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PVN pays exceeded 46% of the seven-month plan to the state budget

PVN pays exceeded 46% of the seven-month plan to the state budget - 

In the first seven months of this year, PVN has paid to the state budget VND 61.8 trillion, exceeding 46% of its seven-month plan and equal to 83% of the year's plan.

In the first 7 months of 2018, PVN continued to carry out production and business tasks in the context of a volatile oil and gas market, the world economy sustained many risks, while many difficulties, problems of the Group as well as member units were not resolved in time. However, with the spirit, the highest determination, taking the initiative in building and proposing solutions of implementation, with the concentrated and drastic direction of the Group leaders, solidarity, effort, trying to overcome difficulties of petroleum workers, PVN has completely exceeded the production targets in the first 7 months of 2018.

The successes that PVN has achieved in 7 first months of 2018 are as follows: in July a new petroleum discovery at East White Cat-1X (Block 09-1, Vietsovpetro-VSP) was carried, and the total petroleum output equal to oil was reached 2.04 million tons, exceeded month plan for 15%. In 7 months, the total petroleum output equal to oil was reached 14.48 million tons, exceeded 7 month plan for 4.6% and equal to 63.4% of the year plan, among which oil output in July was 1.18 million tons exceeded month plan for 11.5%, and in 7 months – 8.32 million tons, exceeded 7 month plan for 3.4% and equal to 63.4% of the year plan. In July the total gas output was 0.86 billion cubic meters, exceeded the month plan for 20.1%, and in 7 months – 6.17 billion cubic meters exceeded 7 month plan for 6.2% and equal to 63.0% of the year plan.

In July Fertilizer production reached 142.2 thousand tons, exceeded the month plan for 6.1%, in 7 months - 969 thousand tons exceeded the 7 month plan for 4.5%, and equal to 63.0% of the year plan.

In July gasoline production reached 975 thousand tons, exceeded the month plan for 3.0%, among which Nghi Son Refinery reached 391 thousand tons, Dung Quat Refinery – 539 thousand tons. In 7 months gasoline production reached 4.85 million tons exceeded the 7 month plan for 6.0%, and equal to 41.2% of the year plan.

In July, all kind fiber production reached 200 tons. If calculating from 20/4/2018 (the time to put three production lines of Dinh Vu fiber factory into production) up to now fiber production reached 640 tons. Fiber sale up to 24/7/2018 reached 246 tons with a turnover of VND 9.5 billon. In August, it is expected to produce 265 tons of DTY fiber.

Regarding to power generation, in July due to favorable hydrological situation EVN mobilized low output of PVN power plants (Ca Mau 1 - 81%, Nhon Trach 2 - 86%, Vung Ang 1 – 65% ), power generation of PVN reached 1.68 billion kWh equal to 90.4 % of the month plan. In 7 months power generation of PVN reached 13.48 billion kWh exceeded 7 month plan for 3.0%, equal to 83.0% of the year plan.

Relating financial targets, in 7 months the total turnover of the PVN reached VND 332.2 trillion, exceeded the 7 month plan for 26% and equal to 56% of the year plan. The PVN payment to the state budget was VND 61.8 trillion, exceeded the 7 month plan for 46.0% and equal to 83% of the year plan. The total profit after tax for 7 months reached VND 17.8 trillion, exceeded the 7 month plan for 32.0% and equal to 94% of the year plan.

It is remarkable, that on 24/7/2018, in Hanoi, PetroVietnam Petrochemical and Petroleum fiber Joint Stock Company (PVTex) with An Phat Joint Stock Holdings company (APH) and An Son Synthetic Fiber Joint Stock Company signed an agreement on cooperation to outwork DTY fibers of Dinh Vu fiber fabric. In coming time, PVTex and APH will co-operate to launch and operate the DTY spinning line in Filament workshop with the aim of operating all of these lines by the end of Q4/2018. At the same time, the parties are also actively negotiating the contract on cooperation to operate the whole plant with the aim of soon completing the negotiation and signing the contract.

With the extremely open potential of polyester fiber market, the cooperation between PVTEX and APH Group and its member units it is expected that the fiber market will have a clear perspective and contribute to bringing the fiber product of PVTEX to the new heights and affirm the position of polyester fiber in Vietnam. The fact of signing DTY contract is significant in the whole route of PVTEX. At the same time, it opened a new cooperation website in the producing and trading fiber products at home and abroad.

Especially, on 31/7/2018, in Hanoi, PVN signed the agreements for developing Sao Vang - Dai Nguyet project (Lot05-1b&c), as in detail: signing Gas Purchase Agreement (GSPA) between PVN and Lot Owners 05-1b & 05-1c, agreement on connection (TSA) between the owners of the lots 05-1b & c and PV GAS; Gas Sales Agreement (GSA) between PVN and PV GAS with Sao Vang - Dai Nguyet project (Block 05-1b & c). The success of exploiting the Sao Vang - Dai Nguyet gas project will contribute an important part in ensuring energy for the country.

VietnamEnergy.vn

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