ANTD.VN - In 2023, overcoming countless difficulties and harshness, Petroleum officials and employees have persevered in the motto of managing changes, unifying the spirit of 1 team, 1 goal to create 9 outstanding marks. turn on.
1. With the attention of the Party, the State, and directly the Prime Minister, Petrovietnam has perfected institutions and policies related to the Group's production and business activities, creating a premise for a stable and sustainable development strategy.
– Complete the Project to adjust and replace Resolution No. 41-NQ/TW dated July 23, 7 on Vietnam Oil and Gas Industry Development Strategy to 2015, vision to 2025. On November 2035, 24, the Committee The Central Economic Committee has submitted to the Politburo for consideration and promulgation of a new Resolution, creating conditions for the Vietnam National Oil and Gas Group to develop sustainably.
 |
|
PTSC - Sembcorp consortium received license to survey offshore renewable energy projects. |
– The Petroleum Law 2022 takes effect from July 01, 7 and Decree 2023/45/ND-CP of the Government issued on July 2023, 01 details a number of articles of the Petroleum Law is a complete and synchronous legal framework to promote and develop oil and gas activities.
– The project to restructure Vietnam Oil and Gas Group for the period until the end of 2025 was approved by the Prime Minister in Decision No. 1243/QD-TTg dated October 25, 10; Affirming the development of Vietnam National Oil and Gas Group into the leading Industrial and Energy Group in the country and the region.
– The plan for production, business and investment activities of Vietnam Oil and Gas Group until the end of 2025 has been approved by the Prime Minister in Decision No. 117/QD-TTg dated December 12, 12.
 |
|
Coal warehouse at Thai Binh 2 Thermal Power Plant - Project "revived" after many years of implementation. |
– Intergovernmental Agreement on the activities of Vietsovpetro (VSP) and Russvietpetro (RVP): approved by the Government of Vietnam in Resolution No. 216/NQ-CP dated December 15, 12 and issued by the President of the Russian Federation Federal Law approved on December 2023, 19.
2. Innovating management work: (i) Planning a management plan with high goals and great pressure to attract and concentrate resources and 6 groups of implementation solutions to create growth motivation; (ii) Optimize management and technology application to improve production and business capacity and efficiency
– Most of the main production targets assigned by the Government have been completed exceeding[1] the 2023 plan by 2 - 33%; There are 6 growth targets[2] compared to 2022.
 |
|
PVOIL always ensures gasoline supply in any situation. |
– Maximize efficiency and optimize costs, save from: raw materials, mining operations, management/sales costs, equipment procurement,... the entire Group in 2023 achieves 3.072 billion VND, 37% exceeding plan.
3. Overcoming challenges, taking advantage of opportunities to set many records in production and business activities
– In 2023, the total revenue of the Group will set a new record in the history of formation and development, reached 942,8 trillion VND, increased by 11,6 trillion VND, breaking the record of 2022 (931,2 trillion VND) in the context of many macroeconomic difficulties, declining oil and gas production and unstable fluctuations in crude oil prices and prices of key petroleum products (down 17-30% compared to 2022).
– Production records: Three units (BSR, PVOIL and PVCFC) achieved records since coming into operation with 7,3 million tons of petroleum and 950 thousand tons of Urea.
– Business record: PVOIl with 5,2 million m3 petroleum and PVGas business with nearly 2,5 million tons of LPG business.
 |
|
The first imported LNG ship arrives at the 1 million ton LNG Thi Vai port. |
4. Contributes significantly to stability and socio-economic development of the country
– Total revenue of the Group is equivalent to 9,2% of the country's GDP; Total state budget contributions of the entire Group account for about 9% of total state budget revenue in 2023.
– Vietnam National Oil and Gas Group affirms its important role in ensuring energy security; macroeconomic balance and strong participation in market stabilization; Providing fuel for national security and defense: meeting over 75% of the country's petroleum demand, meeting over 73% of the country's fertilizer demand, over 75% of the country's LPG market share and 20% of the domestic market share in petroleum business.
– The entire Group spent 750 billion VND to implement Social Security in all regions of the country.
– According to assessments by international organizations, Petrovietnam has a strong influence on the country's socio-economic development; Petrovietnam's activities have a material impact on the entire energy value chain in Vietnam.
5. Expanding the scale, improving capacity and efficiency of factories creates a solid position for business model transformation
 |
|
Fields and projects put into operation early will help increase oil and gas exploitation output in 2023. |
– Expanding domestic scale[3], promoting international activities[4], creating new motivation, making an important contribution to forming a basic system, a foundation for expanding scale, increasing value and scope. Petrovietnam's influence on the world market; Especially proactively seizing opportunities in the energy transition trend to develop new products to gradually transform the business model.
– Operating at factories continuously, safely, stably, optimizing capacity and efficiency: Oil Refineries[5] average capacity of 105-112%; Fertilizer Plants[6] capacity 114-115%; The Group's Power Plants are always ready to supply with high availability.
6. Investment management continues to change, achieving positive results
– Good management of investment portfolio in all 05 areas, focusing investment resources on highly effective projects; Review investment plans, promote investment supervision, and prioritize capital sources for urgent projects. The value of investment implementation reached 31,8 trillion VND, an increase of 24% compared to 2022 (25,6 trillion VND).
