Business

Petrovietnam achieves all of 2024 financial targets ahead of schedule

The Vietnam National Oil and Gas Group (Petrovietnam) has fully completed all of its six financial targets for 2024 assigned by the Commission for the Management of State Capital at Enterprises (CMSC) and the group’s Council of Members, ahead of schedule by 3 to 5 months.

The first LNG station in the north is put into use in Bac Ninh. (Photo: VNA)
The first LNG station in the north is put into use in Bac Ninh. (Photo: VNA)

Hanoi (VNA) – The Vietnam National Oil and Gas Group (Petrovietnam) has fully completed all of its six financial targets for 2024 assigned by the Commission for the Management of State Capital at Enterprises (CMSC) and the group’s Council of Members, ahead of schedule by 3 to 5 months.

Notably, five out of the targets showed growth ranging from 9% to 31% compared to 2023.

Over the first nine months of this year, Petrovietnam has maintained stable business operation, with its projects and plants operating continuously, efficiently, and safely, helping it exceed production targets set for the period by 1.3% to 19%.

In addition to its business activities, Petrovietnam has allocated significant resources for social welfare activities, amounting to a total value of 480 billion VND (nearly 20 million USD) over the reviewed period.

The group has also allocated significant resources for social welfare activities, with a total value of 480 billion VND in the January - September period, including 95 billion VND for building charitable houses for the poor, 227 billion VND for educational and training programmes, 52.3 billion VND for healthcare programmes, and 105.7 billion VND for organisations and associations.

Recently, in response to the Prime Minister's call for the elimination of temporary and dilapidated houses for poor people across the country, Petrovietnam donated 150 billion VND via the Vietnam Fatherland Front.

In a recent meeting reviewing the group’s production and business, Chairman of Petrovietnam’s Council of Members Le Manh Hung said despite achieving positive results, the business needs to promote the application of scientific research and technology, enhance risk management, and improve professional competence and effective management practices to overcome difficulties and challenges.

In this fourth quarter, Petrovietnam will continue implementing comprehensive solutions in a bid to maintain its leading position in terms of effectiveness and profitability among the State-owned enterprises, while well performing management objectives, Hung said. /.

VNA
#Vietnam National Oil and Gas Group #financial targets #production targets #social welfare activities #application of scientific research and technology
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