Material
Topics
Pioneering the business of petroleum products with low CO2 emissions and environmentally friendly
ENVIRONMENTAL
GRI 11.1 GHG EMISSIONS
On 10th April 2025, Vietnam National Petroleum Group (Petrolimex) became the first large-scale state-owned corporation in Vietnam to be honored to receive a Certificate of Confirmation of Greenhouse Gas Inventory Report according to ISO 14064-1:2018 for greenhouse gas emission inventory activities from the British Standards Institute (BSI).
Direct ghg emissions (scope 1): 137,866.99 tCO2e
Indirect ghg emission from energy (scope 2): 50,127.90 tCO2e
Amount of ghg emission (scope 3): 29,433,469.17 tCO2e
Scope 3 emissions were calculated including indirect GHG emissions related to the use of sold products of the Group (Used of sold Products).
GRI 11.2 CLIMATE ADAPTATION, RESILIENCE AND TRANSITION
Petrolimex has been vigorously researching and investing in green energy sources transition, building and developing a circular economy, focusing on promoting research on new, clean, and environmentally friendly energy projects based on 4.0 technology platforms and comprehensive digital transformation.
Aiming at the goal of “Competing with commodity quality & professional services”, Petrolimex is always a pioneer in providing green, clean and environmentally friendly quality fuel products to customers.
“Green fuel” is free of impurities and meets Euro standards. Currently, Petrolimex provides fuels with the highest emission standards in Vietnam:
- • Biofuel E5 RON 92
- • Standard 5 RON 95 gasoline (RON 95-V)
- • Euro 5 Standard Diesel Oil (DO 0.001SV)
Petrolimex is proud to be the pioneer in providing and refilling sustainable aviation fuel SAF for airlines in Vietnam. Using SAF fuel produces up to 80% lower carbon emissions than conventional aviation fuel, which holds significant importance for the aviation industry.
GRI 11.3 AIR EMISSIONS
The Group’s main sources of emission are petroleum vapors (mainly emitted during the import and export of petroleum) and emissions generated during the transportation of petroleum.
Petrolimex is the only petroleum business unit in the industry applying closed-loading and vapor recovery technology at all 2,898 petroleum stations nationwide.
MEASURES TO REDUCE VOC EMISSIONS
- Application of closed-loading and gasoline vapor recovery technology
- Installation of floating roof and heat-reflective paint
- Automatic level measuring device
GRI 11.5 WASTE
Petrolimex’s industry is petroleum trading, in the field of trade and services, not in the direct production sector, not using input materials, so the amount of solid waste and wastewater at Petrolimex is not negligible.
Petrolimex is always aware of the responsibility in environmental protection, strictly complying with the provisions of the Law on environmental protection through environmental monitoring, collection and management of hazardous waste, and annual environmental protection reports to the Department of Natural Resources and Environment, and the Environmental Protection Sub-Department of localities in accordance with regulations.
100% of waste was classified at source, hazardous waste was specially managed and controlled from classification, storage and transfer with transparent and clear documents.
GRI 11.6 WATER AND EFFLUENTS
Petrolimex’s business lines did not use water as an input material. Rainwater overflow in areas requiring control accounting for a large proportion of wastewater that Petrolimex considered to be oil-contaminated and required to be treated. Oil contaminated wastewater was also generated during the cleaning of gasoline tanks. Currently, Petrolimex has been investing in a wastewater treatment system at petroleum terminals, using unified and standardized technology, meeting discharge standards according to Vietnam’s regulations and approaching the regional and world standards, as prescribed at Project to evaluate and select solutions for drainage and treatment of oil-contaminated wastewater from Petrolimex’s oil depot, which has been approved by the Board of Directors of the Group under Decision No. 108/PLX-NQ-HĐQT dated 27th April 2023.
In 2024, Petrolimex successfully avoided oil spills affecting the surrounding environment.
GRI 11.8 ASSET INTEGRITY AND CRITICAL INCIDENT MANAGEMENT SPILL INCIDENTS IN PETROLIMEX’S OPERATIONS WERE MANAGED BY THE FOLLOWING TASKS
- Control and preventation of oil spills
- Response to Oil Spill
- Public liability and environmental pollution insurance
To manage and prevent oil spills, all terminals and petroleum stations were periodically inspected and reviewed for working conditions of technological systems, tanks, and equipment; equipped with human and material resources that were always ready to respond to oil spills according to the established oil spill response plan.
GRI DISASTER PREVENTION AND SEARCH AND RESCUE
In 2024, storms and tropical depressions not only directly affected the mainland, but post-storm circulation caused widespread heavy rains with high total rainfall during the storm and flood season, causing major floods on rivers in the central region and the northern delta.
Implementing well the motto “4 on-site” in natural disaster prevention and search and rescue, during the 2024 storm season, Vietnam National Petroleum Group successfully completed natural disaster prevention and search and rescue through:
- Minimizing damage to infrastructure at oil and gas facilities affected by storms;
- The whole Group had no human damage caused by storms and floods.
