Besides revenues, the group has fulfilled most yearly targets despite difficulties caused by the COVID-19 pandemic, the complicated development in the East Sea (South China Sea) and obstacles in legal framework.
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The group has fulfilled most yearly targets despite difficulties caused by the COVID-19 pandemic. (Photo: baogiaothong) |
The oil output in 2021 reached 10.97 million tons, 13 percent higher than the plan set for the year, and fertilizer production 1.91 million tons, exceeding the yearly plan by 18 percent, and up 6 percent compared to 2020.
Meanwhile, oil and petrol output totaled 6.37 million tons, representing a year-on-year rise of 9.5 percent and surpassing the plan by 0.1 percent.
The group's pre-tax profit in the year surpassed the plan by 2.6 times, and up 2.2 times year-on-year, reaching 45 trillion VND.
PetroVietnam contributed 112.5 trillion VND to the State budget, 80 percent higher than the set plan, and up 36 percent compared to the previous year.
In 2021, the group's subsidiaries have closely and effectively coordinated to create a value chain, and regularly shared information to balance production, inventory and product distribution. In 2021, the group reduced costs by a record 3 trillion VND, surpassing the plan by 10.4 percent.
PetroVietnam has concentrated its resources in order to accelerate the progress of investment projects and remove "bottlenecks" in this work.
The investment portfolio management is implemented effectively and synchronously, while digital transformation has been also gradually expanded to each unit.
In addition, in order to ensure efficiency in management and administration, and create a legal corridor for the group’s production and business activities, it has made recommendations to authorized agencies in order to remove obstacles on mechanisms and policies for the group’s operations, and actively coordinated with relevant agencies in finalizing the revised Oil and Gas Law.
It also spent more than 1 trillion VND for social security activities, including contributions to the national COVID-19 vaccine fund.
Source: VNA