabilities, flexible operational capacity, and accountability at each level.
Given the unpredictable fluctuations in oil prices and international geopolitics, Chairman Le Ngoc Son requested the Executive Board and units to develop multi-level operational scenarios to respond promptly to potential changes, ensuring the Group's production and business operations remain stable and efficient, and to successfully fulfill assigned tasks.
With a spirit of innovative management, decisive leadership, clear responsibilities, and close adherence to reality, Petrovietnam aims to achieve the highest possible completion of tasks in May and the second quarter of 2026, creating a solid foundation for the successful implementation of the 2026 production and business plan, continuing to play a core role in ensuring national energy security and making a significant contribution to the country's economic growth.
AT
Source: https://baochinhphu.vn/petrovietnam-no-luc-dam-bao-chuoi-cung-ung-on-dinh-nguon-cung-xang-dau-102260511161842177.htm