Petrovietnam seeks more partnerships in new materials, energy logistics, mechanical engineering

State giant Petrovietnam wants to expand cooperation in new materials, energy logistics, mechanical engineering, supply of oil-gas equipment and technical services, and defense-related materials.

Deputy general director Le Xuan Huyen made the statement at a conference on Tuesday to review the group's 2025 strategic cooperation agreements with domestic partners.

"Petrovietnam prioritizes partnerships with large domestic corporations such as Vietnam Electricity (EVN), Vietnam Airlines, Petrolimex, and coal mining Vinacomin," he added.

Pham Tuan Anh, a member of the council of members, said strategic partnerships are a key driver to broaden Petrovietnam’s development space and boost its competitiveness.

He called for a stronger focus on trade and industrial services in maintenance, repair, industry, and training; investment in project development; creation of new values and new products/services; and cooperation in R&D and science-technology.

According to a report presented by its strategy department, Petrovietnam has inked strategic cooperation agreements with major domestic corporations in sectors such as energy, industry, logistics, finance, and science-technology.

The partnerships have covered areas including supply chain connectivity, transport and logistics services, gas and electricity supply, fertilizer production, new materials research, and financial investment.

Several agreements have yielded initial positive results, particularly in fuel logistics, petrochemical product development, power and gas supply, investment cooperation, and research on new materials.

Some agreements have translated into tangible activities like market data sharing, supply chain integration, and joint research on industrial-energy investment models, chemicals, fertilizers, and advanced materials.

However, progress on some agreements remains slow, with many still at the stage of information exchange without concrete projects. Some subsidiaries have struggled to develop detailed post-signing cooperation programs, while overlapping interests with certain partners have delayed coordination mechanisms, according to the report.

Petrovietnam plans to develop an eco-energy and industrial center in Can Tho city, the "heart" of the Mekong Delta

The complex is oriented to become an ecosystem of clean energy, green chemicals, and high-tech services, linked with the Mekong Delta region's agricultural advantages.

It is expected that by 2030, Petrovietnam will invest $2.9 billion in projects to produce industrial gas and circular and green products, with a scale of 65 hectares at the O Mon Power Center.

By 2035, it plans to invest $2 billion in projects to supply and distribute gas, build an LNG port terminal, develop a bio-methanol factory etc. on an area of 88 hectares at locations near the O Mon Power Center.

By 2050, Petrovietnam will invest $19.4 billion in renewable energy projects at the Song Hau Industrial Park, the Tran De seaport etc.