Petrovietnam determined to maintain its leading position in efficiency and profit among state-owned enterprises

08:25 |
09/10/2024
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To contribute to the overall growth of the economy , Chairman of the Board of Directors of Vietnam Oil and Gas Group (Petrovietnam) Le Manh Hung emphasized that in the coming time, the Petrovietnam team needs to focus on improving professional capacity and efficiency in management and operation.

Petrovietnam Chairman of the Board of Directors Le Manh Hung chaired the meeting between the Board of Directors and the Executive Board.

In the first 9 months of 2024, Petrovietnam maintained stable production and business activities.

On October 9, Chairman of the Board of Directors of Petrovietnam Le Manh Hung chaired a meeting between the Board of Directors and the Executive Board to evaluate the results of production and business activities in the first 9 months of 2024 and deploy tasks for the last months of the year. Attending the meeting were Mr. Le Ngoc Son, General Director; Mr. Tran Quang Dung, Standing Deputy Secretary of the Party Committee, members of the Board of Directors, the Board of Directors, and representatives of the Group's professional departments.

At the end of 9 months, Petrovietnam has maintained stable production and business activities, with projects and factories operating continuously, efficiently and safely, contributing to the Group exceeding its 9-month production targets by 1.3 - 19%. In addition to positive results from production, the Group has fully completed 6/6 financial targets for the whole year of 2024 according to the plan assigned by the State Capital Management Committee at Enterprises and the Board of Directors, reaching the target 3-5 months ahead of schedule. Of which, 5/6 growth targets are from 9-31% compared to 2023.

In addition to production and business activities, the Group also devoted many resources to social security activities with a total value of 480 billion VND in the past 9 months. Of which, the budget to support the construction of Great Unity houses for the poor was 95 billion VND; support foreducation and training programs was 227 billion VND; support for health programs was 52.3 billion VND; support for organizations and association funds was 105.7 billion VND.

Mr. Do Chi Thanh, Deputy General Director of Petrovietnam, said that in the past time, the Group, together with mass organizations and member units, have actively participated in supporting and promptly assisting local people to overcome the consequences caused by storm No. 3. Recently, responding to the Prime Minister's call at the program "Warm home for my compatriots", Petrovietnam has donated 150 billion VND to the Vietnam Fatherland Front to support the elimination of temporary and dilapidated houses in localities across the country.

In particular, in the reconstruction of Kho Vang village (Lao Cai), Petrovietnam has urgently and actively coordinated with local authorities to complete procedures, including: Compensation clearance, planning, construction planning, establishing a working group to work with the Provincial People's Committee, assigning local investors, expected to be completed by December 31, 2024.

Petrovietnam urgently carries out the reconstruction work of Kho Vang village (Lao Cai).

Science and technology are the driving force

At the meeting, the Group's leaders and professional departments exchanged and discussed issues in implementing the planned tasks for the last 3 months of the year and the whole year of 2024. The opinions exchanged also focused on evaluating solutions to "renew old motivations, add new motivations" to develop Petrovietnam.

According to Mr. Pham Tuan Anh, Member of Petrovietnam Board of Directors, science and technology and research transfer need to become the driving force for sustainable development for Petrovietnam.

Petrovietnam General Director Le Ngoc Son said unnecessary costs have been cut to the maximum.

Petrovietnam General Director Le Ngoc Son assessed that in the coming time, the Group needs to focus on evaluating and minimizing unnecessary costs, continuing to improve risk management, early identification of risks to have timely solutions, ensuring good implementation of the proposed plan. Regarding investment, General Director Le Ngoc Son requested Deputy General Directors in charge of the fields to continue to review the whole, focus on solving problems, and promote the progress of ongoing projects.

In addition, Petrovietnam General Director Le Ngoc Son also noted the need to closely monitor safety at construction sites and factories, ensure efficient operations, avoid incidents that disrupt production, and affect the implementation of the 2024 plan; actively participate in contributing to amending legal regulations and decrees related to the Group's operations.

After listening to the report and discussion, Chairman of the Board of Directors of Petrovietnam Le Manh Hung stated that although positive results have been achieved, in the coming time, the entire Group needs to focus on the driving forces that impact production and business activities, both positively and negatively. In particular, focusing on the driving force for productivity increase from change, application of scientific research, technology and strengthening risk management.

Through analysis and evaluation of recent trends, there are more difficulties and challenges for Petrovietnam. Chairman of the Board of Directors Le Manh Hung emphasized that the entire Group needs to focus on improving professional capacity and actual efficiency in management and operation to overcome difficulties and challenges.

Chairman of the Board of Directors Le Manh Hung: Absolutely will not let Petrovietnam lose its leading position in efficiency and profit among state-owned enterprises (Photo: Hien Anh)

“Absolutely not to let Petrovietnam lose its leading position in efficiency and profit among state-owned enterprises, maintain the management plan target, strive to achieve the highest results in the fourth quarter,” Chairman of the Board of Directors Le Manh Hung stated the goal.

On that basis, Chairman of the Board of Directors of Petrovietnam Le Manh Hung proposed solutions. In particular, focusing on doing well the work of governance and periodic governance control, ensuring proper operation according to the set policies and objectives, identifying risks and promptly taking preventive measures;

Maintain stable and safe operation of mining works, factories and key projects towards the goal of completing set production targets; Continue to promote the development and application of science and technology to ensure key growth drivers, focusing on building strategies for market and investment drivers.

In the coming time, the Group's leaders also proposed to strengthen risk management, continue to have assessment reports, review the impact of the legal document system, policy mechanisms on the Group's operations. In addition, Chairman of the Board of Directors of Petrovietnam Le Manh Hung also requested that the Group and units building plans for 2025 need to focus on cost and risk management, optimization, and cost savings in all activities.

PT – HA

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Source: https://www.pvn.vn/chuyen-muc/tap-doan/tin/0e1d47a9-0c7b-49e1-87c6-4faa1504f7c7