Hanoi (VNA) - Prime Minister Nguyen Xuan Phuc on January 11 said the Vietnam Oiland Gas Group (PetroVietnam) needs to remain a role model in expanding markets,optimising opportunities, connecting investment, and reviving growth, amongother matters.

Addressing ameeting held by PetroVietnam in Hanoi, PM Phuc tasked the group with building a pure andstrong Party organisation and developing its staff.

PetroVietnam hasthe conditions necessary to create strong brands, he stressed, asking it to handlefive of 12 sluggish projects and eliminate those performing poorly.

A review of theoperational model of certain member companies is urgently needed so as to avoidoverlaps within the group, he said.

The government leader alsosuggested stepping up scientific and technological research and application,utilising new-generation free trade agreements, and boosting cooperation withRussia and other partners.

At the meeting,PM Phuc applauded PetroVietnam’s special contributions to the country’sachievements, affirming that the Party and State have always paid due regard tothe group over the years.

He highlightedPetroVietnam’s performance in exploration and its efforts in removingdifficulties for member companies, helping them regain growth momentum and thrivein the “new normal”.

PetroVietnam hasconducted business activities in tandem with safeguarding national security andsovereignty, he said. It ranks second among State groups and corporations interms of State budget contributions.

The groupadopted drastic, timely action in 2020, including introducing a package of solutionsto cope with the twin crises of COVID-19 and tumbling oil prices.

Thanks to such efforts,it completed many of its annual targets, with total turnover reaching 566trillion VND (24.36 billion USD), State budget contributions hitting 83 trillion VND,and pre-tax profit 17.5 trillion VND, the meeting heard./.