- Ensuring petroleum reserves to serve supply in case ofnatural disasters, especially in remote areas, areas frequentlyflooded, and areas easily isolated by storms and floods.The list and quantity of petroleum reserves for naturaldisaster prevention were sent to the Departments ofIndustry and Trade;
GRI SELECTION OF SUPPLIERS
Besides financial and price requirements, the top criterion prioritized by Petrolimex is the ensured goods sources: The supply sources of petroleum must clearly state the production facility or origin. The quality of goods must comply with Vietnamese regulations or the Group’s requirements and the suppliers must have a reputable track record and experience in the petroleum business, along with a clear sales network or technical infrastructure. Domestic suppliers must ensure compliance with Vietnamese environmental laws and other environmental standards Foreign suppliers are all large suppliers with policies and standards in the field of environmental protection. In 2024, there were no violations of the law or major incidents that seriously affected the surrounding environment.
was provided by the following suppliers:
- Domestically, including Nghi Son Refinery and Petrochemical Limited Liability Company
- NSRP, Binh Son Refining and Petrochemical Joint Stock Company - BRS - accounting for 56%.
- Foreign countries include major suppliers such as Trafigura, ENEOS, Vitol, Total, Petrochina, etc., accounting for 44%
SOCIAL
GRI 11.9. Occupational health and safety
Petrolimex has been always paying attention to medical work. Medical services has been playing a very important role in protecting and improving the health of workers.
Employee participation, consultation, and communication on occupational safety and health (osh).
At units, assigned people (full-time or part-time) to do occupational safety and health work, or established a department to manage occupational safety and health work at the unit facility, ensuring the minimum requirements.
Every year, the member units must establish a Occupational Safety and Hygiene (OSH) plan.
Petrolimex conducts health check-ups for 100% of direct laborers twice a year on a regular basis.
Every year, the units must establish Occupational Safety and Health Plan (OHS).
GRI 11.10. Employment practices
Petrolimex fully implemented policies and regimes for employees according to regulations. Petrolimex signed labor contracts with 100% of employees who are required to sign labor contracts according to the provisions of labor code. Petrolimex fully implemented insurance policies according to labor code such as: Social insurance, health insurance, unemployment insurance, occupational accident insurance, occupational diseases, retirement benefits, maternity benefits, etc.
100% of the companies in the Group build and sign Collective Labor Agreements in accordance with the provisions of labor law and submit them to local management agencies before implementation. The content of the Collective Labor Agreement is encouraged to include provisions that are more favorable to employees.
In 2024, Petrolimex carried out training for 70,710 trainees with a Total number of training hours: 1,545,296 hours and Domestic Training Costs: 118.281 billion VND.
Based on the practical requirements for enhancing the Group’s research and development activities during the energy transition phase and the need for high-quality specialized training for Petrolimex in the digital transformation era, Petrolimex planed to establish a Steering Committee to study the Project for the establishment and investment in the Petrolimex Research and Developing Training Center in the near future.
GRI 11.11. Non-discrimination and equal opportunity
Petrolimex considers people as one of the key factors of success. Petrolimex’s business achievements. Therefore, Petrolimex has been always paying attention to employee policies and regimes, guaranteed salary regimes protect and improve workers’ wages, incomes and lives. Simultaneously, the Group also ensures harmony of interests regardless of basic salary ratio and female's remuneration compared to male's.
At Petrolimex there is no discrimination in employment, with a common goal. build a fair and equal working environment.
GRI 11.18. Conflict and security
At Petrolimex, security personnel are an important part of ensuring security and safety for all activities and participants in the business.
Training security personnel in human rights policies and procedures is an important part of ensuring that they operate within the bounds of the law and ethical principles.
ECONOMICS
GRI 11.14. Economic impacts
Petrolimex comprehensively completed and exceeded the production and business targets for 2024. At the same time, the Group affirmed the core role in stabilizing the market, ensuring national energy security, and contributing to promoting sustainable socio-economic development.
Petrolimex always focuses on developing local human resources, especially at member units across the country. The policy of prioritizing the recruitment of senior management personnel from the local area not only helps increase community cohesion but also contributes to ensuring effective management based on understanding of local culture and markets.
In the context of the Fourth Industrial Revolution taking place strongly, digital transformation has become an inevitable trend, of vital significance to businesses. Petrolimex constantly innovates and applies science and technology to management and operations to improve operational efficiency and provide optimal products and services to customers.
In 2024, Petrolimex continued to increase the issuance of electronic invoices (E-invoices) immediately after each sale demonstrating professionalism in organizing, operating and managing petroleum business activities nationwide. This not only ensured transparency, accuracy and safety but also demonstrated Petrolimex’s pioneering role in meeting the regulations on invoice management according to Decree 123/2020/ND-CP.
Although always proactively seeking imported goods sources that are competitive in price and tax, Petrolimex always gives priority to domestic suppliers. Regarding the task of ensuring sources, Petrolimex always negotiates with domestic refineries to sign product purchase contracts and ensure domestic petroleum supply; stabilizes the petroleum market and ensures national energy security.