General Secretary Nông Đức Mạnh urges PetroVietnam to be the country’s leading economic group

The General Secretary stressed that the conversion of PetroVietnam into a national oil and gas group is an important milestone in its 30 years of development, proving the oil and gas sector’s increasing role in the national economy. At the present, after Vietnam’s entry in WTO, the Group should improve its capacity in production, business and competition, the Vietnamese Communist Party leader reminded. He also pointed out that the oil and gas industry should become an important technical and economic sector, with different activities from searching, exploration, exploitation, transport, processing, restoring, distribution, service, import and export. PetroVietnam should strive to develop into a leading powerful economic group engaged in various fields at home and abroad; help to maintain energy security for development, and contribute to the construction of an independent and strong economy.

The General Secretary ordered the Group, apart from exploiting oil and gas potentialities at home, should expand its cooperation in searching for and exploring aboard. In 2007, PetroVietnam needs to take part in speeding up the construction of the Dung Quất Oil Refinery; considering and proposing regimes and policies to attract capital for building some new oil refineries. The leader urged the sector to develop oil and gas services which will account for 25-30% of the total revenue; to train high-skilled staff; to take care of laborers’ life, and to reduce brain drain in the sector.

By Hoàng Nguyên Hồ