– Complete and put into commercial operation and accelerate the progress of many key projects: Thai Binh 2 project was revived, completed and put into operation; operates Thi Vai LNG Terminal with capacity of 1 million tons/year; Signing EPC contracts for field development projects under Block B gas-electricity project chain after many years of preparation. Complete and put into early operation 04 oil and gas mines/projects[7].
– There were 02 new oil and gas discoveries[8] - recording an important milestone of 02 new oil and gas discoveries in one year.
 |
|
Workers construct offshore wind power bases at PTSC port. |
7. Digital transformation contributes to improving value, gradually forming a synchronous digital platform
– Petrovietnam has completed digitizing all documents and regularly updates on AI applications and integrating enterprise resource management (ERP) systems.
– Petrovietnam and its member units accelerate the digital transformation process; Build a database, a master map of Petrovietnam's database (Data-Model Map/Architecture) and connect application systems on an information technology platform; building smart factories; enhance customer experience; increase competitiveness and achieve practical benefits[9].
8. Innovate and add new growth drivers
– Develop value chain links in the Petrovietnam ecosystem, actively contributing to member units working together to research solutions to maximize resources and innovate to develop new products. Highlights include: BSR has successfully researched, produced and sold 3 new products: BOPP, RFCC Naphtha, MixC4 and maximize the RON index to increase Mogas 95 gasoline output; PVChem develops high-value, environmentally friendly chemical and petrochemical products such as producing PP Filler Masterbatch/ Compound from PP powder. With a total of 17 Group-level initiatives, 471 grassroots-level initiatives applied to actual production and business activities have brought value of over 1.246 billion VND.
– The Group focuses on evaluating and researching the trend of shifting to green energy. Which focuses on offshore wind power to develop Petrovietnam's energy industry. PTSC has concretized its policy of developing the renewable energy sector, cooperating with Sembcorp Utilities Ltd (SCU) to invest in exporting electricity to Singapore from offshore renewable energy sources in Vietnam; and actively expand cooperation opportunities and build supply chains in the field of offshore wind power in particular and offshore renewable energy in general in Taiwan (China), moving forward to expand to other countries in the region. .
9. Recreate Petrovietnam culture, enhance brand value
– Carrying out the cultural regeneration of Petrovietnam ahead, creating momentum for business regeneration, paving the way for strategic development of Vietnam National Oil and Gas Group. The core value system of oil and gas culture "Aspiration - Intelligence - Professionalism - Compassion" is deeply embedded in corporate life.
– In 2023, Petrovietnam brand value will reach nearly 1,4 billion USD (up 3 times compared to 2019) with a brand strength index at AA-. For the fourth consecutive year, PVN has appeared in the Top 4 most valuable brands in Vietnam. For the 10th consecutive year, Petrovietnam has appeared in the Top 15 largest enterprises in Vietnam.
– For the fifth consecutive year, Petrovietnam has been assigned an independent credit rating of BB by the world's leading credit rating organization, Fitch Ratings.+ accurately reflects Petrovietnam's strong business and financial situation with a high level of integration in the Group's areas of operation.
[1] The targets completed exceeded the plan, including: Crude Oil Exploitation (exceeded 12%), Gas Exploitation (exceeded 26%), Petroleum Production (exceeded 33%), Urea Fertilizer Production (exceeded 9%), LPG production (exceeds 14%), Condensate (exceeds 2%), Polypropylene (exceeds 32%)….
[2] Growth targets compared to 2022: These are: Electricity Production (up 31,7%), Petroleum (up 5,6%), Urea Fertilizer from Ca Mau (up 2,9%), Polypropylene (up 12,5%), LPG (up 0,7%), NPK (up 0,1%).
[3] PVOil expanded its scale to 762 petroleum stations nationwide, completed 02 years ahead of the strategic goal and 5-year plan (750 petroleum stations)
[4] In 2023, international activities in countries such as Singapore, UAE, Taiwan, Malaysia, Laos,... of PVN member units will be focused on implementing through petroleum and LPG trading activities. and providing oil and gas technical services has brought high revenue: PVOil - 18 trillion VND; PVGas – 11,4 trillion VND; PTSC – 10 trillion VND.
[5] Dung Quat Oil Refinery achieved an average capacity of 112% during the year; Nghi Son Oil Refinery operates at 105% capacity from November 11 to present
[6] Ca Mau Power Plant's average capacity of the whole plant reaches 110-115%; Phu My Power Plant's average capacity (Urea) reached 114%.
[7] 04 mines/projects put into operation earlier than planned: RC8 platform (July 15, 7 - 2023 days earlier than planned); BK30 rig (October 22, 18 - 10 days earlier than planned); BK2023A rig (December 28, 4 - 20 days earlier than planned); Bunga Lavatera field had its first gas flow on July 12, 2023 - 11 months earlier than planned (this is an exploratory well that was discovered and put into operation immediately).
[8] Block 16-2, Ha Ma Vang -1X well and Block PM3-CAA, Bunga Lavatera-1 well.
[9] These are: synchronously deploying DMS, CRM digital platforms and developing AI solutions at PVCFC; Building digital culture in parallel with applying solutions, notably PVOIL's PVOIL Easy program.
