Result 2018:
13.97

Crude oil
Million Tons

10.01

Gas exploited
Billion M3

170

Electricity
Billion KWhs

1.63

Fertilizer
Million Tons

9.34

Petroleum
Million Tons

First 6 months of 2019: PVN contributed 53.3 trillion dong to the State budget

On 17th July in Hanoi, Vietnam Oil and Gas Group (PVN) organized a Conference on Preliminary Summary of the Party building work, production and business activities in the first 6 months and deployment of tasks in the last 6 months of 2019.

According to the Report presented by Vice President Nguyen Xuan Hoa at the Conference regarding the implementation of business plan for the first 6 months and the last 6 months of 2019, PVN has basically fulfilled the targets and tasks for the first 6 months of the year.

Specifically, exploration work has been implemented according to the plan; electricity production  in six months is 11.52 billion kWh, exceeding 246 million kWh (approximately 2.2%) compared to the six-month plan, equaling 53.3% of the year’s plan; fertilizer production in six months is 705.8 thousand tons, exceeding 71 thousand tons (approximately 11.2%) compared to the six-month plan, equaling 44.8% of the year’s plan; petroleum production in six months is 5.66 million tons, exceeding 48 thousand tons (approximately 0.9%) compared to the six-month plan, equaling 49.8% of the year’s plan. 

PVN Vice President Nguyen Xuan Hoa presented the Report on the implementation of business plan for the first 6 months and plan for the last 6 months of 2019.

Besides over-fulfillment of the production targets, PVN has also fulfilled the financial targets with the total revenue of 365.5 trillion VND in the first 6 months, exceeding 18.0% compared to the six-month plan, equaling 60% of the year’s plan. The Group has contributed 53.3 trillion dong to State budget, exceeding 15.0% of the six-month plan and equaling 61.0% of the year’s plan.

The work of safety and 24/24 hours guard maintenance on holidays has strictly implemented by the oil and gas contractors and units; communication work has been maintained smoothly, all units under the Group has kept the normal pace of production and business.

In order to overcome difficulties, complete the task of 2019, the whole Group will focus on implementing drastically and synchronously solutions to limit difficulties and risks, striving to over-fulfill all production targets of 2019 with the focus on 8 groups of general solutions as well as specific solutions for each field.

PVN President and CEO Le Manh Hung delivered speech at the Conference

Recognizing the comments and suggestions of member units in removing difficulties and obstacles in production and business activities, PVN President and CEO Le Manh Hung requested the Divisions of the Group and its member units to review and promptly resolve outstanding issues, urgently build and perfect the risk management project, build and perfect the business management model in the new context. 

PVN Chairman of the Board of Directors Tran Sy Thanh made speech to conclude the Conference

Giving conclusion at the Conference, Mr. Tran Sy Thanh once again emphasized the results achieved in the first 6 months of Vietnam Oil and Gas Group are remarkable. In terms of professional issues, Chairman Tran Sy Thanh asked to re-evaluate if the difficulties and challenges facing the Group in the first 6 months of the year is true to the forecast. Especially, it is necessary to build and soon complete the management model, implement the decentralization of management to accelerate the speed of work handling, proceeding to build a management model of international standard. Priority should be given to resolving issues related to regulations to solve difficulties for PVN and its subsidiaries.

Exploration & Production