In the first quarter of 2017: PVN surpassed all targets

PVN
11:46' SA - Tuesday, 16/05/2017

In the first 3 months of 2017, the production and business norms, especially the oil and gas exploitation output of Vietnam National Oil and Gas Group (PVN), exceeded 4-16% of the plan. Financial indicators of PVN include total revenue and state budget, which exceeded the target and higher than the same period of 2016.


Ca Mau Gas Processing Plant received the first gas stream on March 12, 2017

Total oil output in March reached 2.35 million tons, surpassing 4.9% of the first quarter plan, in the first quarter reached 6.47 million tons, exceeding 5.3% of the first quarter plan, of which: oil production in March reached 1.35 million tons, exceeding 2.6% of the monthly plan, in the first quarter reached 3.95 million tons, surpassing 5.0% of the first quarter plan; gas production in March reached 1.0 billion cubic meters, surpassing 8.2% of the month plan, in the first quarter reached 2.52 billion cubic meters, exceeding 5.7% of the first quarter plan.

Regarding electricity production, in March 2017, the Group produced 2.06 billion kWh, surpassing 5.0% of the month plan, in the first quarter reached 5.44 billion kWh. Fertilizer production in March reached 152 thousand tons, surpassing 2.5% of the month plan, in the first quarter reached 447 thousand tons, exceeding 9.7% of the first quarter plan, of which: Phu My Fertilizer Plant reached 220 thousand tons; Ca Mau Fertilizer Plant reached 227 thousand tons. Total petroleum production of the Group in March reached 585 thousand tons, exceeding 16.4% of the month plan, in the first quarter reached 1.69 million tons, exceeding 15.5% of the first quarter plan.

Industrial production value in the first quarter reached 116 trillion, exceeding 7.4% of the first quarter plan and 27% of the year plan. The total revenue of all units of the Group in the first quarter reached 117.1 trillion VND, surpassing 16.0% of the first quarter plan and total consolidated net profit in the first quarter reached 5.1 trillion VND, surpassing 18.0% of the first quarter plan and 30% of the year plan.

In the first quarter, PVN paid VND20.8 trillion to the state budget, surpassing 12.2% of the first quarter plan.

Oil and gas exploration and exploitation continues to be implemented as planned.

The safety and maintenance of 24/24 hours on the occasion of the Lunar New Year was carried out strictly by the oil and gas contractors and units, without incident; Communication work is maintained smoothly, all PVN units are able to keep pace with normal production and business. The financial targets of PVN include total revenue and state budget have exceeded the plan and higher than the same period of 2016, namely: PVN's total revenue exceeded 15.8% of the plan, up 26.6% over the same period in 2016; Paying the state budget exceeded 12% of the plan, up 19% over the same period in 2016. Investment projects of PVN and its subsidiaries are strictly controlled.

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PVI Financial Statements 2016

PVI would like to present the audited financial statements of the year 2016 to our valued shareholders, clients and partners
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