On May 7, 2021, at the Phu My Fertilizer Plant, the delegation of Vietnam Oil and Gas Group (Petrovietnam) led by General Director Le Manh Hung directly inspected the overall maintenance PVFCCo on the implementation of tasks, plans for 2021, development strategy of PVFCCo.

The work program is organized to meet COVID -19 epidemic prevention requirements, taking place directly at Phu My Fertilizer Plant and online between Hanoi and Ho Chi Minh City. Attending the meeting in Hanoi were Petrovietnam Deputy General Director Le Xuan Huyen, Nguyen Van Mau, and leaders of the Group's professional boards.

From PVFCCo side, Mr. Hoang Trong Dung, Chairman of the Board of Directors; Mr. Le Cu Tan - General Director with the Board of Directors, Board of Directors, Supervisory Board, leaders and representatives of departments/offices, Phu My Fertilizer Plant.

The Mission visited and checked the maintenance of Phu My Fertilizer Plant

On behalf of the Board of Directors, the General Director of PVFCCo, Mr. Le Cu Tan, gave a general report on implementing the business plan in 2021, project implementation, overall maintenance, and PVFCCo's updates and development strategies.

In general, in the first 4 months of 2021, PVFCCo's production and business activities performed well, exceeding most of the assigned targets and growing compared to the same period in 2020, implementing overall maintenance 2021. Phu My Fertilizer Machine is implementing, and following the schedule, the implementation of projects has many bright and positive spots. Regarding production, reaching about 306 thousand tons of chemical fertilizers of all kinds, sales reached about 382 thousand tons of chemical fertilizers of all kinds. This is a very exciting result in the challenging context of volatile markets, broken logistic chains, a recurrence of COVID -19... The result comes from the attention and close direction of PVFCCo's collective efforts, prestigious brand, deep and extensive distribution system, making good use of business opportunities, implementing many solutions to save production costs, sales costs, and took advantages of the raw gas source is always guaranteed, fertilizer prices are in an uptrend ...

PVFCCo also stated that production and business activities in the near future will still face many difficulties and unpredictable risks due to the decline in Urea prices in some key markets around the world; Acid raw material prices for NPK continued to rise higher than planned due to supply breakdown and logistics problems; oil prices rose compared to the plan as the global value chain was gradually reconnecting; epidemic diseases are unpredictable, potential risks of social dislocations. On that basis, PVFCCO has come up with solutions to boost business, implement the last 8 months of the year plan, such as flexibly managing selling prices, ensuring competition, and encouraging distributors to buy goods before the season in large quantities. ; moderation in each area to ensure a balance of supply and demand, avoid partial excess-shortage when in season; taking the opportunity of a price increase to increase sales volume, striving to achieve business output 1-2 months earlier than planned in order to prevent the scenario of market decline at the end of the year; to expand the fertilizer consumption market, looking for new partners to consume chemical products; continue to control product quality well before being circulated in the market, especially with NPK products; reducing selling and management costs ... In addition, PVFCCo has been focusing on reviewing/updating the corporate governance model according to the new situation, in which, attaching importance to volatility management and risk management. Research and development to have 1 product to complete and put into commerce each year.

The Corporation's leaders report on the maintenance situation of Phu My Fertilizer Plant

Regarding the implementation of overall maintenance 2021, Phu My Fertilizer Plant: starting on April 18, 2021, the total time to stop the machine is 33 days, scheduled to end of overall maintenance on May 20, 2021. The overall maintenance work has been carried out according to progress, ensuring safety, ensuring quality during maintenance, and improving the plant's operation after maintenance. PVFCCo has a detailed plan to process technology and maintenance schedules to control progress to shorten machine downtime.

With the response to the COVID-19 epidemic, PVFCCo has proactively prepared plans to respond to the evolution of the COVID-19 epidemic, promptly issued a directive on compliance with preventive measures. Anti-epidemic with prevention plans, guidance on the welcoming of experts; Experts are arranged to eat and stay to ensure strict epidemic prevention; has reviewed and equipped sufficient numbers of drugs and medical equipment for epidemic prevention work in medical equipment; regularly update and propagate the COVID-19 epidemic situation to factory staff and contractors; has disseminated plans for security, safety, epidemic prevention to maintenance teams, contractors involved in maintenance, signed commitments to comply with plans; set up the quarantine inspection team to check continuously 2 times/day...

Chairman of the Board of Directors of PVFCCo - Mr. Hoang Trong Dung and PVFCCo Board of Directors also reported, presented additionally, and clarified the situation of implementing the 2021 plan, the 5-year plan 2021-2025, and the development strategy of PVFCCo. ; source and price of gas for fertilizer production; implementation of projects, efficiency, quality of operation of the plant after maintenance ...

At the meeting, Petrovietnam's General Director Le Manh Hung, Deputy General Director of Petrovietnam Le Xuan Huyen, Nguyen Van Mau, and leaders of the professional boards together with PVFCCo leaders discussed and clarified reports, difficulties, problems, and recommendations of PVFCCo.

Phu My Fertilizer Plant's employees ensure epidemic safety during the maintenance of Phu My Fertilizer Plant

Addressing at the meeting, Petrovietnam General Director Le Manh Hung shared the Group's information and results for the first four months of the year. Accordingly, the business targets and plans were all completed and completed. On behalf of the Group's leaders, General Director Le Manh Hung acknowledged and highly appreciated the results achieved in the first four months of the year of PVFCCo to exceed the plan and effectively manage. The General Director of Petrovietnam thanked the team of employees and managers who have made great efforts in all fields and fields and fulfilled essential targets in this complicated situation of Covid.

Regarding the work of overall maintenance, after inspecting the work on-site, Petrovietnam General Director Le Manh Hung shared his joy when PVFCCo managed the maintenance work well and closely. Mr. Le Manh Hung also asked PVFCCo to focus on control progress and finish overall maintenance to put the plant into operation. After completing overall maintenance, Mr. Le Manh Hung noted that the PVFCCo Board of Directors must synchronize the plant operation plan with gas supply and product consumption.

The General Director of Petrovietnam also noted that the impact of the COVID epidemic is increasingly complicated and difficult to control; PVFCCo must proactively forecast, strictly control, not be passive, safe in disease conditions. At the same time, urgently update the fertilizer, chemical market, epidemic situation, adjust business plans, find opportunities within ability, make forecasts and solutions to complete the plan, especially urea production ...

PVN General Director Le Manh Hung inspects the overall maintenance of Phu My Fertilizer Plant

In the long term, Petrovietnam's General Director emphasized that the PVFCCo Board of Directors needs to look broader and further assess challenging opportunities, risks, gas resources and gas prices, risks of the plant's age, risks. The risk of energy shifts, gas energy demand, is very high, pushing up long-term gas prices; business environment risks, competition from abroad ...

Petrovietnam's General Director paid particular attention to PVFCCo on business model restructuring associated with digital transformation, investment portfolio management, asset management, port, and material warehouse revaluation planning. , reviewing and speeding up chemical projects.

Petrovietnam's General Director believes that PVFCCo will exceed the planned targets for 2021, creating the foundation for 2021-2026, maintaining its position as the critical unit of the Group.

On behalf of the Board of Directors of PVFCCo, Chairman Hoang Trong Dung expressed his sincere thanks to the Group's attention and the Group's leaders, seriously absorbing and implementing the notes and directions of the Group's leaders, as well as committing to sufficiently fulfill the plans and tasks for 2021 and the following years.
 

10/05/2021
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