PV Gas has completed more than 80% profit target in 2018 in the first half of the year

PV Gas stated that in the first six months of 2018, PV Gas has achieved more than the business targets including financial targets are from 35-65%, increasing 12-30% in the year of 2017.

In the first 6 months of 2018, gas system of PV GAS is stable, supplying safely and continuously. Real oil prices were about $ 71 a barrel, up 42% from the planned price. For that reason, PV GAS has been able to achieve its business targets which are higher than the 6-month plan.

Output (LPG, dry gas, condensate) in 6 months is estimated to exceed 5 - 56%, equivalent to output in the same period in 2017; Turnover is estimated at VND37,455 billion, equal to 135% of 6-month plan (66% of the whole year 2018 plan); pre-tax profit is estimated at VND6,602 billion, equal to 156% of the plan for 6 months (82% of the year plan); Profit after tax was estimated at VND5,323 billion, equal to 157% of the plan for 6 months (83% of the plan). State budget is estimated at over 2.5 trillion dong, equal to 165% of the plan for 6 months (87% of the year plan).

PV Gas has achieved almost business and production targets in the first six months of 2018.

For restructuring activities, on April 20^th 2018, PV GAS completed the whole withdrawal of its capital at Gas City; PV GAS is also cooperating with Vietnam Oil and Gas Corporation (PVN) to hire valuation consultants, consultants for construction and implementation of PVN's capital withdrawal plan at PV GAS to at least 65% of charter capital; PV Gas's capital raising plan at PV GAS North will be implemented to 51% of chartered capital; Reviewing, developing plans to restructure the member units of PV GAS; Restructuring PV GAS Organization.

In the first 6 months of 2018, PV GAS also actively implemented social security activities, with the disbursement of social security programs is over VND 25 billion.

Mai Phuong