As disclosed by Vietnam Oil and Gas Group (PVN), PVN’s oil and gas output of the first 6 months of 2014 exceeded 11.4% the assigned target, which included domestic crude oil, crude oil exploited overseas and gas at the outputs of 7.55 million tonnes, 0.93 million tonesand 5.39 million tonnes, respectively.
In the first 6 months of 2014, Vietnam Oil and Gas Group gained VND 192.4 trillion in revenue and VND 23.6 trillion in after-taxprofit.
In the first 6 months of 2014, 3 new oil and gas contractswere signed by Vietnam Oil &Gas Group and its member companies.
The gas pipelines operated safely, gas was supplied stably to household consumers; within the first 6 months of the year, 5.26 billion m3 of dry gas were supplied to household consumers, exceeding the set 6-month plan 13.1% and accounting for 56.4% of the year’s plan, 1.5% increase year on year.
Electricity supply in the first 6 months reached 8.44 billion kWh, exceeding the 6-month target 10% and accounting for 54% of the year’s plan.
Phu My and Ca Mau Fertilizer Plants were in stable operation with high performance. Nitrogen fertilizer productivityreached 836 thousand tonnes, 4.4% exceeding the 6-month target set by the Government (2.6% higher than PVN’s 6-month striving plan) and accounting for 54% of the year’s plan set by the Government.
Petroleum productivityof PVN reached 2.46 million tonnes, 16% exceeding the 6-month target set by the Government (14.8% higher than PVN’s 6-month striving plan) and accounting for 53% of the Government’s annual plan.
All financial indicators of PVN in the first six months of 2014 exceeded the plan, consolidated after-tax profit rate / average owner’s equity was 6.5%.
Total revenueof all PVN’s affiliates reached VND 380 trillion, 21.7% exceeding the 6-month target set by the Government (16.4% higher than PVN’s 6-month striving plan, in details,
VND 312.1 trillionwas set in the Government’s planwhile PVNachieved VND 326.6 trillion) and accounting for 57% of the Government year’s plan.
PVN contributed VND 85.8 trillion to the State Budget, 27.2% exceedingthe 6-month target set by the Government and equal to 61% of the year’s plan, 3.3% less year on year.
Total consolidated income of PVN reached VND 192.4 trillion, 15.6% exceeding the 6-month target set by the Government (12% higher than PVN’s 6-month striving plan) and accounting for 54% of the Governmentyear’s plan, equal to last year’s income.
Total after-tax profit of PVN was VND 23.6 trillion, equal to 119% of the 6-month target set by the Government and accounting for 59% of the year’s plan.
The capital intact by 30 June 2014 was maintained at 1.07 folds, ensuring capital safety and development.
PVN’s bank loansand debts/total assets by 30June 2014 increased 0.25 folds, which was safe for PVN’s business, investment and development.
6-month investment value reached VND 35.3 trillion, equal to 79% of the 6-month plan and 35% of the year’s plan.
All affiliates exceeded the production targets, namely, VSP and PVEP, Binh Son, PVFCCoand PVCFCwith exceeding rates of 7%, 18%, 10%, 8% and 1%, respectively.
13 affiliates fulfilling the consolidated income targets(over 110% of the targets) includedVSP with 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%.