Petrovietnam heartened by first-half results despite Covid resurgence

08:00 | 10/08/2021 Companies

(VEN) - In order to protect workers’ health and maintain stable production and trading activities in the context of Covid-19, the Vietnam Oil and Gas Group (Petrovietnam) issued a directive on pandemic control, implementation of the government’s vaccination policy and the Ministry of Health’s 5K message - khau trang (face masks), khu khuan (disinfection), khoang cach (distancing), khong tu tap (no gatherings), and khai bao y te (health declarations).

Despite the pandemic’s complicated developments, Petrovietnam has obtained encouraging achievements in terms of production and trade management while at the same time controlling the spread of the disease by issuing timely directives and guidance throughout the group system.

Along with identifying difficulties and opportunities to best realize its 2021 targets, the group’s leadership asked all of its member units to seriously and urgently implement key tasks and solutions, including regular risk identification and forecasts and proposal of solutions.

Petrovietnam and its member units will further endeavor to buy Covid-19 vaccines for employees and ensure adequate equipment in order to maintain production. The group prepared scenarios for appearance of F0 cases in production areas such as factories, marine works and project sites, among others, as well as response plans. The group’s leadership proposed that units and trade unions at different levels consider support for employees to encourage them to do a better job.

The group will coordinate with its member units and organizations to ensure the circulation of goods. Petrovietnam’s leadership asked member units to keep abreast of market developments, update on supply and demand and inventories of crude oil, petroleum and petrochemical products in domestic and foreign markets to ensure continual production and trading activities.

The leadership asked member units to strengthen cooperation and minimize expenses, make the most of the industry’s resources, maximize efficiency, and together with the group overcome challenges and difficulties, and fulfill tasks.

While numerous enterprises worldwide experienced losses, Petrovietnam has been exceeding most of its main targets and reaching the oil mining target of the first half ahead of schedule, in May 2021 (one month earlier than the deadline). In the first half of this year, the group earned total revenue of VND299.3 trillion (20 percent higher than the first-half target and up 22 percent from the same period in 2020) and paid VND45.2 trillion in taxes to the state budget, 42 percent higher than the first-half target and up 33 percent year-on-year.

Ngan Vu