PV Gas Targeting International Markets

Source: Pano feed

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With many record outcomes including total sales of VND65,000 billion, total profit before tax of VND15,000 billion, first ranked company of the Vietnam Oil and Gas Group (PVN) in terms of revenue and profitability and 2nd ranked listed stocks on the Vietnam’s securities exchanges, the Petrovietnam Gas Corporation (PV Gas) has proved its great performance in 2013.


Impressive achievements


In the context of the domestic and world economies facing many difficulties, 2013 was seen as a successful year for PV Gas, when many projected targets of the group have been fulfilled beyond expectation, highlighting its core roles in the Vietnam Oil and Gas Group (PVN) in terms of completion of the general targets as well as good contribution to the state budget. Specifically, total sales have reached VND65,000 billion, 118% of the planned target; total profit before tax has reached nearly VND15,000 billion or 153% of the planned target, profit after tax reached 12,000 billion, or 153% of the planned targets, with contribution of more than VND5,200 billions to the state budget equal to 147% of the plan; and the after-tax rate of return on capital is 60%. The total sales of the PV Gas account for 10% of sales of the PVN and 2% of the GDP of the country.


According to the Forbes magazine, the shares of the PV Gas are ranked second on the stock exchanges in Vietnam. The construction works are being carried out actively and according to plan, with sound funding for in-progress works. As a result, a number of large projects have been put into use and adjustment to ensure an effective funding for the projects. In particular, the PV Gas has completed and put the LPG project with a capacity of over 60,000 tons in Thi Vai into safe operation from the beginning in 2013, which proves the important role of the project to the PV Gas and the economy in general. The company also puts the Rong Doi Moi project to expand its gas collection system into operation; the project makes an important contribution to collect the residual gas of the Rong Doi Moi on shore, limiting offshore gas flaring and increasing the supply of gas to consumers. Besides, the company has completed 10 other major projects.


The business operation of the unit members in 2013 experienced difficulties due to the economy. But most units have completed and exceeded the initial targets of the plan. Other activities related to scientific research, investment cooperation, and innovation and patent promotion are of particular interest and being constantly fostered. According to the preliminary statistics, PV Gas has nearly 100 innovations and patents, which have been recorded, introduced and put into practice, generating millions of dollars for the company.


Besides, in 2013, the shares of PV Gas continue to heat up on the stock market with remarkable outcomes, which proves the advantages of the equitization process of the PV Gas.


Contribute to the development of community


High-quality human resources are determined as an invaluable asset for the success and brand value of the PV Gas, the company always adopts many policies to attract talent as well as high-quality human resources to meet the high requirements of development in the new period. Accordingly, to attract the employees with high expertise, experience, long-term commitment to the company, high sense of responsibility and creation of efficient outcomes, the PV Gas has developed an innovative policy with many new features in accordance with the provisions of law and labour market trends. The employees are paid wages, bonuses and welfare based on their capacity and efficiency of the individual job. This helps to create a stable income to cover personal living standards. Besides, the employees will have training opportunities to enhance their professional qualifications as well as receive other supports related to health care, social lives as well as full retirement coverage.


Besides, PV Gas is also a pioneer in the social welfare activities as well as other community activities to make community better. Just like the previous year, in 2013, the company has contributed to more than VND100 billion to many charitable activities and sponsorship for educational, sport, and cultural activities as well as the construction of gratitude houses. Social activities have been implemented effectively with the right selection people, which contributes greatly to the social security activities and supporting programs at local level across the country. Both of the sayings “the good leaves protect the worn-out leaves” and “Let every man praise the bridge that carries him over” values are still kept and improved in the corporate culture of the company during the process of development of the community and country.


Towards the industry’s strongest brands of Asia


2014 is a pivotal year for the 2010-2015 5-year-term, and PV Gas has identified key tasks including: safe and effective operation, ensured safety and security of the existing gas projects, ensured efficiency in production and consumption of gas and gas products in the maximum level of ability for the customers. Specifically, the company will provide 9,510 millions of cubic meters of dry gas, and 47,200 tons of condensate and produce and consume 940 465 tons of LPG, and along with the unit members, the company will meet demands of over 70% of the country’s LPG. PV Gas will control and ensure the progress and capital for investment in construction projects, especially projects of collecting, processing, storing and distributing gas; the company also chooses the gas and gas-focused services as its focuses as well as continue reviewing the external portfolio and adjusting the types of projects to choose the suitable ones for investment, which helps ensure the efficiency and reduce costs in business operations. Besides, the company will mange the contracts of buying, selling and transporting gas more efficiently and focus investment on building and developing PV Gas’s brand nationally and internationally.


To complete the political mission, Do Khang Ninh, the General Director of PV Gas, said that the entire staff of PV Gas will attempt to make challenges into opportunities to promote business production, continuing to restructure the company more professionally, efficiently and worth being the leading role of the Vietnam’s gas industry, and reach out the company’s activities beyond the Vietnam’s border to become a strong brand name in the gas industry of the Asia.




Đăng ký: VietNam News