Despite fluctuations in oil prices and market challenges, Petrovietnam still maintains safe and stable operations, exceeding many production and business targets in January 2025.
Despite fluctuations in oil prices and market challenges, Petrovietnam still maintains safe and stable operations, exceeding many production and business targets in January 2025.
This is considered an important step in the pivotal year with the goal of 'double-digit' growth, towards the 50th anniversary of the Group's establishment and Party Congresses at all levels, including the Party Congress of the Vietnam National Oil and Gas Group.
Efforts through Tet, starting 2025 at a high pace
In January 2025, domestic production activities continued to face difficulties, prices of energy products fluctuated with alternating up and down trends. In particular, crude oil prices increased slightly again, gas prices were unpredictable, LNG prices edged up while average refining and petrochemical profit margins decreased compared to the previous month...
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| Launching ceremony to accelerate the completion of Long Phu 1 Thermal Power Plant Project. |
In particular, the 9-day Lunar New Year holiday caused a drop in energy consumption. In that context, Petrovietnam still strived to maintain safe, stable and continuous operations throughout the Tet holiday, exceeding most of its main production and business targets.
Some results of Petrovietnam in January 2025,- Crude oil production reached 0.804 million tons, exceeding the monthly plan by 5.8%;
- Gas exploitation reached 0.458 billion m3, exceeding 7.9% of the monthly plan;
- Nitrogen production reached 164,200 tons, exceeding the monthly plan by 5.1% and increasing by 2% over the same period in 2024;
- Petroleum production (excluding NSRP) reached 594,200 tons, exceeding the plan by 3.6%;
- NPK production reached 32,200 tons, up 39.1% over the same period in 2024.
The Group's key financial indicators exceeded the monthly plan by 13 - 61% and reached the same level as the same period in 2024.
Right from the beginning of the year, the Group issued resolutions and instructions on implementing key tasks and solutions to implement the 2025 plan with the goal of higher growth than the previous year, completing assigned political tasks, and at the same time maintaining its position as a pillar economic group. contribute to the implementation of the country's common goals.
The Group's leaders regularly organize inspections and supervise the progress of key projects and works, and at the same time direct units to strictly comply with safety work, ensuring continuous production operations at the Group's works, factories and projects.
In January 2025, Petrovietnam basically completed and exceeded the assigned targets.
Total revenue of the Group in January 2025 is estimated at VND 77,400 billion, exceeding the monthly plan by 18% and equivalent to the same period in 2024; the total budget contribution of the Group is estimated at VND 10,300 billion, exceeding the monthly plan by 12%, continuing to affirm Petrovietnam's important contribution to the economy.
The total investment value of the Group in the month is estimated at VND 2,300 billion, an increase of 35% over the same period in 2024.
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| Chairman of the Board of Directors Le Manh Hung and leaders of Dong Nai province inspected the progress of the Nhon Trach 3&4 Power Plant project. |
The Group strictly controls the investment progress of projects, especially key projects, and maintains continuous operations during the Lunar New Year holiday. Typically, the overall progress of the Nhon Trach 3 and Nhon Trach 4 Thermal Power Projects is currently over 96%, having fired for the first time with gas on January 11, 2025, and synchronously connecting to the grid at 11:11 a.m. on February 5, 2025 - marking an important milestone in the process of putting Vietnam's first LNG power project into commercial operation.
In addition, with determination and enthusiasm at the beginning of the new year, on January 6, 2025, Petrovietnam held a launching ceremony to accelerate the completion of the Long Phu 1 Thermal Power Plant Project.
At Petrovietnam's member units, business results in January 2025 continued to record positive signals. Specifically, 11 units had high growth in consolidated revenue from 0.4 - 95% and 8 units had growth in consolidated pre-tax profit from 7% to 3 times compared to the same period of the month.
Mobilizing all resources for the pivotal year of "double-digit" growth
Petrovietnam's member units have been striving to find solutions in all areas of operation to complete the February 2025 plan and the Group's annual plan in the coming time. In the Exploration and Exploitation Division, units are actively implementing mine development, increasing reserves; controlling quality, ensuring stable, safe, continuous and effective exploitation operations.
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Petrovietnam General Director Le Ngoc Son inspects the operation of Thai Binh 2 Thermal Power Plant. |
In the gas - electricity - fertilizer sector, PV GAS focuses on investing in developing new projects; PVFCCo strengthens international cooperation in expanding chemical distribution; PVCFC has many positive signals in fertilizer export; PV Power and PVPGB overcome challenges from the market, ensuring maintenance and repair of power plants to always be ready to meet mobilization requirements, especially in the upcoming dry season.
For the petrochemical refining and petroleum product distribution sector, BSR continues to apply solutions to increase capacity, develop new products, increase the proportion of external services to increase revenue, and at the same time focus on the Dung Quat Oil Refinery Upgrade and Expansion Project; PVOIL focuses resources on promoting investment projects associated with the implementation of aviation fuel business activities (Jet A1) and continues to develop electric vehicle charging stations at gas stations, increasing coverage nationwide.
The service sector ensures safe operations, identifies investment as the main driving force to complete the plan in 2025, renews old driving forces, and restructures, in which PTSC participates in many bidding packages for renewable energy projects, and researches the construction of a center (Hub) on renewable energy.
Faced with the challenges of the market context, the entire Group identifies the immediate key task as improving the quality of governance, especially risk management in production and business activities.
In February 2025, the exploration and exploitation sector will focus on solutions to accelerate projects, increase reserves, remove obstacles, and create a premise for the next phase. The petrochemical sector will continue to develop new products, especially green products and energy transition products, creating new momentum to increase revenue.
Similarly, the Gas - Power - Fertilizer Block will continue to optimize production and business activities and focus on increasing revenue. In particular, increasing LNG supply will contribute to increasing revenue in 2025, contributing to the "double-digit" growth target of the entire Group. The Service Block will accompany other blocks in the Petrovietnam ecosystem to support, promote the successes of the past time, and strive to increase the rate of service provision to outside industries and internationally.
Source: https://baodautu.vn/petrovietnam-dat-doanh-thu-khung-ngay-thang-12025-d247245.html
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