Workers of the Vietnam Oil and Gas Group (Petrovietnam) (Photo: www.hanoimoi.com.vn) The ongoing pandemic has dealt a majorblow to the group’s major activities. Of particular note, dry natural gasconsumption and supply saw a decline of 15 percent in January-August comparedto the same period last year.
In addition, the firm is facingdifficulties in mechanisms and policies and asking to streamline excessive procedures.
Amid such challenges, PetroVietnam GeneralDirector Le Manh Hung has ordered serious implementation of preventivemeasures.
In a bid to ensure health conditions forworkers and maintain stable and safe operations and investment, four groups oftasks and solutions have been devised to combat COVID-19.
The company has exerted efforts inensuring health for workers and adhering to COVID-19 prevention and control.It also worked to access COVID-19 vaccines and roll out inoculation drive for workers.
In addition to implementing the 'three on the spot' and 'one route, two destinations' models, PetroVietnam has taken the initiative inapplying scenarios in case a COVID-19 infection is detected to deviseappropriate solutions, as well as ensuring input materials so as to stabilisethe market.
It also strives to guarantee progress ofinvestment projects, especially ones that are due in 2021 and the following year.
PetroVietnam reported that its pre-taxprofit in the first eight months of the year surpassed the set plan by 177percent and tripled the figure for the same period last year, reaching 30.2trillion VND (1.32 billion USD).
During the period, the group’s crude oiloutput surpassed the plan by 12.7 percent, and the outputs of petrol, oil andfertiliser were also higher than the targets.
The group's total revenue hit over 390.7trillion VND, exceeding the plan by 17 percent and up 24 percent on a yearlybasis. Its contribution to the State budget soared by 38 percent to 56.9trillion VND.
PetroVietnam cut costs by 2.04 trillionVND, equivalent to 75 percent of its yearly target. It also contributed 733.8billion VND to the COVID-19 fight, of which 554.9 billion VND went to theCOVID-19 vaccine fund.
The group has been reviewing legalregulations to identify any obstacles to its operations and propose settlementrecommendations.
The Resolution of the 13th NationalParty Congress views institutional reform and completion as one of the threestrategic breakthroughs for the 13th tenure.
During its operation, PetroVietnam hasrealised that many legal regulations have affected its operations.
Not only hoping for the current Oil andGas Law to be amended to create a driving force for sustainable development,the enterprise has also been working to review obstacles that legal regulationshave caused for its operations so as to submit revisions to competent agencies.
At present, there are about 60 contentsand issues related to legal rules that need to be amended to create optimalconditions for the development of not only PetroVietnam but also otherbusinesses, such as some stipulations in the Law on Public Investment, the Lawon the Management and Use of State Capital, the Law on Enterprises, and the Lawon Bidding.
For example, under the existing Law onBidding, PetroVietnam will encounter difficulties in executing investmentprojects, especially its joint projects with foreign partners, which may leadto slow implementation and subsequently, economic losses.
In addition, given the oil and gasindustry’s specific features, a number of problems facing PetroVietnam’soperations have yet to be mentioned, fully mentioned, or properly mentioned incurrent laws.
Apart from reviewing legal barriers, thegroup is also coordinating with the Ministry of Industry and Trade to draft therevised Oil and Gas Law, which is expected to be submitted to the NationalAssembly at the coming session./.
VNA
