PVN's supervision team works at PVOIL

On October 9, 2023, the Supervisory Team of the Board of Management of Vietnam Oil and Gas Group, led by Mr. Bui Minh Tien, Member of the PVN's Board of Management, and representatives of the PVN's Divisions, met with the leaders of PetroVietnam Oil Corporation. The meeting was organized in accordance with the strategy and regular monitoring material outlined in PetroVietnam's Board of Management' 2023 Work Program.

Mr. Cao Hoai Duong, Secretary of the Party Committee, Chairman of the PVOIL Board of Management, PVOIL President & CEO Doan Van Nhuom, also Member of the Board of Management, as well as members of the Board of Management, Board of General Directors, Supervisory Board, Chief Accountant, and Heads of PVOIL Divisions and Offices, attended the meeting.

At the meeting, PetroVietnam's capital representative at PVOIL reported on financial, accounting, and commercial management, investment management, restructuring work, management, and internal control topics. At the same time, PVOIL's current issues, problems, and recommendations were presented. Leaders of the Group's specialist divisions provided input on certain items and suggestions.

Mr. Bui Minh Tien concluded the meeting by acknowledging and highly appreciating PVOIL in the management and operation of production, business activities, and the outstanding results of restructuring in accordance with the Group's Resolutions on PVOIL's arrangement, as well as the business plan for the period 2020-2025. The findings demonstrate the correct policy and dedication in implementation, with first clear outcomes.

Furthermore, PVOIL has demonstrated its dynamism and initiative in business model transformation solutions to adapt to the process of digital transformation and energy transition; enhance the system's current advantages to produce non-petroleum goods and services. PVOIL has completed numerous specified targeted milestones, with the goal of completing the 5-year production and commercial plan for 2021-2025.

Mr. Bui Minh Tien stated that the PetroVietnam Board of Management will continue to have support mechanisms and create appropriate conditions for PVOIL to increasingly effectively carry out production and business activities in the period 2021-2025 and Development Strategy until 2023, vision to 2045 in accordance with the Group's development orientation.

Mr. Bui Minh Tien, Member of the Board of Management of Vietnam Oil and Gas Group chairs the meeting

Mr. Cao Hoai Duong, Chairman of the Board of Management of PVOIL speaks at the meeting

PVOIL President & CEO Doan Van Nhuom, Member of the Board of Management of PVOIL speaks at the meeting.

Mr. Nguyen Dang Trinh, Member of the Board of Management, Vice CEO of PVOIL speaks at the meeting

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