PVN’s Chairman – Mr. Tran Sy Thanh worked with PTSC

On March 22nd, Mr. Tran Sy Thanh - Member of the Party Central Committee, Deputy Head of the Central Economic Board, Chairman of PVN led the delegation of PVN working with PetroVietnam Technical Services Corporation (PTSC). 

Joining the delegation were Mr. Pham Xuan Canh - Member of PVN’s Board of Directors; Vice President - Mr. Nguyen Sinh Khang, Mr. Nguyen Quynh Lam; Chairman of PVN’s Labor Union - Mrs. Nghiem Thuy Lan; executives and heads of specialized departments.

Chairman of PVN -  Mr. Tran Sy Thanh spoke at the meeting.

As PTSC part, were Party Secretary, Chairman of the Board of Directors – Mr. Thai Quoc Hiep; CEO and President – Mr. Phan Thanh Tung; Members of Board of Directors, as well as managers of specialized departments of PTSC.

CEO and President of PTSC, Mr. Phan Thanh Tung reported to Mr. Tran Sy Thanh the overview of PTSC, structure, organization chart, personnel system; financial situation; the implementation of the production and business planning in 2018 and the estimated results of the first quarter of 2018.

Member of The Board of Directors - Mr.  Pham Xuan Canh spoke at the meeting

Mr. Phan Thanh Tung emphasized: Although the average oil price in 2018 has returned to the level of over $ 50 / barrel, however, it still remains unstable, even more difficult, and more severe than the previous period; the oil and gas industry has experienced a long enough difficult period to re-establish new standards and new ways of operating.

In the context of such difficulties, PTSC has urgently implemented a series of drastic and strong solutions to strengthen the business development, reduce the expenses and practice to saving in production and business in order to minimize the costs in the current difficult context. As a result, estimated consolidated revenue of the whole corporation reached VND 3,161 billion, achieving 135% of the plan for the 1^st quarter of 2018.

CEO and President of PTSC Mr. Phan Thanh Tung reported to the delegation

CEO and President of PTSC Mr. Phan Thanh Tung also made suggestions and recommendations to PVN on support policies in the country, in the industry; PVN considered that the Government might have more policies to improve and support enterprises such as tax and customs policies, etc., allowing imported components direct serving the manufacture of key mechanics products to also entitled to incentives; research, promote comprehensive, profound restructuring, bring the business conditions and environment to equal level with competitors; support and solve the backlog, difficulties in production and business operations, financial ...

Under the leading of Chairman of PVN - Mr. Tran Sy Thanh, managers of PVN, leaders of specialized departments of PVN, together with managers of PTSC exchanged, discussed, found directions and specific solutions to solve difficulties of PTSC in business and production activities, restructuring, etc

Overview of the meeting between PVN and PTSC

At the meeting, Chairman of PVN - Mr. Tran Sy Thanh sent congratulations to managers, leaders and employees of PTSC for their hard working, excellent achievements in the past years. Mr. Tran Sy Thanh expressed his wish that, in the coming time, PTSC's managers, leaders and employees continue to unite, consensus, recognize and actively respond by fundamental measures, promote the achievements to make the premise to successfully achieve the task of 2018 and the next years.

On the recommendations and proposals of PTSC, Mr. Tran Sy Thanh asked the Members’ Council, General Director Board, the professional departments of the Group to jointly research and find solutions to PTSC, especially in terms of restructuring, mechanism entanglement.

Summing up in 2017, PTSC recorded consolidated revenue of VND 14,800 billion, achieving 114% of the year’s plan; profit before tax reached VND 1,000 billion, reaching 143% of the year’s plan.

PTSC is one of the few petroleum service units with good business results in the context of many difficulties and challenges. These achievements have positively contributed to the overall success of PVN in 2017.

Petrotimes.vn