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.

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.

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.