Released by Fortune magazine in Singapore, the ranking is a globally recognized benchmark, based on revenue for the 2024 fiscal year. The energy sector continues to play a leading role, accounting for nearly one-third of the list’s total revenue, with Petrovietnam standing out as a key representative of Vietnam’s energy industry.
The Vietnam National Industry - Energy Group (Petrovietnam) secured the 11th position among the largest enterprises in Southeast Asia
This is the first time Petrovietnam has been honored in a regional or international ranking of this scale. Its position among the region’s top enterprises reflects sustained efforts in strategic governance, agile market adaptation, and effective capitalization on opportunities from global supply chain restructuring. The Group has proactively adopted modern management practices and optimized operational efficiency while maintaining its long-term commitment to sustainable development.
Alongside strong leadership, Petrovietnam has consistently upheld its core corporate values, building a high-caliber workforce characterized by professionalism, unity, discipline, and innovation. These foundational elements have reinforced the Group’s internal strength, enabling it not only to maintain domestic stability but also to expand its regional influence.
In 2024, Petrovietnam overcame numerous challenges and exceeded all key performance targets by 6–27%. The Group achieved a record total revenue exceeding VND 1 quadrillion for the first time, contributed VND 165.6 trillion to the State budget, and invested more than VND 38 trillion—an increase of 49% compared to 2023. The Group also advanced its traditional operations, took the lead in offshore energy industries, and, for the first time, integrated into the global energy supply chain—paving the way for new growth frontiers. By year-end, Petrovietnam had fulfilled all financial targets outlined in its 2021–2025 five-year plan, surpassing them by 6–32%.
Petrovietnam’s placement among the top ranks of the Fortune 500 SEA list not only underscores the Group’s pioneering role in international integration but also enhances Vietnam’s position in the regional business landscape. This achievement marks a monumental milestone in the Group’s 50-year journey of growth and transformation.
According to Fortune, 76 enterprises from Vietnam have made their way to this year’s list, with a combined revenue exceeding USD 161 billion and a workforce of more than 1.1 million. Petrovietnam remains one of the key contributors to these national figures, affirming its leadership in Vietnam’s energy sector and its stature as one of the region’s foremost energy enterprises.
The 2025 Fortune 500 Southeast Asia list is the magazine’s second annual release for the region, recognizing the strong ascent of Southeast Asian enterprises as emerging global centers for manufacturing and investment amid ongoing shifts in global value chains.
About Petrovietnam
Founded in 1975, the Vietnam National Industry - Energy Group (Petrovietnam) has a core mission of contributing to national energy security and serving as a major economic pillar in Vietnam’s development. Over the past five decades, Petrovietnam has achieved remarkable and comprehensive growth in both scale and scope. The Group now operates across the entire oil and gas value chain—from exploration and production to gas processing, petrochemical refining, power generation, renewable energy, and high-quality oil and gas technical services.
Petrovietnam has evolved into a key state-owned economic conglomerate with a diversified ecosystem spanning industry, energy, and petroleum. It plays a pioneering role in securing national energy supplies, promoting sustainable marine economic development, adapting to the global energy transition, and pursuing deep international integration—underpinned by its three strategic pillars: Energy, Industry, and Services.