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The 3rd Conference of Party Executive Committee of Petrovietnam Gas Joint Stock Corporation

Party Executive Committee of Petrovietnam Gas Joint Stock Corporation (PV GAS) on October 6 successfully organized its 3rd Conference at PV GAS’ headquarters in Ho Chi Minh City.

Mr. Duong Manh Son, Secretary of Party Committee and General Director of PV GAS, chaired the Conference. Comrade Nguyen Sinh Khang, Chairman of the Board of Directors; comrades of the Party Committee’s Standing Board, and the Party Executive Committee; leaders of Trade Union, other organizations and unions, and related departments and units participated in the Conference.

The Conference reviewed and approved the Draft of the Report on working results of the first 9 months of 2020, and the Party’s tasks of the Corporation in the last 3 months (Party’s political tasks and establishment); the Draft of the Resolution on strengthening leadership of socio-political organizations; the Draft of regulations on the working relationship between the Party Executive Committee, the Standing Board of the Party Committee, and the Board of Directors and General Director of PV GAS.

The Report on working results of the first 9 months of 2020 showed that in spite of many difficulties, with the solidarity and determination of the Leaders and Employees, PV GAS had constantly tried to overcome them and completed most of the main targets of the first 9 months plan assigned by the Vietnam Oil and Gas Group. PV GAS exceeded the output and financial goals by 3-51 per cent and 7- 64 per cent representatively.

PV GAS specifically admitted 6,978.3 million cubic metres of wet gas, equaling 101 per cent of the 9-month plan; Producing and supplying nearly 6,800 million cubic metres of dry gas, equaling 103 per cent of the 9-month plan; Producing and trading nearly 1,450 thousand tons of LPG, equaling 151 per cent of the 9-month plan and completing the plan of the whole year; and Producing and supplying 44.5 thousand tons of condensate, equaling 109 per cent of the 9-month plan.

Those results led PV GAS’s total revenue to be nearly VND49,500 billion in the first 9 months of 2020, achieving 107 per cent of the 9-month plan. Its profit before tax was estimated at VND 7,575 billion, achieving 128 per cent of the 9-month plan. Its post-tax profit reached more than VND 6,000 billion, achieving 127 per cent of the 9-month plan. Its contribution to the State budget was estimated to be more than  VND 3,500 billion, achieving 164 per cent of the 9-month plan and completing the 2020 plan.

However, the achieved financial goals were lower than the same period of 2019, mainly due to the 12- per cent decrease in onshore gas output, and the drop of average Brent and FO oil prices by 37 per cent and 40 per cent representatively. The average CP price of LPG decreased by 10 per cent.

In the last 3 months of 2020, the Standing Board of the Party Committee, the Party Executive Committee of the Corporation will focus on leading and directing committees / authorities / unions to continue carrying out the Party Committee of the Corporation’s Resolution No. 83-NQ / ĐU dated January 9, 2020 on leadership in the implementation of production and business tasks in 2020. They will review, amend, supplement and complete the Regulation on personnel management of the Corporation to conform to the State's documents, Laws, the Party Committee of Vietnam National Oil and Gas Group and the practical situation of the Corporation. They will continue implementing the 2020 inspection and supervision program of the Party Committee and Party Committee's Inspection Committee; Improve leadership capacity, sense of responsibility of Party committees at all levels and officials who work part-time, advise and assist Party committees; Summarize the activities of 2020, set up directions and goals of 2021; and build the 2021’s working program of the Party Committee; ...

With the spirit of urgent and serious working, the 3rd Conference of the Party Executive Committee of Petrovietnam Gas Joint Stock Corporation was completed according to all the proposed contents and programs. The Conference especially approved the Regulation on the working relationship between the Party Executive Committee, the Standing Board of the Party Committee and the Board of Directors and General Director of Petrovietnam Gas Joint Stock Corporation; the Resolution on strengthening the leadership of the Party, and improving the effectiveness of operations of affiliated socio-political organizations in the 2020 – 2025 period.

To conclude the Conference, the Secretary of the Party Committee, General Director of PV GAS commended the Conference’s participated comrades for raising their sense of responsibility, promoting democracy, frankly discussing, and giving many important ideas on the drafts and reports at the Conference. The Party Executive Committee has received reasonable and unified opinions through the Conference’s contents. He emphasized that the challenges in the remaining 3 months of 2020 as well as in the coming time always required the entire Party Committee, leaders and employees of PV GAS to make their best efforts, promote solidarity and deserve with the given trust for the leading enterprise of Vietnam National Oil and Gas Group.

On this occasion, the Party of Petrovietnam Gas Joint Stock Corporation awarded the 30-year-old Party badge to comrade Hoang Minh - Secretary of the Party Branch and Director of Nam Con Son Gas Pipeline Company while it also held a farewell meeting for Mr. Nguyen Si Dam - Chief of the Office of the Corporation’s Party Committee to finish working time and retire under the social insurance regime.

© Copyright PETROVIETNAM GAS JOINT STOCK CORPORATION (PV GAS)
Address: Floor 12-15, PV GAS TOWER, No. 673 Nguyen Huu Tho Street, Phuoc Kien Commune, Nha Be District, Ho Chi Minh City.
Phone: +84.28. 3781 6777 Fax: +84.28. 3781 5666 Email: pvgas@pvgas.com.vn

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