With 11-month production and business results basically exceeding key targets, Vietnam Oil and Gas Group (PVN) is determined to successfully implement the 2024 management plan and prepare the momentum for the growth target of more than 10% in 2025.
Prime Minister Pham Minh Chinh attended a series of events on Oil and Gas and offshore wind power creating new space in the energy sector of PVN.
On December 12, PVN leaders said that in November, the unit's key production targets exceeded the plan by 1.3-15.1%. Compared to the same period in 2023, 5/9 growth targets including gas exploitation, electricity production, LPG, Condensate, NPK. The Group also exceeded the plan for 6/6 financial targets by 2-57% in November, reaching the target 3-5 months ahead of schedule.
In the 11 months, all targets exceeded the plan by 0.1-17.1%. Compared to the same period in 2023, PVN has 4 growth targets: production of Urea, NPK, electricity, gasoline (excluding Nghi Son Refinery and Petrochemical - NSRP).
Social security work has always been focused on by the Group with a total value of activities reaching 580.6 billion VND, focusing on supporting the construction of Great Solidarity houses for the poor, supporting education and training programs, health care programs, Tet for the poor program in the year of Giap Thin 2024, overcoming natural disasters, storms, floods, etc. In particular, the reconstruction of Kho Vang village (Lao Cai) is being actively coordinated by PVN with local authorities, striving for Kho Vang residents to move into new homes before December 20, recognizing the great significance of the Group's social security activities.
According to PVN General Director Le Ngoc Son, over the past year, all PVN employees have made great efforts in the context of numerous difficulties. Despite complicated oil prices and many fluctuations in the domestic and world economic picture, the Group has managed and operated production and business effectively. In particular, the Group's total revenue in 11 months reached VND 903,843 billion, up 7% over the same period in 2023, aiming to exceed VND 1 million billion; budget contribution was VND 140,473 billion, up 5% over the same period in 2023.
Notably, PVN's consolidated pre-tax profit accounts for nearly 45% of the total pre-tax profit of 19 Groups and Corporations managed by the State Capital Management Committee at Enterprises. In the past 11 months, the Group's investment disbursement value reached VND 29,741 billion, reaching 60.5% of the 2024 plan, up 93.2% over the same period and higher than the national public investment disbursement level (54.8%). These are "telling numbers" about total revenue, profit, investment, and payment to the State budget in the past 11 months and estimated for the whole year of 2024.
In particular, the Group has made significant changes in the energy transition process. Prime Minister Pham Minh Chinh highly appreciated the series of events in oil and gas and offshore wind power of PVN. This process is in line with the Group's scenario of accelerating E&P and other fields to mobilize resources to transition to "green and sustainable", helping the Group develop in the long term with new opportunities.
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Chairman of PVN Board of Members Le Manh Hung. |
In the final days of 2024, PVN is determined to implement the 2024 management plan on revenue, profit, payment to the State budget, and ensure growth in employees' income. In particular, the growth rate of employees' income must be included in the Group's development plan, along with clearly identifying the driving forces to fully exploit growth opportunities.
“To achieve the target of 1 million billion VND in revenue set for 2024 and create momentum for 2025, PVN needs to focus on new driving forces in the energy sector including: electricity, LNG, petroleum, offshore wind power. At the same time, speed up the progress of putting new projects into operation, solve problems at difficult projects to create new revenue and cash flow; improve productivity, capacity, and efficiency of oil and gas activities through innovation and science and technology; actively promote business, international cooperation, take advantage of opportunities and chances for development; promote the building of a culture of urgent and effective work”, Mr. Le Ngoc Son affirmed.
PVN Chairman Le Manh Hung said that, in the face of the forecasted fluctuation in oil prices in 2025, the basis for setting growth targets for next year is to focus on governance. With factories completing maintenance in 2024, this will create the foundation and premise for the Group's production and business activities to be maintained continuously, with room for growth. In addition, removing difficulties and obstacles in institutions and policies will pave the way and create more room for growth for the Group and its member units.
PVN's 2025 plan must set a "double-digit" growth target of more than 10%. Based on planning related data, identifying risks, building corresponding scenarios, and synchronizing the goals of Party Congresses at all levels with the development and growth goals of the Group. Thereby, building and issuing timely and appropriate action plans and programs.
“The biggest driving force in management is the human factor, so the Group needs to focus on accelerating the implementation of arrangement, streamlining, and innovation of the organizational apparatus, improving effectiveness and efficiency to serve the development of the Group in the coming period in order to carry out strategic tasks and create new development momentum in the Group. Human resources play a key role, it is necessary to research and calculate to appoint capable and responsible people, all for the common goal of sustainable development of PVN”, Mr. Le Manh Hung emphasized.
Source: https://nhandan.vn/pvn-chuan-bi-da-tang-toc-cho-muc-tieu-tang-truong-hai-con-so-post849953.html
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