PVOIL reports success in fighting pandemic, promoting humanity value in 2020

26.12.2020

00:00/00:00

On December 25th 2020, in Ho Chi Minh City, PetroVietnam Oil Corporation (PVOIL) held a conference to summarize the corporation’s Party's activities, production and business achievements in 2020 and the Conference of Employees in 2021.

The meeting was attended by Mr. Cao Hoai Duong - secretary of the corporation’s Party Committee, and Chairman of the Board of Management, President & CEO Doan Van Nhuom, and Mr. Doan Duy Cong – Chairman of the Corporation Trade Union.

The event also received participation of members of the corporation’s Party Committee Executive Committee, Board of Management, Board of Directors, Trade Union, Youth Union and 250 delegates from departments, offices, affiliates and member units of the corporation.

2020 is the final year of the 2015-2020 term and the first year of the 2020 - 2025 term which has several important tasks placed by the corporation’s Party Committee. It can be said that this is the year with the most difficulties since PVOIL was founded. The double impacts of the Covid-19 pandemic and the decline in oil prices have seriously affected PVOIL's business activities.

Facing the unprecedented difficulties, PVOIL has deployed several solutions to minimize the negative impacts from the market and continued to successfully implement key tasks, contributing to the Corporation's development strategy.

Accordingly, PVOIL has beaten production and sale targets of crude oil, petroleum, revenue as well as the State budget contribution. In particular, sales volume through retail channel at PVOIL's petroleum retail network remained stable, equivalent to 2019’s achievements despite pandemic.

Sales volume via PVOIL Easy's non-cash payment platform continued to grow. The sale volume through the channel was estimated to reach 65,000 cubic meters in 2020, completing 122% of the whole-year plan.

Averagely, every month sale volume through the channel reached 5,416 cubic. The amount is equivalent to the output of 51 petrol stations. The connection with the country’s largest electronic payment applications will be expanded, increasing convenience for customers.

Despite having to do business in the difficult conditions of society and the economy, PVOIL could demonstrate humanity aspect. Its culture values continued to be promoted thanks several practical and meaningful charitable programs to support the community. PVOIL donated 9 tons of rice for the operation of Rice ATM, which offered free rice to the poor. It also gave away 50,000 medical masks to customers and people at PVOIL's petroleum stations.

Beside, PVOIL petroleum depots actively offered free lunches to truck drivers, who could not restaurants to eat due to the social distancing campaigns. The petroleum retailer donated 100 million VND to buy virus testing kit.

With the spirit to support the Central Region, which suffered from floods and storms, PVOIL donated petroleum to 1,402 vehicles carrying goods to support people in central provinces. Total cost of the campaign was 415 million VND.

At the conference, PVOIL President & CEO Doan Van Nhuom acknowledged and highly appreciated the efforts of the employees of the corporation in a very difficult year of the global economy as well as the oil and gas industry.

In order to realize the tasks placed for 2021, the General Director of PVOIL suggested all units focus on assessing the market situation and lessons learned in 2020 for better in 2021. The corporation was advised to strengthen coordinating between units to perform well the assigned business and political tasks for good business results right from the early days of 2021.

Concluding the conference, Mr. Cao Hoai Duong - Secretary of the Party Committee and Chairman of PVOIL emphasized the unprecedented impacts of the Covid-19 pandemic in the world. He praised PVOIL leaders and staff members for their effort striving for remarkable achievements in 2020.

The Party Committee of the Corporation instructed to organized the Party Congress of the corporation at all levels with thorough preparation, ensuring the success of the event and the content of the congress. At the same time, organisers ensured safety more than 1,500 party members and delegates attending the party congress amid pandemic.

Regarding production and business activities, PVOIL has managed the inventory, the sources of goods well to to minimize damage. Sales of the retail channel was maintained well despite pandemic. Sales through PVOIL Easy grew strongly also. Besides business units reporting losses, there were still units that have completed and exceeded the profit goal. When the pandemic broke out, PVOIL quickly developed response scenarios and cost reduction options corresponding to each scenario.

With the “belt-tightening” policy, PVOIL could minimize costs, resulting a minimized losses in the unfavorable business conditions. Corporation and its units have quickly applied the social distance regime, working remotely during the outbreak. One of PVOIL's success is that more than 3,000 employees at nearly 600 petroleum stations and more than 1,000 employees at its petroleum storage system were safe despite having to contact with several customers.

During the pandemic, many enterprises, including large enterprises had cut staff, reduce salary, PVOIL did not have any employee laid off due to the impacts of the Covid-19 pandemic. Incomes of the workers were maintained well.

For the tasks in 2021, Chairman Cao Hoai Duong assigned the Corporation and its units to focus on restructuring PVOIL in the period of 2020-2025 which was approved by the Vietnam Oil and Gas Group, and increase business efficiency.

In addition, the Corporation and its units were asked to invest in the expansion of its petroleum retail system, which is an effective and sustainable sales channel and contributes to its business value increase. The plan will be a base for adapting and converting business plans when the demand for energy gradually shifts from fossil energy to renewable energy.

On this occasion, PVOIL organized the award ceremony where the Party committees, the Commission for the Management of State Capital at Enterprises, the Petroleum Trade Union and the PetroVietnam Oil Corporation to present awards to collectives and individuals with outstanding achievements in 2020.