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PVOIL (OIL) determined to complete the 2024 management plan of Vietnam Oil and Gas Group 

 Thursday, March 28,2024

AsemconnectVietnam - Petroleum business output in the first 2 months of 2024 of the entire PVOIL system increased by 22% compared to the same period in 2023. This will be the premise for PVOIL to aim to increase business output and complete its revenue targets and consolidated profit.

Taking advantage of the development momentum, position and strength achieved in 2023, Vietnam Oil Corporation (PVOIL - stock code OIL) and its member units must focus highly on product management and administration. Exporting and doing business right from the first months of 2024 with the highest spirit and determination to strive to complete the 2024 plan targets assigned by the Vietnam Oil and Gas Group; especially the system-wide consolidated revenue and profit targets.
Adopting the motto "Managing fluctuations; Add new motivation; renew old motivation; create new energy sources; reaching the heights" of the Group, PVOIL organized a Conference to thoroughly grasp, discuss and agree on solutions to complete the management plan according to Decision No. 529/QD-DKVN dated February 15, 2024 of the Group . The conference took place on the morning of March 5, 2024, chaired by Mr. Doan Van Nhuom, General Director of PVOIL, with the participation of PVOIL's affiliated units and member units.
The general report records that petroleum business output in the first 2 months of 2024 of the entire PVOIL system increased by 22% compared to the same period in 2023. With the results achieved and positive changes at the beginning of the year, this will be the premise for PVOIL to aim to increase business output and complete consolidated revenue and profit targets.
At the Conference, petroleum business units in the PVOIL system reported plans and solutions to implement planned targets in the spirit of proactively receiving direction from the Corporation and being highly determined to complete their tasks.
On the basis of analyzing and evaluating the advantages and disadvantages of the market, as well as the capacity and development potential of petroleum business units throughout the system, Mr. Doan Van Nhuom, General Director of PVOIL, directed Directing the specialized departments of the Corporation must promote the search for sources of goods at good prices, increase close adherence to the market and State policies to introduce policies to promote flexible business according to the market, creating motivation for business units. Based on the planning targets assigned by the Group, the Corporation will allocate implementation plans to units from the beginning of the year so that the whole system can be proactive and ready to perform tasks. On a monthly and quarterly basis, the Corporation will brief and review the implementation situation and have an appropriate operating plan.
At the same time, petroleum business units need to urgently take advantage of the experience and results achieved in 2023; Carry out good governance and market forecasting and proactively have solutions to promptly respond to market fluctuations to boost petroleum business output at favorable times.
In addition, the General Director of PVOIL directed petroleum transportation units and PVOIL petroleum depots/depositories throughout the system to coordinate synchronously with business units; Arrange personnel to work continuously to be ready to meet the 24/7 supply needs of business units.
Also at the Conference, PVOIL General Director inspected the preparations for issuing electronic invoices for each sale according to Decree No. 123/2020/ND-CP of the Government and directions of the Ministry of Finance.
Mr. Doan Van Nhuom requested all petroleum business units in the entire PVOIL system to seriously implement the instructions of the Government and the Ministry of Finance; Pay attention to ensuring the completion of the deadline for installing equipment and technical solutions according to regulations; At the same time, synthesize information to report to authorities on relevant contents during the implementation process.
Source: VITIC/Tinnhanhchungkhoan


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