PM asks new PetroVietnam chief to handle loss-making projects

Prime Minister Nguyen Xuan Phuc handed over the decision on the appointment of new Chairman of the Member Council of the Vietnam National Oil and Gas Group (PetroVietnam) to Tran Sy Thanh, member of the Communist Party of Vietnam Central Committee (CPVCC) and former Secretary of the Lang Son province Party Committee.
PM asks new PetroVietnam chief to handle loss-making projects ảnh 1Tran Sy Thanh, newly-appointed chief of PetroVietnam. (Source: VNA)

Hanoi (VNA) – Prime Minister Nguyen Xuan Phuc handed over the decision onthe appointment of new Chairman of the Member Council of the Vietnam NationalOil and Gas Group (PetroVietnam) to Tran Sy Thanh, member of the CommunistParty of Vietnam Central Committee (CPVCC) and former Secretary of the Lang Sonprovince Party Committee.

A teleconference ceremony for the event was held on January 3 in Hanoi,connecting with Ho Chi Minh City, the northern port city of Hai Phong, thecentral coastal province of Quang Ngai, Vung Tau city in Ba Ria-Vung Tauprovince, and Soc Trang and Ca Mau provinces in the south.

In December 2017, under a decision issued by the Politburo, Thanh, member ofthe CPVCC, Secretary of the Lang Son Party Committee and head of the delegationof deputies of the 14th National Assembly of Lang Son province, wasrelieved of his positions in the Lang Son Party Committee during 2015-2020 toassume the post of deputy head of the CPVCC’s Economic Commission and Chairmanof the PetroVietnam Member Council.

He was then designated by the Secretary of the Party Committee of the CentralBusiness Bloc as a member of the Party Committee of PetroVietnam and itsStanding Board, and Secretary of the committee for the 2015-2020 term.

Addressing the ceremony, PM Phuc asked the newly-appointed chief ofPetroVietnam to well perform tasks assigned by the Party and State.

Heapplauded efforts made by PetroVietnam to surpass its assigned targets andensure living conditions of its staff despite wrongdoings in management  committed by several officials of the group, whichhe described “a very expensive price”, plus uncertainties in the East Sea anddropping oil price for many years.

Stressing the important role played by PetroVietnam in national constructionand defence, the leader urged the group to ensure effective production andcontribute to protecting and affirming national sovereignty, and guaranteeingnational energy security at the same time.

He also asked the group to implement the Politburo’s Resolution No. 41 onstrategic orientations for the development of Vietnam’s oil and gas sector by2025 with a vision towards 2035.

Underlining great contributions of PetroVietnam to the national gross domesticproduct (GDP), PM Phuc said the group should coordinate with relevant agenciesto carry out offshore oil and gas projects on Vietnam’s continental shelf.

Besides, PetroVietnam needs to restructure its human resources, implementequitisation and capital divestment during 2017-2020 as approved, and promptlysubmit to the PM the project on comprehensive restructuring of the group during2017-2020 and other restructuring projects, looking towards a streamlinedapparatus and sustainable development, he said.

The leader requested PetroVietnam to fast-track the implementation of keynational projects and its leaders to continue drastically handling loss-makingprojects.

PetroVietnam needs to further cut expenditures and combat wastefulness andother bad deeds in a number of its member units, and improve productivity aswell as material and spiritual life of its staff, he said.

In 2017, PetroVietnam’s total turnover exceeded the set target by 13.8 percentand its contribution to the State coffer also surpassed the target by 30.8percent. The group’s post-tax profit totaled 31.9 trillion VND (1.4 billionUSD).

Annually, the group contributes 20-25 percent of the State budget.-VNA
VNA

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