PVOIL achieved revenue of over 100,000 trillion VND, making an important contribution to PetroVietnam's overall results.

In the 11 months of 2024, PVOIL is estimated to achieve total revenue of over 120,000 billion VND, exceeding the management plan according to Decision 529 of PetroVietnam and is 1 of 3 units of the Group achieving revenue of over 100,000 billion VND, which was recognized on the occasion of the 63rd anniversary of the Vietnam Oil and Gas Industry's Traditional Day recently.

Comrade Le Manh Hung, Party Secretary and Chairman of the Board of Directors of PetroVietnam chaired the working session with PVOIL. (Source: PVN)

On December 1, in Ho Chi Minh City, the delegation of leaders of the Vietnam Oil and Gas Group (PetroVietnam) led by comrade Le Manh Hung - Party Secretary, Chairman of the Board of Directors of the Group had a working session with the Vietnam Oil Corporation - Joint Stock Company (PVOIL).

The PetroVietnam delegation included comrade Le Ngoc Son - Deputy Secretary of the Party Committee, General Director of the Group; comrade Tran Quang Dung - Standing Deputy Secretary of the Party Committee of the Group; members of the Board of Directors of Petrovietnam Bui Minh Tien, Tran Binh Minh, Tran Hong Nam; comrade Duong Manh Son - Deputy General Director of the Group; comrades in the Standing Committee of the Party Committee; leaders of the Group's professional departments.

On PVOIL's side, there were comrade Cao Hoai Duong - Party Committee Secretary, Chairman of the Board of Directors of the Corporation; comrade Doan Van Nhuom - former Deputy Party Committee Secretary, former General Director of the Corporation; comrade Nguyen Dang Trinh - Deputy Party Committee Secretary, General Director of the Corporation; and comrades in the Standing Committee of the Party Committee, the Board of Directors, the Board of Directors and all key officials of PVOIL.

At the meeting, PVOIL General Director Nguyen Dang Trinh reported on the implementation of the 2024 production and business plan according to the Group's management plan, the implementation of the 5-year plan (2021-2025) and the development strategy of the Corporation.

PVOIL's other production and business activities were actively implemented, successfully completing assigned tasks. Regarding the implementation of the 5-year plan (2021-2025), the Corporation completed 1 year ahead of schedule and exceeded the main assigned targets.

In the period of 2026-2030, based on PVOIL's strategy, Conclusion No. 76-KL/TW, the orientation of the Government , PetroVietnam, PVOIL identifies a number of tasks in the coming period such as: Focusing on the main fields of import and export, crude oil trading and blending, oil product trading combined with developing non-petroleum services at the petroleum station, continuing to adhere to the orientation of developing the distribution system, actively participating in energy transition, striving to become a leading diversified energy supplier; widely deploying the application of 4.0 technology, digital transformation and automation in business activities;...

Chairman of the Board of Directors of PVOIL Cao Hoai Duong reported more clearly on solutions to renew traditional driving forces and add new driving forces for the development as well as in PVOIL's strategy such as: developing petrol stations; developing electric vehicle charging stations; diversifying and adding new services at petrol stations; orienting the construction of highway rest stops, long-distance truck service stations; completing the conditions for trading Jet A1 aviation fuel, etc.; thereby, gradually building the foundation, realizing strategic goals, ensuring the sustainable development of PVOIL.

At the meeting, the leaders and professional departments of the Group made contributions to the activities and development strategies of PVOIL. In particular, Comrade Tran Quang Dung - Standing Deputy Secretary of the Party Committee of the Group noted that PVOIL needs to analyze traditional driving forces that can be renewed and supplement new driving forces, closely following Conclusion No. 76-KL/TW, ... fully consider, comprehensively review factors, proactively review the development strategy, goals, and tasks for the period 2026-2030, in sync with the political report of the Party Congress of the Corporation; in order to organize, manage, and effectively implement goals and plans. In particular, PVOIL needs to promote the building of corporate culture to contribute to the implementation of development tasks and strategies.

PetroVietnam General Director Le Ngoc Son praised the results achieved by PVOIL, which is one of the two units with a large proportion of revenue and has exceeded the Group's management plan. The Group's General Director requested PVOIL to continue to strive, promote new motivation in the last month of the year, and achieve the highest plan set for 2024, contributing to the completion of the Group's management plan.

He also noted that PVOIL should add new driving forces for growth and development in the coming period such as: Promoting international business, promoting non-gasoline services at gas stations, electric vehicle charging stations, developing green and clean fuel projects, etc., contributing to increasing revenue and compensating for traditional business areas that may decline due to the energy transition trend.

In the 11 months of 2024, PVOIL is estimated to achieve total revenue of over 120,000 billion VND, making an important contribution to PetroVietnam's overall results. (Source: pvu.edu.vn)

After listening to reports, discussions, and giving instructions, Comrade Le Manh Hung - Party Secretary, Chairman of the Board of Directors of PetroVietnam commended, acknowledged, and highly appreciated the efforts of the collective leadership and employees of PVOIL over the past years, as well as in 2024; thereby developing the Corporation, improving the lives and income of employees, as well as making important contributions to the overall results of the Group.

With the goal of striving to make PVOIL the number 1 enterprise in Vietnam in the field of business operations of the Corporation in terms of scale, technology application, and new energy development, comrade Le Manh Hung directed PVOIL to promote the leadership role of the Party Committee at the enterprise, in all aspects of operation, especially in building strategies and building a team of leaders at the same level to successfully implement the strategy.

He suggested that PVOIL continue to review and streamline its apparatus to improve productivity, efficiency, and competitiveness; review and evaluate assets and resources; implement strategic updates in the spirit of Conclusion No. 76-KL/TW, Resolution 38/NQ-CP of the Government, and the orientation of the Group's Party Committee; innovate governance; promote the application and development of digital technology, AI, and big data to increase productivity; focus on investing in expanding market share for traditional industries and business sectors, as well as new sectors and international business; shift and restructure the business model, in line with the energy transition trend, increase revenue from services and clean energy; develop sustainable fuel business such as aviation fuel and sustainable marine fuel; expand cooperation and integrate business models with units in the Petrovietnam ecosystem as well as with units outside the Group, build an integrated model inside and outside PVOIL; continue to strengthen, enhance culture, promote the tradition of solidarity for the development of PVOIL.

With a large proportion of revenue and the role of a leading enterprise, PVOIL's production and business results have made a very important contribution to the overall results of the Group. Comrade Le Manh Hung requested that PVOIL continue to make efforts and strive to achieve the highest targets assigned in 2024; review the 2025 targets, ensuring growth in sync with the growth targets of the Group and the country. He also requested the leaders and relevant departments of the Group to coordinate in resolving outstanding issues and recommendations of PVOIL, accompanying the unit to successfully carry out the tasks of 2024, 2025 and the next stage.

Source: https://baoquocte.vn/pvoil-dat-muc-doanh-thu-tren-100000-nghin-ty-dong-dong-gop-quan-trong-vao-ket-qua-chung-cua-petrovietnam-295917.html