PVN pays VND 41 trillion of tax in first 5 months of 2019
In the first 5 months of 2019, the total revenue of the Vietnam Oil and Gas Group (PVN) was estimated at VND 277.8 trillion, and the group paid VND 41 trillion in taxes.
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In terms of oil field development, PVN put into production the Ca Tam oil field on January 25 and the production reached over 1,180 tons/day.
Meanwhile, oil and gas exploitation, electricity generation, fertilizer production and production of oil products all exceeded theset targets. In particular, the target of fertilizer production in the first 5 months reached 563,100 tons, 13.5% higher than the set plan.
Meanwhile, its subsidiaries, such as Vietrsovpetro, PVEP, Rusvietpetro, BSR, PVPower, PVCFC, all enjoyed good production outcomes. Most of the subsidiaries exceed their set financial, business and production targets.
The Group also made regular reports to the State Capital Management Committee, the Ministry of Industry and Trade on results of its business and production as well as difficulties in the implementation of the group-invested projects and asked for the solutions.
The Group is likely to exceed all targets in the first 6 months of 2019, thanks to the efforts of the group and its affiliates in production and business activities.
Particularly, the Group may earn VND 336 trillion, exceeding 8.3% against the 6-month plan and equal to 55% of the year plan, in the first 6 months. It will have paid VND 49.7 trillion in taxes, 7% higher than the 6-month plan and 56.8% of the yearly plan.
