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Hebei Ladery Import & Export Co., Ltd. [Hebei,China] Business Type:Manufacturer , Trade Company Main Markets: Africa , Asia , Caribbean , East Europe , Europe , Middle East , North Europe , Oceania , Other Markets , West Europe , Worldwide Exporter:61% - 70% Certs:ISO9001, CE

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The Vietnam Oil and Gas Group is producing 22% more crude than planned

2022-08-18

Vietnam oil and gas group, the hypothalamus (PVN), general manager of le manh hung said the first seven months of this year, despite the economic and political situation of the world is complicated, such as the conflict between Russia and Ukraine and the tension, the interest rate continuously rise, regional inflation, the cost of a sharp increase in raw material prices, face the difficulties of the supply chain, the enterprise profit space compression, However, with effective and flexible management measures, PVN can flexibly respond to changes in the international situation in a timely manner, make full use of valuec hain resources, reduce losses caused by negative effects, make full use of business opportunities brought by the market, and maintain stable and efficient production and operation activities.

In July this year, crude oil production reached 900,000 tons, 19% higher than the set plan. In the first seven months of this year, crude oil production reached 6.38 million tons, 22% higher than the set plan, and 75% of the 2022 plan was completed.

Meanwhile, in the first seven months of this year, production of refined oil products was 8 percent higher than planned, and nitrogen fertilizer production was 9 percent higher than planned. The production and supply of gas, electricity and other energy products are at a high level, fully meeting market demand, thereby helping to ensure market stability, macroeconomic stability, national energy security and economic growth. Positive results have been achieved in the production and management activities in the above-mentioned areas.

As a result, in the first seven months of this year, the total revenue of PVN amounted to about ECD547.7 trillion, 64% over the planned amount and 56% more than the same period in 2021, and it turned over to the state Treasury of ECD79.6 trillion, 74% over the planned amount and 47% more than the same period in 2021.

The remaining months of the year will face many difficulties and the world economic situation continues to show signs of recession. Therefore, PVN will continue to closely monitor the market and macroeconomic developments, focus on managing volatility, update plans, control risks and ensure that the established plans are fulfilled to the maximum, said Mr Li.

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