AsemconnectVietnam - At the meeting to review the work between the 2020 - 2025 term, Vietnam Oil Corporation - PVOIL (OIL code - UPCoM) announced the results of production and business activities in the first 6 months of 2023.

The Board of Directors assessed that many targets of the production and business plan (2021 - 2025) were completed with a high rate, over 50% compared to the plan for the whole term.
Specifically, crude oil exports and crude oil sales to BSR reached 21.8 million tons (reaching 67%); petroleum trading reached 9.68 million m3/ton (53%); total consolidated revenue reached VND206.6 trillion (reaching 71.2%); total consolidated pre-tax profit reached VND2,310 billion (reaching 75%); new development of 108 petrol stations (reaching 67.5%).
In terms of business results in the first 6 months of 2023, the main production and business targets achieved a high rate compared to the whole year plan. In which, petroleum trading output reached 2,465 thousand m3/ton. Accordingly, PVOIL's consolidated revenue reached VND43,478 billion; consolidated pre-tax profit reached VND470 billion; Consolidated state budget payment reached VND4,673 billion.
At the 2023 Annual General Meeting of Shareholders, OIL shareholders approved the 2023 plan with a total consolidated revenue of VND50,000 billion; consolidated profit before tax VND600 billion.
Thus, after the first 6 months, the Company has completed approximately 87% of the revenue plan and 78.3% of the year profit plan.
In addition, PVOIL continues to promote comprehensive technology application, automation and digital transformation with the goal of increasing business efficiency, improving customer experience and creating competitive advantages on the market.
In the first 6 months of the year, sales volume through PVOIL Easy channel reached more than 60 thousand m3, completing 60% of the year plan, averagely 332 m3/day, up 34% over the same period. The whole Corporation has developed 44 new petrol stations, reaching 86% of the year plan; bringing the total number of petrol stations in the whole system to 699 petrol stations. At the same time, member units have promoted the operation efficiency of nearly 300 Vinfast electric vehicle charging stations at PVOIL petrol stations nationwide...
N.Nga
Source: VITIC/Tinnhanhchungkhoan