PVN has completed many plan targets right in January 2020

PVN has completed many plan targets right in January 2020 - 

According to the information from Vietnam Oil and Gas Group (PVN), the group has exceeded many plan targets right in January 2020 as: the turnover of the group reached 66,300 billion VND (16.2% over the plan), State budget payment – 8,300 billion VND (17% over the plan), oil and gas exploitation with 8.5 % over the plan, producing 147,300 tons of nitrogenous fertilizer (2.5% over the plan) and 1.2 million tons of gasoline (5.3 % over the plan).

The year of 2020 is the 5th year that PVN to implement the Strategy of the Oil and Gas Industry Development in Vietnam to 2025 and orientation to 2035. Therefore, the successful implementation of the 2020 plan will contribute to successfully implementing the objectives and tasks of the 5-year plan (2016 - 2020), that encourages PVN together with the whole country to accelerate economic development, maintain macroeconomic stabilization of the macroscopic economy, continuously carry out strongly economic restructure combining with renewing the growth model, improving productivity, quality, efficiency, competitiveness, ensuring social security, welfare and improvement of people's lives.

Sensing these important issues, although the long holidays of the Lunar New Year fallen to January, all activities of PVN were still maintained normally. Before, during and after the Lunar New Year, security and safety on the petroleum projects are guaranteed, the contractors and member units have implemented seriously the direction of the Group.

The first day after the New Year holidays, the PVN leaders requested all member units to start and focus on implementing the tasks with a determination to successfully complete the plans of 2020, although in the February, PVN will face many difficulties from both domestic and world markets (such as uncertain risks from unpredictable crude oil market, the epidemic disease caused by the Corona virus making travel and transportation demand reduce ...).

To overcome these difficulties, Mr. Le Manh Hung - PVN's General Director requested units to enhance the forecasting activities and proactively cope with market developments in the face of negative impacts of the Corona disease, minimize damage, and takes advantage of opportunities to plan production and market access in a timely and reasonable manner.

On the other hand, to thoroughly implement cost-saving solutions such as reducing management costs, production costs, and selling expenses… for maximizing profits. To carry out reviewing the list of the strategic standby materials, to have solutions to share the strategic materials between the plants with a common technology and producers for maximal reducing inventory supplies, increasing efficiency of capital use; optimally update the technical norms for production operation; consider raising capacity and output on the principle of ensuring safety, stability, efficiency and sustainability.

PVN and its subsidiaries will coordinate focal points, business partners to control market risks, optimize selling products, especially access to markets that they had not penetrated previously to promote competitive advantage in a timely manner.

Right in the early days of 2020, due to the complicated development of Corona virus disease, Vietnam Petrochemical and Fiber Joint Stock Company (VNPoly) has promptly produced and sold 5 tons of fibers (DTY) for producing the mufflers, the Vietnam Petroleum Institute (VPI) has successfully produced antiseptic dry hand sanitizer (bactericidal gel alcohol, VPI-gel). The product has been tested and recognized by the Pasteur Institute of Ho Chi Minh City with its ability to quickly and effectively destroy up to 99.99% of common microorganisms.

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