( Source: Bizlive )

According to PetroVietnam Oil and Gas Group (PVN), in the first 6 beginning months of 2014, oil and gas production exceed the assigned target by 11.4%. Previously, domestic crude oil production was 7.55 million ton; foreign crude oil exploitation was 0.93 million ton; and gas production was 5.39 million ton.

In the first 6 beginning months of 2014, PetroVietnam Oil and Gas Group achieved total revenue of 192.4 thousand billion dong and after-tax profit of 23.6 thousand billion dong.

Also in the first half of the year, PetroVietnam Oil and Gas Group and its subsidiaries registered 3 new petroleum contracts.

Gas transmission pipelines were operated safely to ensure stable gas supply to consuming households, and in 6 beginning months, domestic consumption supply was 5.26 billion m3 dry gas, an increase of 13.1% compared to 6-month plan and reaching 56.4% of annual plan, increasing 1.5% compared to that in the same period in 2013.

Power supply in the first 6 months was 8.44 billion kWh, an increase of 10% compared to 6-month plan and reaching 54% of annual plan.

Phu My Urea and Ca Mau Urea Plants were operated stably with high capacity. Urea production was 836 thousand ton, an increase of 4.4% compared to 6-month plan assigned by the Government (2.6% compared to 6-month target of the Group), and reaching 64% of annual plan assigned by the Government.

Total oil and gas production of the Group was 2.46 million ton, an increase of 16% compared to 6-month plan assigned by the Government (14.8% compared to 6-month target of the Group), and reaching 64% of annual plan assigned by the Government.

Financial indicators of the Group in the first 6 months of 2014 successfully exceeded the planned figures: average ratio of consolidated after-tax profit to owner’s equity was 6.5%.

Total revenue of all subsidiaries of the Group was 380 thousand billion dong, an increase of 21.7% compared to 6-month plan of the Government (16.4% compared to 6-month target of the Group – The Government assigned the planned figure of 312.1 thousand billion dong and target of the Group was 326.6 thousand billion dong) reaching 57% of the Government"s annual plan.

The Group"s payment to the State Budget was 85.8 thousand billion dong, an increase of 27.2% compared to 6-month plan of the Government and reaching 61% of annual plan, a decrease of 3.3% compared to that in the same period in 2013.

Total consolidated revenue of the Group was 192.4 thousand billion dong, an increase of 15.6% compared to 6-month plan of the Government (12% compared to 6-month target of the Group) reaching 54% of annual plan of the Government, equaling that in the same period in 2013.

Total consolidated after-tax profit of the Group was 23.6 thousand billion dong, equivalent to 119% of 6-month plan of the Government and 59% of annual plan.

Capital adequacy ratio as of June 30th, 2014 was 1.07 assuring the safety and development of capital.

Bank debt and borrowing to total assets ratio as of June 30th, 2014 was 0.26 assuring the safety of operating activities and development investment of the Group.

Realized investment value in the first 6 months was 35.3 thousand billion dong or 79% of 6-month plan and 35% of annual plan.

All of production units reached or over-performed the planned targets, including: VSP and PVEP (7%); Binh Son (18%); PVPower (10%); PVFCCo (8%); and PVCFC (1%).

Total consolidated revenue of 13 units increased by 110% of the plan, including: VSP (19%); PVEP (16%); Binh Son (38%); PVPower (17%); PVGas (17%); PVDrilling (41%); PTSC (39%); PVI (14%); Petrosetco (14%); PVTrans (20%); DMC (34%); VPI (106%); and PVC (49%).

 

22/07/2014
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