(Source: Petrotimes) – In the morning of July 4, Vietnam Oil and Gas Group (PVN) and its member companies held a meeting to partially sum up business and production in the first six months of 2013 and set out key tasks for the last six months.
Attending the meeting were members of the Board of directors, the Management board, the Party Standing Committee; leaders of departments and companies under the group. It was chaired by Mr. Phung Dinh Thuc – Chairman of the Board of members and Mr. Do Van Hau – General Director of PVN.
At the meeting, Head of the Planning board of PVN – Mr. Tran Quoc Viet reported the group’s business and production situation in the first six months of 2013. Generally, the whole group has completed the tasks and targets of the plan. Values contributed to the State budget exceeds 16.8% compared to the six-month plan, equivalent to over 11,9 trillion dongs ($570 million), which significantly means in the context of consecutive difficulties of the State budget revenues in the first six months of the year. Oil and gas operations in the East Sea are implemented according to the plan. Return on equity (ROE) of the group continues to remain high (average rate of consolidated net income after taxes reaches 8.4% on shareholders’ equity and 4.3% on total assets).
PVN’s targets in the first six months of 2013
* Increase oil and gas reserve: 16,5 million tons of oil equivalent.
* Total petroleum exploitation reaches 13,64 million tons; In which, crude oil exploitation reaches 8,34 million tons; gas exploitation reaches 5,30 billion m3.
* Produce and supply the national grid with 9,05 billion kWh; 828 thousand tons of fertilizer and 3,27 million tons of different kinds of gasoline.
* Total revenue of all member companies in the group reaches 364,3 trillion dongs.
* Contribute 82,8 trillion dongs to the State budget.
* Contribute 230 billion dongs to social security activities.
Member companies that completed the business and production plan
* Manufacturers: Vietsovpetro, PVEP, PV Power, BSR, PVFCCo all exceeded the plan’s targets.
* 10 companies whose consolidated revenue exceeded 115% of the six-month plan’s target: Vietsovpetro, PVEP, PV Power, BSR, DMC, PVI, PV Trans, PETROSETCO, PVC, DQS and PVMTC.
* 11 companies whose consolidated profit exceeded 115% of the plan’s target: PVEP, PV Gas, BRS, PV Oil, PVFCCo, PVCFC, PTSC, PV Drilling, PVI, PETROSETCO and PV Trans.
* 12 companies whose contribution to the State budget exceeded 115% of the plan’s target: Vietsovpetro, PVEP, PV Gas, BSR, PVFCCo, PVCFC, PV Drilling, PV Trans, PTSC, PVC, DQS and PVMTC.
* 11 companies have highly efficient business and production (average rate of consolidated profit after taxes on shareholders’ equity over 5%): PV Gas, PVCFC, PVFCCo, PVEP, PVDrilling, Vietsovpetro, DMC, PETROSETCO, BSR, PTSC, PV Oil
