PVOIL's consolidated revenue exceeds $4.2 billion for the first time

Consolidated profit before tax is expected at VND763 billion ($32 million), accomplishing 153% of the year target, despite a big loss in the third quarter when oil prices fell dramatically and supply was short, but PVOIL still had to maintain uninterrupted sales.

Besides, digital transformation, IT applications, and automation have been actively deployed in all fields of production and business activities, administration, and management; restructuring work has been drastically implemented; proactively adapting to the energy transition trend, taking full advantage of available advantages of petroleum distribution infrastructure, etc.

Mr. Le Manh Hung, Deputy Secretary of the Party Committee and CEO of the Vietnam Oil and Gas Group, praised PVOIL for its great performance in the Party's leadership and commercial operations in 2022. That is reflected in the Conference's mood, the photographs of the attendees, and the excellent reports and presentations delivered at the Conference.

The Group's CEO acknowledged that PVOIL has participated in ensuring energy supply and demand; contributes to ensuring national energy security and is an important link in the business complex of Petrovietnam; helping the Group's business activities from production, and processing to distribution be carried out safely, stably and efficiently.

Simultaneously, through its business structure, PVOIL has conveyed Petrovietnam's culture and brand to the market, customers, and the wider Vietnamese people. PVOIL contributes significantly to Petrovietnam's total business performance in 2022; in particular, the targets for petroleum trading volume and consolidated revenue are quite outstanding.