A corner of Sông Hậu No 1 Thermal Power Plant in the southern province of Hậu Giang. — Photos courtesy of PVN Group

HÀ NỘI — The Việt Nam Oil and Gas Group (PVN) recorded revenue of more than VNĐ283 trillion (US$12.2 billion) in the first half of this year, contributing VNĐ32 trillion to the State budget.

According to General Director of PVN Lê Mạnh Hùng, despite the COVID-19 outbreak, the group’s affiliates all maintained production as normal. Production units including VSP, Rusvietpetro, Biển Đông POC, PVGas, PVFCCo and PVCFC have completed and exceeded the set targets.

“PVN and its affiliates have ensured stable liquidity, making an important contribution to production and development,” Hùng said.

Hùng said the group has applied a set of management regulations in the form of E-Book since early this month. “This is a very important milestone in corporate governance, creating favourable conditions for PVN and its members to operate in a standard manner, ensuring progress, contributing to improving quality and efficiency.”

A packaging line at the Cà Mau NPK fertiliser manufacturing plant in the southernmost province of Cà Mau.

In order to complete the set targets in the second half of this year, Hùng required all units to grasp the market supply and demand forecasts, promoting investment procedures and processes to improve disbursement and applying advanced technology solutions to cut costs and increase productivity.

“All units must keep abreast of market movements, updating the situation of supply and demand, inventory of crude oil as well as petroleum and petrochemical products in order to give appropriate solutions, compensating for losses during the COVID-19 pandemic and oil prices falling from the beginning of this year,” Hùng said. — VNS