In the coming time, the oil and gas industry will continue to face many difficulties and challenges when the world economy recovers slowly and consumer demand declines; Geopolitical conflicts push up raw material and transportation costs… To maintain stable production, Vietnam Oil and Gas Group (PVN) and its member units have developed solutions to promote production. growth and sustainable development.
In 2023, PVN will achieve many impressive and comprehensive achievements; Most production and business targets were completed beyond plan and set many records of the oil and gas industry.
Impressive growth
Chairman of the Board of Members, General Director of PVN Le Manh Hung said that in 2023, the unit’s total oil exploitation output will reach 10.41 million tons, exceeding 12.1%, completing the previous year’s plan 1 month 9 days; Gas exploitation reached 7.47 billion m3, exceeding 25.7%; Nitrogen output reached 1.76 million tons, exceeding 10.3% of the plan, reaching the target 1 month and 2 days ahead; Electricity output reached 23.07 billion kWh, an increase of 31%; Petroleum production reached 7.36 million tons, exceeding 33.2% of the plan, increasing 5.8% compared to 2022, reaching a record level, the highest since Dung Quat Oil Refinery came into commercial operation. trade, 400,000 tons higher than the record set in 2022,… Financial targets completed the yearly plan 2-5 months ago, continuing to set a new record in revenue after 62 years History of the oil and gas industry. Specifically, total revenue reached 942,800 billion VND, exceeding 39% of the year plan, 11,600 billion VND higher than the 2022 record, equivalent to 9.2% of the country’s GDP; contributed 151,800 billion VND to the budget, exceeding 94% of the plan, accounting for about 9.4% of total budget revenue in 2023,…
Last year, there were two new oil and gas discoveries at block 16-2 and block PM3-CAA. This is an important result because since 2018, the company has only had two new oil and gas discoveries in one year. The Group also optimized costs and achieved savings of VND 3,072 billion, 37% higher than the plan. “The achieved results confirm that PVN has accumulated enough resources and experience to participate in investment and business in the field of industry and renewable energy domestically and internationally, especially offshore wind power.
At the same time, it demonstrates the diligent and dedicated process of implementing the motto of change management, this is also an important premise for PVN to continue to develop stably, sustainably, reach out, and realize growth aspirations. build and develop, becoming the country’s leading energy industry group, playing a pioneering role, ensuring energy for development” – Mr. Le Manh Hung emphasized.
According to General Director of Petroleum Exploration and Production Corporation (PVEP) Tran Hong Nam, in 2023, in the context of many fluctuations in the world oil market, the unit has focused on maintaining fluctuation management, value costs, promote initiatives and inventions; Focus on operating and exploiting with optimal efficiency, successfully completing assigned tasks, of which, the target of increasing reserves is reached 50 days in advance, and the converted oil and gas exploitation output is reaching the target 41 days in advance. , financial targets were reached 104 to 227 days earlier than the yearly plan.
For example, mining output reached 3.66 million tons of oil equivalent, exceeding 15% of the plan, reaching 100% of the management target; Total revenue of PVEP section is 41,500 billion VND, reaching 146% of the plan and 122% of management goals; budget contribution of 18,100 billion VND, host country interest of 5,790 billion VND, etc. In the coming time, the unit will continue to stabilize production, thoroughly deploying solutions to increase reserves and achieve targeted exploitation output. assigned.
Create new development impetus
Sharing about business efficiency, General Director of Binh Son Refining and Petrochemical Joint Stock Company (BSR) Bui Ngoc Duong said that last year, the unit had to face many difficulties when input costs increased. , the market fluctuates unpredictably, there were times when production was not profitable, but the efforts of the workers to overcome difficulties helped the unit reach the finish line with many new records.
Specifically, BSR achieved an output of more than 7.36 million tons of products, total revenue reached more than 150,000 billion VND, contributed more than 17,000 billion VND to the budget and profit after tax far exceeded the plan, the unit also reached 42.2 million VND. safe working hours. To meet consumer demand, the unit continues to deploy solutions to ensure operational efficiency as well as proactive supply in the market.
According to forecasts, in 2024, businesses will continue to face many difficulties and challenges, however, with their potential and strength, PVN and its member units have developed plans, solutions, ensuring the goal of continuous and sustainable growth.
In particular, continue to coordinate with relevant ministries and branches to perfect management institutions, mechanisms and policies to create conditions for PVN to expand the space and scope of development, in accordance with market and economic mechanisms. international practice. Focus on good cash flow management, ensuring safety and efficiency in capital use, meeting capital needs for production, business and investment activities. At the same time, regularly update and forecast crude oil prices and prices of key commodities to build business scenarios, have timely and appropriate response solutions as well as focus on digital transformation, Applying technology, developing and training to improve the quality of human resources,…
“To create motivation for development, it is necessary to be specific in each field of corporate governance according to the motto of renewing old motivation to shift business models. Continue to exploit the momentum of expanding scale, improving productivity and efficiency, expanding international business markets based on bilateral and multilateral relationships; investment management, portfolio of investment projects, optimization of costs as well as focusing on completing the restructuring project in sync with the Group’s model and management system,…” – Mr. Le Manh Hung emphasized.
ARTICLE AND PHOTOS: MINH DUC
(According to nhandan.vn newspaper on January 28, 2024)
