PetroVietnam continues to top list of most profitable enterprises
The Vietnam Oil and Gas Group (PetroVietnam) still tops the PROFIT500 list which names the 500 most profitable enterprises in Vietnam in 2022.
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| PV GAS aims to become one of the leading players in the national economy, gradually reaching out to the international market. (Photo: VNA) |
This is the fifth year that the group has taken the leading position.
Other firms in the oil and gas sector also named in the list announced by Vietnam Report include PetroVietnam Gas Joint Stock Corporation (PV GAS) which is an affiliate of PetroVietnam, Binh Son Refining and Petrochemical Joint Stock Company (BSR), PetroVietnam Fertiliser and Chemicals Corporation (PVFCCo), Vietnam-Russia oil and gas joint venture (Vietsovpetro), PetroVietnam Power Corporation (PV Power), PetroVietnam Ca Mau Fertiliser Joint Stock Company (PVCFC), and PetroVietnam Insurance Corp (PVI).
This result affirmed PetroVietnam’s effective performance in recent years with its healthy financial position and flexible management capacity.
Crude oil exploitation by the group reached 900,000 tonnes in July, exceeding the plan by 19%. This brings the total figure in the first seven months to 6.38 million tonnes, surpassing the plan by 22% and equal to 73% of the yearly target.
Petroleum and nitrogen production exceeded the plan by 8% and 9%, respectively. The production and supply of gas, electricity and other energy products are all at a high level. This meets the market demand and contributes to stabilising the market and the macro-economy, ensuring national energy security and economic growth. Production and business in these fields both recorded positive results.
With efficient production and business activities, the group's total revenue during January-July 2022 is estimated at 547.7 trillion VND (23.4 billion USD). The figure is 64% higher than the plan and 56% higher than the figure in the same period of 2021. In the period, PetroVietnam contributed 79.6 trillion VND to the budget, surpassing the plan by 74%, up 47% year-on-year.
According to Vietnam Report, after more than 30 years of operation, the PV GAS has turned into the pioneer enterprise in Vietnam's gas industry and a strategic energy supplier for many industries.
PV GAS aims to become one of the leading players in the national economy, gradually reaching out to the international market, ranking high in the ASEAN region and being listed among the top gas brands of Asia.
A survey conducted by Vietnam Report in August also recorded a strong recovery of companies on PROFIT500. About two-thirds of them had their revenues surpassing the levels prior to the COVID-19 pandemic and only 6.2% fell short of their pre-pandemic profits.
(Source: VNA)
