In August 2019, PVN continued to carry out the targets and tasks of production and business in the context the world economy had many changes; trade tensions as well as geopolitical fluctuations in many areas negatively impacted the global and domestic economic picture; the oil and gas market fluctuated sharply. However, with the spirit of “being steadfast and brave to overcome challenges”, PVN has successfully fulfilled the targets and tasks set out in August and the first 8 months of the year.
Saluting the national flag on Hai Thach – Moc Tinh project
In particular, following the peak of political activities to celebrate the 60th anniversary of Vietnam Oil and Gas industry to implement Uncle Ho's wishes (23rd July 1959 - 23rd July 2019), activities to celebrate 44 years of the Group’s establishment day (3rd September 1975 – 3rd September 2019) took place vigorously and widely from the Group to the units, bringing an atmosphere of excitement and arousing the pride of the oil and gas workers, continuing to promote the tradition of “Fire Seekers”.
Therefore, in the context the average crude oil price in August is 58.62 USD/barrel, a deep decrease compared to the planned price of 65 USD/barrel in 2019, with the highest determination in giving direction for operation, most of the Group's production targets were over-fulfilled, some targets exceeded 13% of the plan.
The Group's financial targets in August and the first 8 months of 2019 (total revenue, contribution to the State budget) have exceeded the set plan, in which: total revenue of the Group in August was estimated at 55.4 trillion dong, exceeding 15% of the month plan; accumulated revenue of 8 months was estimated at 489.5 trillion dong, exceeding 19% of the eight-month plan and 80% of the year plan. The Group contributed 7.83 trillion dong to State budget in August, exceeding 3.0% of the month plan; accumulated contribution amount of 8 months was estimated at 68.9 trillion dong, exceeding 14% of the 8-month plan and equaling 78.8% of the year plan.
PetroVietnam Ca Mau Fertilizer Joint Stock Company began to perform a contract to export 47,500 tons of cargo to India in August 2019.
Investment projects of the Group and its subsidiaries were strictly controlled. The Group regularly reported to its superior on the progress, difficulties and problems in order to timely have solutions to remove and support the Group in implementation. Social security activities were implemented according to commitments.