Petrovietnam determined to maintain leading position in efficiency and profit among state-owned enterprises

ANTD.VN - To contribute to the overall growth of the economy, in the coming time, the Vietnam Oil and Gas Group (Petrovietnam) needs to focus on improving its professional capacity and efficiency in management and operations.

In the first 9 months of 2024, Petrovietnam maintained stable production and business activities.

At the end of 9 months, Petrovietnam has maintained stable production and business activities, with projects and factories operating continuously, efficiently and safely, contributing to the Group exceeding its 9-month production targets by 1.3 - 19%. In addition to positive results from production, the Group has fully completed 6/6 financial targets for the whole year 2024 according to the plan assigned by the State Capital Management Committee at Enterprises and the Group's Board of Members (BOM), reaching the target 3-5 months ahead of schedule. Of which, 5/6 growth targets are from 9-31% compared to 2023.

Exchange between Board of Directors and Executive Board of Petrovietnam.

In addition to production and business activities, the Group also devoted a lot of resources to social security activities with a total value of 480 billion VND in the past 9 months. Of which, the budget to support the construction of Great Unity houses for the poor is 95 billion VND; support for education and training programs is 227 billion VND; support for health programs is 52.3 billion VND; support for organizations and association funds is 105.7 billion VND. The Group, along with mass organizations and member units, have actively participated in supporting and promptly assisting local people to overcome the consequences of storm No. 3. Recently, responding to the Prime Minister's call at the program "Warm home for my compatriots", Petrovietnam has donated 150 billion VND to the Vietnam Fatherland Front to support the elimination of temporary and dilapidated houses in localities across the country. In particular, Petrovietnam has urgently and actively coordinated with local authorities in the reconstruction of the entire Kho Vang village (Lao Cai) so that the people of Kho Vang village will soon have a place to live and have a stable life before December 31, 2024.

Chairman of the Board of Directors Le Manh Hung: Absolutely will not let Petrovietnam's leading position in efficiency and profit among state-owned enterprises slip.

Science and technology are the driving force

To solve problems in implementing the planned tasks of the last 3 months of the year and the whole year of 2024 as well as to evaluate and find solutions to "renew old motivations, add new motivations" to develop Petrovietnam, science and technology and research transfer need to become the driving force for sustainable development for Petrovietnam.

In the coming time, the Group needs to focus on evaluating and minimizing unnecessary costs, continuing to improve risk management, identifying risks early to have timely solutions, ensuring good implementation of the plan. Regarding investment, continue to review the whole, focus on solving problems, and promote the progress of ongoing projects.

Petrovietnam's officers and engineers always maintain safe, continuous and effective operations to serve socio-economic development.

In addition, closely monitor safety at construction sites and factories, ensure efficient operations, avoid incidents that disrupt production, affecting the implementation of the 2024 plan; actively participate in contributing to amending legal regulations and decrees related to the Group's operations.

Chairman of the Board of Directors of Petrovietnam Le Manh Hung commented that although positive results have been achieved, in the coming time, the entire Group needs to focus on the driving forces that impact production and business activities, both positively and negatively. In particular, focusing on the driving force of increasing productivity from change, applying scientific and technological research and promoting risk management. Through analyzing and evaluating the trends over the past time, there are more difficulties and challenges for Petrovietnam, so the entire Group needs to focus on improving professional capacity and actual efficiency in management and operation to overcome difficulties and challenges.

Exporting and selling petroleum from PVOIL depot.

“Absolutely not to let Petrovietnam lose its leading position in efficiency and profit among state-owned enterprises, maintain the management plan target, strive to achieve the highest results in the fourth quarter,” Chairman of the Board of Directors Le Manh Hung stated the goal.

To achieve that goal, the Group has found solutions, including focusing on doing a good job of governance and periodic governance control, ensuring proper operation in accordance with policies and objectives, identifying risks and promptly taking preventive measures; maintaining stable and safe operation of mining works, factories, and key projects towards the goal of completing set production targets; continuing to promote the development and application of science and technology to ensure key growth drivers, focusing on building strategies for market and investment drivers.

In the coming time, the whole Group will strengthen risk management, continue to have reports assessing and reviewing the impact of the legal system, policy mechanisms on the operations of the whole Group. In addition, the Group and its units need to focus on cost and risk management, optimization, and cost savings in all activities in building plans for 2025.

Source: https://www.anninhthudo.vn/petrovietnam-quyet-tam-giu-vung-vi-tri-dan-dau-ve-hieu-qua-va-loi-nhuan-trong-doanh-nghiep-nha-nuoc-post592325.antd