In the morning of April 20, the Annual General Shareholders” Meeting of PetroVietnam Fertilizer and Chemicals Corporation – a joint stock company (HOSE: DPM) was held to discuss the 2017 business plan in the context of having a lot ofadvantages but alsofacing many difficulties and, especially, prospectsofinvestment from its projects.
Revenue for Q1 of 2017 reached over 2.000 billion with profit before tax of 275 billiondong.
As judged by the BOMof DPM, in this year, economic and political situations in many countries in the world will continue affecting oil and gas prices, exchange rates, and prices of other materials, and, consequently, domestic product prices through import channel. Also, complex climate and environmental conditions will have impacts on domestic agricultural productions.
PVFCCo built a business plan for 2017 basing on the anticipationthat oil price will be maintained at 50 $US/barrel in 2017. With such an oil price, average gas price is anticipated to be 4.47 $USD/MMBTU, increasingby16% compared to that in 2016.
Accordingly, DPM plans to produce 770,000 tons of Phu My Urea and 13,000 tons of UFC85 in 2017. Consolidated total revenue is anticipated to be 7,743 billion dong, and profit before and after taxes to be 991 billion dong and 823 billion dong, respectively. The Corporation expects to pay dividend at rate of 20%.
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