PVOIL appoints a new chairman, targets 30% profit growth; VinFast charging stations to be deployed at gas stations.

On the morning of April 24, Vietnam Oil and Gas Joint Stock Corporation (PVOIL, ticker: OIL) held its annual general meeting of shareholders to announce 2025 business results and development directions for the coming period. Accordingly, the company set a target for consolidated revenue of 150,700 billion VND and after-tax profit of 656 billion VND. This profit target represents a 30% increase from the results achieved in 2025. One significant leadership change is that shareholders approved the appointment of Mr. Duong Manh Son as Chairman of the Board of PVOIL. Prior to this role, Mr. Son was Deputy General Director of PetroVietnam, holding a Master of Business Administration and a Mechanical Engineering degree. New Chairman Dương Mạnh Sơn (second from left). The leadership reshuffle comes as the company prepares for changes in revenue structure. PVOIL's revenue sources in 2026 are expected to include Jet A1 aviation fuel. After a pandemic-related interruption, the company has restarted the project and was officially granted a license for the dedicated unit in December 2025. PVOIL is investing in trucking and transfer hub systems meeting technical standards at airports. According to the roadmap, the PV Aviation Energy brand will complete operating conditions in Q3 and begin recognizing revenue from this segment by the end of this year. Beyond traditional gasoline, the non-fuel services segment, specifically the electric-vehicle charging infrastructure partnership with VinFast, is becoming a new growth driver. By the end of 2025, PVOIL operated 950 gasoline stations, of which more than 500 have integrated charging points. Company leadership says the charging network is operating effectively, contributing 20-30% to the profits of the member units. The goal is to maintain at least 100 new gasoline stations per year and to cover charging at about 50-60% of the nationwide network. Regarding the listing roadmap, management said the company is expected to meet conditions to move from UPCoM to HoSE in 2027. At present, the company has largely addressed audit issues except for those in the financial statements. In 2025, issues related to the investment in Phu Tho Petrochemical and Biodiesel Company were addressed to clean financial data and prepare for an official listing. Looking back at 2025 results, PVOIL achieved consolidated revenue of 151,640 billion VND, surpassing 56% of the annual plan. Notably, PVOIL Singapore's international oil business contributed 60,000 billion VND, representing 39% of total system revenue. Consolidated pre-tax profit reached 654 billion VND, up 3% year-on-year.