Petroleum and gas companies achieved profits of thousands of billions of dong in the first half of the year.

Vietnam National Oil and Gas Group ( Petrovietnam ) has just announced its estimated results for the first 6 months of 2023 with total revenue of the group reaching 420,100 billion VND, exceeding the set plan by 24%. Petrovietnam has paid the state budget (excluding Nghi Son Refinery and Petrochemical Company) more than 66,000 billion VND, exceeding the plan by 63%. The group said that its consolidated pre-tax profit exceeded the target but did not disclose specific figures.

For the whole year of 2023, the group expects to achieve revenue of VND 677,700 billion (excluding Nghi Son Refinery and Petrochemical Company) and pay VND 78,300 billion to the state budget. Thus, after the first half of the year, PVN has achieved 62% and 84% of the above two targets, respectively.

Vietnam National Oil and Gas Group exceeds revenue plan for the first 6 months of this year

Notably, Petrovietnam said that one of the major problems and difficulties is that Vietnam Electricity Group (EVN) is currently in debt for the entire group of up to nearly 23,000 billion VND, of which the debt due for payment is more than 14,000 billion VND, greatly affecting the group's production and business activities and cash flow balance.

Petroleum and gas companies achieved profits of thousands of billions of dong in the first half of the year

Another unit, PetroVietnam Gas Corporation (stock code GAS), said that in the first 6 months of the year, its estimated revenue reached VND45,768 billion, reaching 60% of the yearly plan. Estimated after-tax profit reached VND6,035 billion, reaching 92% of the yearly plan. Accordingly, GAS estimated its 2023 business results with total revenue of VND89,496 billion, pre-tax profit of more than VND13,000 billion and after-tax profit of VND10,412 billion.

Similarly, Vietnam Oil Corporation (stock code OIL) announced its business performance in the first 6 months of 2023 with key business performance indicators all achieving high rates compared to the plan. Accordingly, the company's consolidated revenue reached VND 43,478 billion; consolidated pre-tax profit reached VND 470 billion; consolidated state budget payment reached VND 4,673 billion. Thus, after the first 6 months of the year, the company has completed approximately 87% of the revenue plan and 78.3% of the annual profit plan. However, compared to the first 6 months of 2022, OIL's profit has decreased by more than 50%.

Vietnam Oil and Gas Power Corporation (stock code POW) has just held a conference to review production and business activities in the first 6 months of the year with estimated revenue of VND 16,567 billion, up 14% over the same period last year. The company has not announced its profit. At the end of the first quarter of 2023, POW estimated that the total pre-tax profit of the corporation would reach VND 578.8 billion...

Source: https://thanhnien.vn/cac-cong-ty-xang-dau-khi-dat-loi-nhuan-hang-ngan-ti-dong-trong-nua-dau-nam-185230714164458542.htm