PVN pays VND 53,000 billion of tax in first half
Vietnam Oil and Gas Group (PVN) on July 17 organized a meeting to review its operation in the first half of 2019 and roll out its plans for the second half.
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Reports at the meeting showed that PVN has fulfilled all targets of the first 6 months of 2019.
Particularly, its oil and gas exploration has been carried out according to the set plan; its electricity production reached 11.52 billion kWh, up by 246 million kWh or 2.2% from the first half objective while its petrol and oil production reached 5.66 million tons, 48,000 tons (or 0.9%) higher than the six-month plan.
PVN’s total revenue reached 365.5 trillion VND (US$15.8 billion) in the first half of this year, 18% above its first half plan. PVN paid 53.5 trillion VND ($2.31 billion) of tax, 16% exceeding its target, and equivalent to 61% of the year’s target.
Speaking at the event, representatives from PVN’s subsidiaries discussed several difficulties and obstacles to their business and production activities, and proposed the solutions and recommendations to relevant ministries and Central branches. They underscored that these solutions would help them complete their 2019 targets and plans, as well as ensure a stable and sustainable development of their business and production in the following years.
Speaking at the meeting, CEO Le Manh Hung asked PVN and its subsidiary units to always grasp the situation and make precise forecasts in the context of adverse developments in the country, region and the world while promptly completing their schemes on risk management and a corporate governance model.
Chairman of the PVN Board of Directors Tran Sy Thanh asked all subsidiary units to re-evaluate the difficulties and challenges that they had faced in the first 6 months of the year in comparison with their forecasts made earlier.
He also highlighted the significance of building and completing a decentralized management model, meeting the international standards.
