Petrovietnam maintains first place in PROFIT500 rankings
The Vietnam Oil and Gas Group (PetroVietnam) continues to maintain its first place on the top 500 most profitable companies in Vietnam in 2022 (PROFIT500) for the fourth consecutive year.
The rankings compiled by Vietnam Report were announced at a ceremony in Hanoi on October 25.
Several subsidiaries of Petrovietnam also occupied high rankings in the list. Among the top 100 companies are Petrovietnam Gas Joint Stock Corporation (PV Gas) at 16th place, Binh Son Refining and Petrochemical JSC (BSR) 22nd, Petrovietnam Fertiliser and Chemicals Corps (PVFCCo) 44th, Vietsovpetro 53rd, Petrovietnam Power Corporation (PV Power) 71st, and Ca Mau Petroleum Fertilizer Joint Stock Company (PVCFC) 75th.
In the first nine months of 2022, Petrovietnam had fulfilled most production and business targets, with four important targets completed ahead of schedule, including contribution to the State budget, thanks to effective risk management.
The brand value of Petrovietnam is constantly increasing year by year. According to Brand Finance, Petrovietnam's brand was valued at US$945 million in 2020, more than double that of 2019.
By 2022, this value increased to nearly US$1.3 billion, maintaining its position among the ten most valuable brands in Vietnam.
The group has a Brand Strength Index (BSI) score of 70.8 and maintains a brand rating of AA.
Petrovietnam is also in the Top 20 of the V1000 list (1000 corporate income taxpayers) in Vietnam in 2021 announced by the General Department of Taxation.
After more than six decades of development, Petrovietnam has grown into a strong economic group with total assets worth over US$40 billion and a workforce of nearly 60,000.