VietNamNews

PM asks PetroVietnam to enhance business efficiency

Update: January, 03/2018 - 16:00
Prime Minister Nguyễn Xuân Phúc highly appreciates the results of PetroVietnam in 2017. — VNA/VNS Photo Thống Nhất
Viet Nam News

HÀ NỘI — Prime Minister Nguyễn Xuân Phúc on Wednesday asked the National Oil and Gas Group (PetroVietnam) to enhance its business efficiency and contribute to ensuring energy security and asserting national sovereignty.

Phúc was speaking at a ceremony where the decision to appoint Trần Sỹ Thanh, former secretary of the Lạng Sơn Province Party Committee, as the new chairman of the PetroVietnam Members’ Council was announced

Phúc urged PetroVietnam to strive to fulfill its socio-economic development tasks following the country and the group’s oil and gas development strategy to 2025 with a vision to 2030, stressing its significant contribution to the socio-economic development.

PetroVietnam should closely watch developments on the East Sea and enhance cooperation in implementing offshore oil and gas projects on the continent shelf of Việt Nam, Phúc said.

He also asked the group to hasten restructuring following the approved plan for the 2017-20 period. Accordingly, the restructuring plan must be submitted to the Government within the first quarter of this year.

Focus should also be on hastening major national projects such as Blue Whale gas project, Nghi Sơn Oil Refinery, Dung Quất Oil Refinery, along with power projects, he added.

In addition, problems at its five loss-making projects must be handled thoroughly, including Đình Vũ polyester plant, Dung Quất shipyard and three bio-fuel plants.

The Prime Minister highly appreciated the higher-than-target results of PetroVietnam in 2017.

The group’s oil production output exceeded the target by 10.5 per cent, gas output by 3 per cent, power generation by 2.4 per cent, and petrol and oil production of Dung Quất Oil Refinery by 19.5 per cent. Its contribution to the State budget was 30.8 per cent higher than the target.

Thanh took the position which was considered a “hot seat” and left vacant since March.

Some of its former chairmen had been arrested and under investigation for alleged violations of State regulations on economic management. — VNS