PSNews- The Vietnam Oil and Gas Group (PVN) has exceeded its set yearly targets in terms of revenues, profit and tax-paying by November.
2019 is the fourth year PVN has implemented the 2016-2020 5-year plan part of the Vietnam Oil and Gas Industry Development Strategy to 2025 with orientation to 2035.
With its strong determination, PVN implemented synchronous approaches, focusing on improving the efficiency of its management and creating high consensus among its workers.
According to the group’s reports, PVN’s total revenues of the first 11 months of this year reached 685.01 trillion VND, 11.9 percent higher than its yearly plan. It paid 97.21 trillion VND of tax, up by 11.1 percent from its yearly plan.
In general, the group achieved positive results in all production fields in the first 11 months of 2019.
Particularly, it produced 20.61 billion kWh of electricity or 95.4 percent of the yearly plan, 1.416 million tons of fertilizers equal to 97.9 percent of the yearly plan, and 10.523 million tons of petroleum or 92.7 percent of the yearly plan.
With these positive production results, PVN’s estimated revenues of the first 11 months of 2019 reached 685.1 trillion VND, up by 11.9 percent against its plan for the whole year. According to the group, its revenues of this year may reach 708.5 trillion VND, up by 16 percent compared to its yearly plan.
So far, the group has paid 97.21 trillion VND of tax and may pay some 104 trillion VND of tax by the end of this year.
During the year, PVN continuously promoted scientific and technological research projects and opened a number of training courses for its staff.. It also focused on ensuring security and safety for its oil and gas production activities while enhancing environmental production, labor safety, fire and explosion prevention at its production facilities.
Additionally, PVN often conducted social activities in support of the community, particularly disadvantaged people.
Reports have also show that its subsidiaries, including VSP, PVEP, Rusvietpetro, Bien Dong (East Sea) POC, PVGas, BSR, PVCFC, and PVPower, also completed their set plans. Some of them event exceeded their set targets.
PVN’s outstanding achievements in November 2019:
- PVN successfully organized its 45th Meeting of the ASEAN Council on Petroleum (ASCOPE) in Hanoi. For the first time, PVN has taken the role of Secretary-General of ASCOPE. This has demonstrated extensive integration and positive role of PetroVietnam and its members in the Southeast Asian oil and gas community.
- Vietnam Report announced the VNR500 Profit 500– the list of 500 most profitable enterprises in Vietnam in 2019, in which PVN has topped the list.
- Earlier, Vietnam Report announced the VNR500 – Top 500 largest companies in Vietnam in 2019, in which PVN and one of its affiliates have been listed in the Top 10.
- PVN organized an event to honor workers with high technical skills through the 6th Petroleum Skill Contest in Ba Ria - Vung Tau. The event was participated in by 191 candidates from 12 member units, who were competing in 12 professional categories.
- PVN’s Party Committee held a conference to study and roll out Directive No. 35-CT / TW issued on May 30, 2019 by the Politburo and implemented the plan to organize Party congresses at all levels in preparation for the13th National Party Congress.
- Binh Son Refinery and Petrochemical Joint Stock Company (BSR) that runs Dung Quat Oil Refinery (NMLD) succeeded in processing a number of newly imported crude oil and selling lots of first marine fuel oil product (MFO).
- Nhon Trach 2 Combined Gas Turbine Power Plant of Nhon Trach 2 Petroleum Power Joint Stock Company produced 40 billion kWh of electricity after 8 years of commercial operation, marking an important milestone and contributing to ensuring national energy security.By Thien Minh