PV Gas strives to complete 2024 goals towards green energy development
PV Gas, under state-owned Petrovietnam, exceeded its targets for the first half of 2024 and will continue its role as a leading gas business in Vietnam towards the country’s green energy transition.
In a Monday release, PV Gas CEO Pham Van Phong highlighted the firm’s achievements in the first six months of this year, such as liquefied petroleum gas (LPG) exceeding the target by 11% and H1/2023 result by 38%.
The firm’s revenue in H1/2024 went up 12% year-on-year, and was 11% beyond the target.
PV Gas CEO Pham Van Phong. Photo courtesy of PV Gas.
Its pre-tax profit increased 8% year-on-year and reached 180% of the target. PV Gas’s contribution to the state budget was twice the target and rose 13% year-on-year. Its disbursement for construction was equivalent to 124% of the goal.
Phong attributed the strong performance to the leadership’s determined, persistent and synchronous implementation of executive decisions, business expansion in foreign markets, cost optimization, and staff unity.
For H2/2024, Phong emphasized the goals will not be easy, amid unfavorable and volatile factors. As a result, Phong requested the firm’s executive board and workers to put H1/2024's momentum into H2/2024 and beyond.
A vessel delivers LNG to a PV Gas terminal. Photo courtesy of PV Gas.
The outcomes of 2024 depend entirely on the efforts of the firm’s leadership and workers, Phong added. Firstly, the leadership must show consistent management to achieve the goals, while focusing on overcoming shortcomings and removing bottlenecks to promote the activities of the firm, and developing a specific plan for each target.
Second, PV GaS employees must unite, give their all, and work together to overcome difficulties. He also called on all staff to exert maximum efforts with renewed motivation and genuine solutions amid volatilities.
Emphasizing PV Gas and Petrovietnam’s leading role set by the Party and the government for Vietnam’s competitive energy market, PV Gas’s leadership expects all staff to work together with determination and synchronous efforts to fulfill the targets for 2024 and beyond.
- Related News
- Read More
Foreign internet-based service providers pay Vietnam $253 mln in taxes in 8 months
Vietnam collected nearly VND6.2 trillion ($252.6 million) from foreign internet-based service providers via a local tax payment portal in the first eight months of 2024, up 24% year-on-year.
Finance - Mon, September 16, 2024 | 12:32 pm GMT+7
Vietnam seeks Samsung collaboration to train semiconductor engineers
Samsung should continue cooperating with the National Innovation Center (NIC), under the Ministry of Planning and Investment (MPI), to help Vietnam’s target of training 50,000 semiconductor engineers by 2030.
Companies - Mon, September 16, 2024 | 11:07 am GMT+7
HSBC Vietnam’s post-tax profit falls one third in H1
HSBC Bank (Vietnam) Ltd., under London-headquartered lender HSBC, recorded a post-tax profit of VND1,787.1 billion ($72.8 million) in the first half of this year, down 32.5% year-on-year.
Banking - Mon, September 16, 2024 | 8:12 am GMT+7
Lack of ‘compelling stories’ undermines stock market vibrancy: brokers
Vietnam’s stock market is yet to strike a “dragon vein” and lacks “compelling stories” to attract more investors, representatives of major broker houses in the country said at a talk show Friday.
Banking & Finance - Sun, September 15, 2024 | 8:58 pm GMT+7
First body found in northern Vietnam bridge collapse
The body of one of the eight missing victims in Phong Chau bridge collapse that occurred on September 9 in Phu Tho province, northern Vietnam was found on Saturday afternoon.
Society - Sun, September 15, 2024 | 3:00 pm GMT+7
Vietnam industrial park developer Becamex IJC to pay $10.8 mln in 2023 dividends
Becamex IJC, a leading urban and industrial park developer in Vietnam, plans to pay 2023 cash dividends to shareholders at a rate of 7% this December.
Companies - Sun, September 15, 2024 | 2:04 pm GMT+7
Investors likely required to complete 4 wharves of HCMC’s $5.5 bln Can Gio port in 5 years
Investors should complete four out of seven main wharves of the $5.5 billion Can Gio "super" port in Ho Chi Minh City within five years, said Deputy Prime Minister Tran Hong Ha.
Infrastructure - Sun, September 15, 2024 | 9:23 am GMT+7
Credit institutions in Vietnam boast total assets of over $858 bln
Total assets of the credit institutions in Vietnam had reached over VND21,070 trillion ($858.4 billion) as of June 30, 2024, up 4.97% from the end of 2023, according to the Vietnam Bankers Association.
Banking - Sun, September 15, 2024 | 8:13 am GMT+7
Three provincial officials charged with illegally refunding VAT for solar power project
Three officials from Binh Phuoc province's Tax Department in southern Vietnam have been investigated for “showing a lack of responsibility, causing serious consequences” in a case involving a value added tax (VAT) refund to Loc Ninh 3 Energy JSC.
Society - Sat, September 14, 2024 | 11:23 pm GMT+7
Vietnam’s sluggish LNG-fired power projects can be expedited only under nation’s legal framework: Minister
Vietnam is striving to speed up progress on two sluggish LNG-fired power projects – Son My 1 and Son My 2 – but this has to happen within the nation’s legal framework, says Minister of Industry and Trade Nguyen Hong Dien.
Energy - Sat, September 14, 2024 | 11:07 pm GMT+7
Uniqlo to open first store in central Vietnam next year
Japanese clothing brand Uniqlo will open its first store in Vietnam’s central region in 2025, at the Aeon Mall Hue in Thua Thien Hue province.
Companies - Sat, September 14, 2024 | 7:00 pm GMT+7
From Mozambique to Vietnam: A journey to wisdom
A young Mozambican student, Oraiden Manuel Sabonete, is making waves with a rich tapestry of languages and a deep-seated passion for cultural immersion after nearly five years studying in Hanoi.
Travel - Sat, September 14, 2024 | 3:43 pm GMT+7
PV Gas supplies rail-transported LNG to first customer in northern Vietnam
Vietnam CNG JSC (PV Gas CNG), a subsidiary of PV Gas, has completed the delivery of liquefied natural gas (LNG) transported by rail from the south to its first customer in northern Vietnam.
Companies - Sat, September 14, 2024 | 3:26 pm GMT+7
Thailand’s Central Retail opens $13 mln mall in Ha Nam province, 40th in Vietnam
Thailand’s leading retailer Central Retail opened a mall under its GO! brand in the northern province of Ha Nam on Saturday, its 40th facility in Vietnam.
Industries - Sat, September 14, 2024 | 3:10 pm GMT+7
Airport Construction Corp-led consortium wins $260 mln Long Thanh airport bidding package
A consortium led by state-controlled Airport Construction Corporation (ACC) has won a VND6.37 trillion ($260 million) bidding package for construction of and equipment installation for aprons at the Long Thanh International Airport in the southern province of Dong Nai.
Infrastructure - Sat, September 14, 2024 | 2:18 pm GMT+7
Vietnam auto sales up 2% to 188,997 units in Jan-Aug
Members of the Vietnam Automobile Manufacturers' Association (VAMA), not including VinFast and Hyundai, sold 188,997 units in the first eight months of 2024, up 2% year-on-year.
Companies - Sat, September 14, 2024 | 10:44 am GMT+7
