PVN reported a record profit of 3.5 billion USD

PVN recorded revenue of 931,200 billion dong and consolidated profit before tax of over 82 trillion dong – the highest in 61 years of developing the oil and gas industry.

At the summary conference on January 10, Vietnam Oil and Gas Group (PVN) Le Manh Hung, General Director of PVN, said that in 2022, the group will achieve a growth of 3-26% depending on the field compared to 2021, many records. newly established after 61 years of development.

Accordingly, the increase in oil and gas reserves reached 16.97 million tons, an increase of 26% compared to 2021. Oil exploitation reached 10.84 million tons, of which domestic exploitation reached 8.98 million tons, foreign exploitation reached 1. 86 million tons.

Gas exploitation output reached 8.08 billion m3, an increase of 8.3% compared to 2021. PVN supplied 17.64 billion kWh of electricity; petroleum reached 6.96 million tons, up more than 9% compared to 2021.

As a result, the group’s revenue and profit reached a record in 61 years of oil and gas industry development, respectively VND 931,200 billion (nearly USD 40 billion) and VND 82,200 billion (approximately USD 3.5 billion).

The reason PVN achieved record revenue and profit in 2022, according to Mr. Le Manh Hung, the main production and business sectors increased by 3-26%. Along with that, the high oil price last year (average Brent oil price is 101 USD per barrel), the good use of business opportunities and management innovation, the efforts of more than 60,000 employees… are also the the reasons for the “big” oil and gas profits suddenly.

Prime Minister Pham Minh Chinh listens to an introduction about oil and gas activities at Bach Ho field,
the first oil field exploited in Vietnam on January 10. Photo: Petrotimes

Attending the conference, Prime Minister Pham Minh Chinh acknowledged the group’s contribution in stabilizing the macro-economy, controlling inflation, ensuring major balances, and promoting economic growth… in 2022. .

Commenting that in 2023, the energy market, the price of crude oil and petroleum products still fluctuates very irregularly and is difficult to predict, the Prime Minister suggested that the oil and gas industry operate safely and stably with high capacity. make a major contribution to ensuring national energy security.

PVN’s investment, according to the Prime Minister, is still a bottleneck and needs a strong breakthrough in the coming time. Key oil and gas projects, urgent power projects such as the gas-electricity project chain of Block B, the Ca Voi Xanh gas-electricity project chain, the Long Phu 1 thermal power plant, the project of upgrading and expanding the House Dung Quat oil refinery… encountered many difficulties and delayed progress.

Therefore, the Government leaders asked the corporation this year to set a target to start key projects after being cleared by competent authorities such as the Block B gas-power project chain, Nhon Trach 3 Power Plant Project. , 4; Son My LNG gas power chain…; research new energy projects, offshore wind power.

In 2023, PVN proposed a higher production plan than 2022, such as increasing oil and gas reserves from 8 to 16 million tons of oil equivalent; exploiting nearly 9.3 million tons of oil; gas is about 5.94-8.11 billion m3; Protein production is 1.6 million tons, electricity is about 24 billion kWh and gasoline (excluding Nghi Son) 5.53 million tons.

With this year’s oil price plan approved by the National Assembly at 70 USD per barrel, PVN expects this year’s revenue (excluding Nghi Son Refinery and Petrochemicals) to be VND 677,700 billion; consolidated profit 34,000 billion dong.

Six groups of solutions on mechanisms and policies, governance – business management, finance, investment, science and technology market, and training… have been deployed by this group this year to complete the goal. production and business plan.

Source: An Minh VNEPRESS

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