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PVI HOLDINGS

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PVI : Overcoming difficulties and challenges, Petrovietnam contributes the highest to the State budget

01/11/2022 | 03:28am EDT

On January 9, 2022, the Ministry of Industry and Trade held a Conference to review tasks in 2021 and implement tasks in 2022 in the form of a direct online combination with the main bridge point in Hanoi and bridge points in 63 provinces and cities. Deputy Prime Minister Le Van Thanh chaired the conference.

Opening the conference, Minister of Industry and Trade Nguyen Hong Dien said that: facing the unprecedented difficulties of the Covid-19 epidemic, together with the whole country, the Industry and Trade has been active, proactive, creative in implementing tasks, solutions to support and help enterprises in production and business, ensure circulation and timely supply of essential goods, promote import, export and have achieved positive results.

Contributing to the overall achievements of the economy, the Industry and Trade sector, under the direct direction of the Government and the Prime Minister, has been active and proactive. Actively and creatively in implementing assigned tasks, completing at the highest level the industry's goals and tasks in 2021.

The oil and gas industry finished ahead of schedule, contributing the highest to the budget with 75.4 trillion VND, exceeding 21% of the plan. The electricity sector has ensured a good balance of electricity for socio-economic development and people's daily life; put into operation 8 power source projects with a total capacity of nearly 4,350 MW. In particular, the electricity price and electricity bill reduction was unprecedentedly large for many customers (5 installments with an amount of nearly 17,000 billion VND). The coal industry has also made great efforts to overcome basic difficulties to complete the 2021 plan target.

Contributing to achieve the GDP growth rate of the whole country in 2022 at 6-6.5%, the Industry and Trade sector strives to achieve the following targets: industrial production index to increase by 7-8%; export turnover increased by about 6-8%; trade balance maintained surplus; total retail sales of consumer goods and services increased by about 7-8%; total electricity produced and imported increased by 7.88%; commercial electricity increased by 7.1-9.1%.

To achieve this goal, the Ministry of Industry and Trade determined to focus on implementing a number of tasks and solutions. In which, urgently developing an action plan and focus on implementing synchronously, drastically and effectively the tasks assigned in the Master Program on Covid-19 pandemic prevention and control; Socio-economic recovery and development program and Resolutions 01, 02 of the Government, contributing to the successful implementation of the programs and tasks nationwide together.

The oil and gas industry implements tasks well, many important targets exceed the plan by 1 to 3 months. Crude oil production reached 10.87 million tons, exceeding the plan by 1.15 million tons; petroleum production reached 6.37 million, equaling 100% of the plan; protein production reached 1.69 million tons, 4.2% higher than the plan; Total revenue in 2021 will reach VND 618,000 billion, exceeding the plan by 26%; payment to the state budget reached 112,900 billion VND, 61% higher than the plan; pre-tax profit reached VND 41,900 billion, exceeding the plan by 145%… In particular, the Deputy Prime Minister highly appreciated that the Vietnam Oil and Gas Group has focused fiercely on finding solutions to remove difficulties and obstacles for projects. slow progress; Typically, Thai Binh 2 thermal power plant has been closely directed in consolidating the entire machine, ensuring financial resources, and promptly handling project implementation procedures. After about 5 months there has been very positive movement.

In addition, enterprises in the oil and gas, electricity, coal and mineral industries, cement, iron and steel... have taken advantage of the closed advantages of the production technology cycle, successfully realizing the dual goal of medium epidemic prevention while maintaining production and business. Industries that were greatly affected by the epidemic, had to stop production due to disruptions in the supply chain of materials and labor, but actively restored production, especially after Resolution 128/NQ-CP dated 11 October 2021 of the Government.

Chairman of PetroVietnam's Board of Directors received the medal for the development of Industry and Trade

Disclaimer

PVI Holdings published this content on 11 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 January 2022 08:27:04 UTC.


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Financials
Sales 2021 486 B 21,0 M 21,0 M
Net income 2021 - - -
Net Debt 2021 - - -
P/E ratio 2021 -
Yield 2021 -
Capitalization 11 126 B 481 M 481 M
Capi. / Sales 2021 22,9x
Capi. / Sales 2022 36,4x
Nbr of Employees 2 605
Free-Float 12,6%
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Spread / Average Target 31,4%
Managers and Directors
Hoa Xuan Nguyen Vice Chairman & Chief Executive Officer
Jens Holger Wohlthat Chairman
Nguyet Thi Bui Independent Director
Thuan Van Bui Director
Danh Thanh Duong Vice Chairman
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