Nghi Son will be the key oil and gas complex project of the North

Petrovietnam has built an investment strategy with four key national oil and gas centers, of which Nghi Son is the key oil and gas complex project of the North and the Nghi Son Petrochemical Complex as the nucleus ...

On the afternoon of December 2, in Thanh Hoa, the General Director of Vietnam Oil and Gas Group (Petrovietnam) Le Manh Hung, leading the delegation of Petrovietnam, had a working session with Thanh Hoa Provincial Party Committee Standing. Welcoming the delegation were Mr. Do Trong Hung, Secretary of the Provincial Party Committee and members of the Standing Committee of the Provincial Party Committee, leaders of Departments, Management Board of Nghi Son Economic Zone.

Joining the delegation of Petrovietnam, were Member of the Board of members, Mr. Nguyen Hung Dung, Deputy General Director Le Xuan Huyen, leaders of Nghi Son Oil Refinery Distribution Branch, PTSC Thanh Hoa and Specialized Departments, Group Office.

General Director of Petrovietnam Le Manh Hung exchanged with Thanh Hoa Provincial Party Secretary Do Trong Hung about the Group's investment strategy.

Speaking at the meeting, Mr. Le Manh Hung expressed his delight at the success of the Party Congress of Thanh Hoa province.

On behalf of the leaders of the Group, Petrovietnam's General Director Le Manh Hung informed Mr. Do Trong Hung and the leaders of Thanh Hoa province about difficulties, challenges and business results that Petrovietnam has achieved. The General Director of Petrovietnam also emphasized the importance of close cooperation, support and facilitation of Thanh Hoa government and people in the construction and operation of Nghi Son Petrochemical Complex project.

Mr. Le Manh Hung shared, year of 2020 is a very special year for the international oil and gas industry in general and Petrovietnam in particular. Large fluctuations due to the Covid-19 pandemic and the unusual rule of supply and demand of crude oil caused a record of decrease in oil prices  down to - $ 37.6 / barrel. According to the Group's calculations, as long as the oil price decreases by 1 USD as planned, PVN will lose revenue of about 4.6 trillion dong, reducing the contribution to state budget about 2 trillion dong.

On behalf of the Group's leaders, Petrovietnam's General Director Le Manh Hung presented the symbol of the oil and gas industry to Mr. Do Trong Hung.

In that context, the employees of Petrovietnam have made efforts to overcome difficulties, implement synchronous solutions to improve production and business efficiency, so basically, they have met and exceeded the main targets in the plan of 2020. For the being time, the corporation's revenue is estimated at 487 trillion dong, exploiting about 18.12 million equivalent tons of oil, 10.6 million tons of petroleum, contributed to the state budget about 61 trillion dong

For Nghi Son Refinery and Petrochemical Complex, General Director of Petrvietnam emphasized that this was a new factory operating, so it will surely face many difficulties, high pressures due to competition in the market (both domestic and foreign), the level of stability and continuity of quality, method of sale, distribution ... Yet, the efficiency and value of Nghi Son Petrochemical Refinery is undeniable at the present as well as in the future.

Overview of the meeting between Petrovietnam and the Standing Committee of Thanh Hoa Provincial Party Committee.

Secretary of the Thanh Hoa Provincial Party Committee Mr. Do Trong Hung emphasized that, with the investment interest of Petrovietnam and the active activities of the affiliated units, Thanh Hoa has so far collected nearly 29 trillion dong for the budget; seted a target in the term 2020-2025 for Thanh Hoa to be the province where the revenue and expense are balanced and to contribute back to the Central.

It can be seen that the development of Nghi Son Refinery and Petrochemical Complex to become the petrochemical refinery center is the nucleus for local economic development. This benefit of the country and people required not only the efforts of the Government and investors, but also a great support from the ministries and central branches.

Thanh Cong