He asked the group to safely and effectively operate oil and gas projects, striving to fulfill 2023 goals and making contributions to ensuring national energy security and meeting domestic demand for oil and gas, electricity and fertilizers.

PetroVietnam should also work closely with the Ministry of National Defense, Ministry of Foreign Affairs and Ministry of Public Security and concerned agencies to ensure national defense and economic security in oil and gas activities, the PM said.

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Prime Minister Pham Minh Chinh listens to introduction about PetroVietnam's activities.

Last year, PetroVietnam’s crude oil exploitation hit a record with 8.98 million tons, up 28% from the target. Its production and export of fertilizers reached 1.88 million tons and 606,000 tons, respectively. Petrol production met about 75% of domestic demand. With a total revenue of VND 931.2 trillion (USD 40.4 billion), its before-tax profit surpassed VND 82 trillion and State budget collection hit VND 170.6 trillion, or about 9.6% of total revenues of the State budget.

PetroVietnam also put into operation Song Hau 1 and Thai Binh 2 power projects, accelerated the progress of thermal and gas power projects and expanded the Dung Quat oil refinery.

This year, the group sets goals of tapping 9.29 million tons of oil and 5.94-8.11 billion cu.m of gas, and producing 1.6 million tons of fertilizer and 24 billion kWh of electricity. It aims for revenue of  VND 677.7 trillion and contributing 78.3 trillion VND to the State budget.

At the event, the Prime Minister and leaders of ministries and agencies also presented noble distinctions of the Party and State to PetroVietnam’s units and individuals in honor of their contributions to national development.

Source: VNA