Dear valued shareholders, customers, and partners,

The global economy was going through a year of major challenges in 2022, geopolitical conflict between Russia-Ukraine, prolonged inflation and known as a peak in decades led to tight monetary policies of many countries. The energy crisis in general and petroleum crisis in particular have become so intense which was completely different compared to previous crises due to many factors, especially political issues, Covid-19 pandemic and global economic downturn.

Vietnam is not exempt of this crisis with many changes of domestic petroleum market plus complicated, unusual, large-amplitude and prolonged developments ever in 2022. Many State’s decisions and policies failed to keep up with “different” developments in petroleum markets leading to the fact that the more oil and gas businesses do, the more they lose, and as a result, the partial shortage of petroleum occurred many places nationwide.

As a wholesale trader with largest proportion, Petrolimex always ensures sufficient and timely supply for the local consumption demand, even in a difficult period of local and international supply. At times when Nghi Son oil refinery faced problems and failed to ensure domestic supply, Petrolimex had to seek imported sources, or when other wholesale traders faced difficulties in accessing to supply sources leading to revenue deficit, business reduction and shutdown, Petrolimex strived to ensure petroleum supply at highest level, maintaining 24/7 sale services to timely meet essential demands of people and companies.

In the last 67 years, The Group always accompanies Vietnam’s socio-economic construction and development. Petrolimex always focuses on implementing political missions assigned by the Party and State, contributing to national energy security and macroeconomic stabilization, especially in periods of unpredictable petroleum market developments. In addition, as a large public joint stock company on Top VN30 on HCMC Stock Exchange (HOSE), Petrolimex always complies with Laws of Enterprise, securities laws and related legal regulations, striving to achieve the best business performance, ensuring maximum interests for shareholders.

Based on drastic guideline and policy of BOD plus flexible executive solutions of Board of Directors, the Group in 2022 not only fulfilled its political obligations but also made efforts to achieve optimal business performance in limited conditions and brought the best interests for shareholders, partners and customers with total consolidated revenue of 12.8 billion USD and profit before tax of nearly 96 million USD. In addition, Petrolimex as honored on Top 10 listed companies of the large capital group with Best annual report. Beside annual report, Petrolimex’s sustainability report was listed on Top 10 best reports in the market and a report of “offering the most messages, solutions and commitments toward green energy, net emissions reduction appropriate with Vietnam’s commitments at COP 26”.

In its development orientation till 2030 and a vision to 2045, Petrolimex sets a goal of being a pioneer in Vietnam’s petroleum business market, a leading company in supplying high quality petroleum products, clean and environmentally friendly energy products, maintain its key role in ensuring domestically sufficient supply, meeting demand of energy consumption for local people and economic development, national industrialization and modernization. Besides, Petrolimex continues completing its corporate governance model in accordance with international standards, IT application in operations, human and technology centric approach to become a sustainable enterprise, meeting aspirations of shareholders and investors.

Petrolimex’s leadership believes that with strong internal resources, determination and persistency to achieve the set goals, Vietnam National Petroleum Group will welcome a successful 2023 with many optimistic and positive results. On behalf of the Board of Directors of the Group, I would like to express my sincere thanks to all Petrolimex employees for their dedication in a difficult and challenging year, and to our valued shareholders, customers and partners who have always supported and trusted Petrolimex during the past time.

Wishing you a peaceful, happy and successful new year.