PVOIL summarizes its operations in 2018

On 20th December, in Ho Chi Minh City, PVOIL held a conference to summarize the Party's work, business and production activities in 2018 and the Conference of Employees in 2019.

Attending the meeting were Mr. Nguyen Hung Dung - member of BOM of Vietnam Oil and Gas Group (PVN); Mr. Nguyen Sinh Khang - Vice President of PVN. On the side of PVOIL, there were Mr. Nguyen Hoang Tuan - Party Committee Secretary, Chairman of Board of Management, Mr. Cao Hoai Duong - President & CEO of PVOIL and Mr. Doan Duy Cong - Chairman of Trade Union.

Chairman of the Conference

Mr. Vo Khanh Hung - Party Committee Vice Secretary, on behalf of PVOIL’s Party Committee, evaluated the results of leadership in implementing targets of production and business; led the implementation of restructuring PVOIL; assessed the contents of Party Committee and union’s work at the Corporation.

Overview of the Conference

Overview of the Conference

Regarding production and business activities, PVOIL expects to complete and exceed the tasks and targets for 2018 with the following specific results: Safe and efficient export and sale all crude oil and condensate; provide adequate and timely crude oil for operation of Dung Quat oil refinery. Stabilize market share, distribution system, maintain output growth rate in line with the overall growth of the market, ensuring safety and efficiency. Complete exceeding most assigned targets, especially profit targets. Implement well the production and trading of gasoline E5 RON 92, completely replace RON 92 mineral petrol from 1st January, according to the Government’s schedule. Sales volume through direct consumption channels continues to grow, accounting for 25.3% of the total domestic consumption volume, up 2.1 percentage points over the same period in 2017.

Debt management and control, cost reduction achieved good results. Implementing Projects 1114, Project 808 on improving the quality of services in petroleum stations and petroleum storage; embellishing petroleum stations according to PVOIL’s brand identity, PVOIL Easy program, PVOIL Mobile project... to increase sales through direct retail channels and achieved positive results. Completed IPO work and officially converted to operate under joint stock company model from 1st August. Complete the system of regulations and regulations under JSC model, continue to improve the efficiency and quality of management and administration of production and business activities of the whole Corporation. Security, safety and fire prevention and fighting work are ensured, PVOIL’s entire system does not cause accidents and unfortunate damages. Union activities, social security and charity are taken care of and implemented strongly in the whole system with many meaningful activities. Communication and brand promotion continue to be promoted, helping to enhance PVOIL brand.

In addition to the report on business and production performance presented by the Planning Division, the professional divisions of PVOIL and other subsidiaries also presented presentations to highlight the contents of the Conference of interest such as: Presentation on “Overview of Vietnam’s petroleum trading market in 2018” (Petroleum Products Trading Division); Presentation on “Technology application in sales of PVOIL - PVOIL Easy” (Information Technology Division)…

In addition, at the Conference, PVOIL showed video clips of electric vehicles. This is the result of researching, finding out and synthesizing PVOIL’s image reports on the history of formation and development of electric vehicle, trend of using electric cars in the world, electric vehicle development policy in some countries. Accordingly, the use and development of electric vehicles is a trend of the world. This sets the requirements for changes and adjustments to suit the industries and related fields, including the petroleum business.

Mr. Doan Duy Cong, Chairman of PVOIL’s Trade Union, presented the report on the organization of the 2019 Employee Conference of the units; managed to elect the Dialogue Group of the Corporation in 2019.

Speaking at the conference, Mr. Nguyen Hung Dung - member of BOM of Vietnam Oil and Gas Group has affirmed the important contribution of PVOIL to PVN’s overall achievements in 2018. Expressed by the fact that PVOIL has successfully completed its tasks, not only in business but also in Party work, take care of workers’ life, apply technology 4.0, develop petroleum stores system, apply information technology to create a new direction to improve operational efficiency... especially, with the successful implementation of equitization, PVOIL has entered a new period of development. Mr. Nguyen Hung Dung believes with a solidarity, consensus, effort to overcome all difficulties, PVOIL will continue to develop sustainably to achieve many achievements in 2019; PVN commits to continue to pay attention and support PVOIL in production and business activities, implementing the legal policies of the Party and the State as well as policies with employees.

Mr. Nguyen Hung Dung – member of BOM of Vietnam Oil and Gas Group – spoke at the Conference

On behalf of the leaders and employees of PVOIL, Mr. Cao Hoai Duong - President & CEO of PVOIL received the directing opinions of Leaders of Vietnam Oil and Gas Group; thanks for the PVN’s interest and support in business activities of PVOIL as well as in the process of equitization of PVOIL. Commenting on business activities of PVOIL in 2018, Mr. Cao Hoai Duong analyzed and evaluated the causes that directly and indirectly affect the business results of petroleum. In the first 9 months of 2018, the business results of the whole system were very good. However, fluctuations in crude oil prices and the retail price of petrol and oil in the last 3 months of the year has greatly influenced PVOIL’s business results. However, PVOIL is sticking closely to price movements and offering reasonable solutions to preserve the achieved results. Meanwhile, Mr. Cao Hoai Duong emphasized the importance of inventory management, developing retail system, applying new technology to improve competitiveness and expand markets by maintaining and improve the quality of customer service at petrol and oil stores; developing new, pioneering and breakthrough solutions in sales (PVOIL Easy and PVOIL Mobile) to attract the attention of customers and partners. These solutions are affirming the effectiveness and will be the development orientation of PVOIL in the coming time.

Mr. Cao Hoai Duong – President & CEO of PVOIL spoke at the Conference

On this occasion, the Conference awarded 30-years-old Party badge to Party members who are currently active in PVOIL’s Party Committee; implement the Party content of rewarding and reward work of the Ministry of Industry and Trade, Vietnam Oil and Gas Group and commendation of the Trade Union at all levels. Especially, the Council for Emulation and Reward of PVOIL has announced and honored the awards of “the best collective and individual in 2018”. This is a private reward form of PVOIL, including:

- Award for “The best employee in 2018”: Mr. Phan Nguyen Quoc Thang - Senior Executive of Information Technology Division (parent company); Ms. Hoang Thi Nhu Quynh - Head of General Business Department, Hanoi Petroleum Petroleum Joint Stock Company (subsidiary).

- Award for “The best manager in 2018”: Ms. Vu Thi Thu - Deputy Director of Petroleum Products Trading Division (parent company); Mr. Nguyen Hoang Phuc - Director of PVOIL Mien Trung (subsidiary).

- Award for “The best collective in 2018”: Planning Division (Parent company); PVOIL Ha Noi JSC (subsidiary).

- Award for “Best petroleum station in 2018”: Nguyen Huu Tho petroleum station - PVOIL Mien Trung, petroleum station No. 7 - PVOIL Vung Tau, Ho Sen petroleum station - PVOIL Hanoi, Hoanh Son petroleum station - PVOIL Vung Ang, Binh Tho petroleum station - Timexco.

Photos honoring the best collective and individuals in 2018:

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