Petrovietnam Leads Vietnamese Enterprises, Securing 11th in Fortune Southeast Asia 500 (2026)

At the Fortune Southeast Asia 500 Summit 2026, PETROVIETNAM was honored in 11th position, leading all Vietnamese enterprises. At the event, PETROVIETNAM President & CEO Le Manh Cuong shared strategic insights on safeguarding national energy security, developing human capital, and realizing the Group's aspiration to enter the Fortune Global 500.

On November 3, in Ho Chi Minh City, Fortune Magazine (USA) organized the Fortune Southeast Asia 500 Summit 2026 under the theme "New Horizons – Sustainable Growth." The summit convened over 250 senior executives from leading Southeast Asian and multinational corporations, alongside policymakers, representatives from the Government of Vietnam, and the Ho Chi Minh City People's Committee.

Attending the summit, Mr. Le Manh Cuong, President and Chief Executive Officer of Vietnam National Industry - Energy Group (PETROVIETNAM), delivered pivotal messages as a Featured Speaker during the plenary panel discussion entitled "Powering Growth: Energy Security, Infrastructure, and Electrifying the Economy."

Accordingly, the PETROVIETNAM executive provided in-depth perspectives on the global energy landscape, its implications for Vietnam and PETROVIETNAM, and the Group's strategic development trajectory to safeguard national energy security, fulfill economic expansion requirements, and realize corporate strategic milestones.

PETROVIETNAM President & CEO Le Manh Cuong speaks at the panel discussion "Powering Growth: Energy Security, Infrastructure, and Electrifying the Economy."

Mr. Le Manh Cuong affirmed that soaring energy consumption, supply chain bottlenecks, and geopolitical volatility represent simultaneous challenges confronting Vietnam and numerous global economies. This reality mandates robust strategic solutions ensuring that energy supply remains consistently stable, reliable, and resilient against external shocks.

Presently, domestic oil refineries satisfy approximately 70% to 75% of national petroleum product consumption. However, one of the two refineries continues to depend on imported crude feedstock. When regional conflicts or geopolitical disruptions erupt—such as the recent turmoil in the Middle East—supplies experienced localized interruptions. PETROVIETNAM swiftly mitigated these risks by securing alternative crude supplies, engaging international partners, and expanding feedstock procurement across alternative source nations.

The PETROVIETNAM President & CEO emphasized that systemic resilience against shocks cannot be built overnight. Enterprises must proactively prepare during periods of stability to maintain emergency readiness when crises strike. For Vietnam, energy security is inextricably linked with national security. To sustain double-digit economic growth targets, energy supplies must always remain "one step ahead."

To ensure energy security and support national economic growth targets, PETROVIETNAM maintains its immediate focus on core oil and gas capabilities. Liquefied Natural Gas (LNG) serves as a critical medium-term solution. Concurrently, PETROVIETNAM prioritizes developing emerging clean energy sources. Notably, Vietnam possesses the largest offshore wind potential in Southeast Asia, representing a decisive long-term solution. This is also an area where PETROVIETNAM is focusing strategic expansion, leveraging decades of core marine engineering competencies and offshore operational experience.

Mr. Le Manh Cuong, President & CEO of PETROVIETNAM, speaks in an exclusive interview with Fortune Magazine on the Group's energy development strategy, national energy security, and sustainable growth roadmap.

Currently standing 11th among the 500 largest enterprises in Southeast Asia, PETROVIETNAM is targeting entry into the prestigious Fortune Global 500. This milestone represents both a corporate aspiration and a national expectation. Under this roadmap, Mr. Le Manh Cuong noted that the objective extends beyond merely securing a place on the rankings; more importantly, the journey serves as a catalyst to drive corporate innovation, enhance operational productivity, and elevate global competitiveness. Joining the Fortune Global 500 must be anchored in a new growth paradigm, enabling PETROVIETNAM to generate greater added value and participate deeply in global value chains.

"To achieve global scale, PETROVIETNAM's core strategy is investing in our people. After more than half a century of development, human capital remains our most invaluable asset. Technology and machinery can be procured, but cultivating a team of world-class experts requires 10 to 20 years or longer. PETROVIETNAM firmly believes that every employee possesses the capability to contribute and create new value," Mr. Le Manh Cuong affirmed.

Industrial reality has validated Vietnamese engineering competence in offshore wind. PETROVIETNAM member units have successfully fabricated and exported offshore substations (OSS), jacket foundations, and heavy structural modules for leading global developers. PETROVIETNAM's aspiration to join the Fortune Global 500 acts as a powerful talent magnet, attracting exceptional young professionals by offering opportunities to execute international-scale projects and contribute to the global emergence of a premier Vietnamese corporate brand.

At the summit, PETROVIETNAM was officially honored in 11th position within the Fortune Southeast Asia 500 (2026), leading the 72 Vietnamese enterprises included in the prestigious list. This recognition reaffirms PETROVIETNAM's premier standing within the Vietnamese business community and across the Southeast Asian region.