Result 2019:
13.09

Crude oil
Million Tons

10.20

Gas exploited
Billion M3

22.54

Electricity
Billion KWhs

1.577

Fertilizer
Million Tons

11.500

Petroleum
Million Tons

Petrovietnam achieves total revenue of over 560 trillion dong, making important contribution to GDP growth

With the over-fulfillment of most production targets, Petrovietnam has made important contributions to the GDP growth of 6.98% in the first 9 months of the year.

At the end of the third quarter, basically the Group continues to fulfill the targets and tasks set out in September and the first 9 months of 2019, most of the production targets were over-fulfilled. In particular, fertilizer production in the first 9 months of 2019 is 1.10 million tons, exceeding 8% of the plan and equaling 76.6% of the year plan; Electricity production in the first 9 months of 2019 is 16.42 billion kWh, exceeding 4.3% of the plan and equalling 76% of the year plan; Petrol and oil production in the first 9 months of 2019 is 8.99 million tons, exceeding 5.6% of the plan and equaling 79.2% of the year plan.

Financial targets of Petrovietnam in the first 9 months of 2019 such as total revenue and contribution to the State budget exceeds the set plan. The total revenue of Petrovietnam in September 2019 is estimated at 61.4 trillion dong, exceeding 9.5% compared to the plan of September; and the amount of 9 months is estimated at 560.6 trillion dong, exceeding 12% of the 9-month plan and equaling 92% of the year plan. 

Petrovietnam’s contribution to the State budget in September 2019 is estimated at 8.7 trillion dong, exceeding 16.4% of the September plan; the amount of 9 months is estimated at 78.5 trillion dong, exceeding 11.1% against the 9-month plan and equaling 89% of the year plan.

Capital preservation ratio as of 30th September 2019 is 1.01 times, ensuring capital safety and development. Profit/ dividends shared from member units as of 24th September 2019 equals to 92% of the year plan. 

Notably, by the end of September 2019, four units of Petrovietnam, i.e. Rusvietpetro, PTSC, PV GAS, and PVTrans have over-fulfilled financial targets of the year.  

Highlights of Petrovietnam and its members in September 2019:

1. From innovating, improving the efficiency of corporate governance, Petrovietnam has been ranked BB+ by Fitch Ratings - the world's leading rating organization. 

2. Petrovietnam continues to hold the leading position in the Top 500 Vietnam's most profitable enterprises in 2019 by Vietnam Report. 

3. The Government assigns the Minister of Industry and Trade to take the main responsibility, the Chairman of the State Capital Management Committee in enterprises to take responsibility for related issues in solving difficulties for key projects such as Long Phu 1, Song Hau 1, Thai Binh 2... to ensure the completion schedule.

4. Vietsovpetro has successfully loaded-out the topside of BK-20 platform of Bach Ho field. Many important items of this project has been designed, procured and manufactured by Vietsovpetro's subsidiaries. 

5. Vietsovpetro won a high prize at the “Seventh Competition on Science and Technology for Young Professionals” in Russia.

6. Petrovietnam won the second prize for the whole team in the National Occupational Safety and Sanitation Workers Contest 2019.

7. Ca Mau Fertilizer Plant has completed the overall maintenance in 2019, officially operating again and ready to serve the fertilizer demand for the Winter-Spring crop. 

8. Binh Son Refining and Petrochemical Joint Stock Company is the leading enterprise in the petroleum services industry in terms of financial management capacity in 2018. 

9. Mechanical engineering services for oil and gas drilling rig manufacture meet international standards, domestic and export demands. 

 

Exploration & Production