xổ số miền bắc注册PVOIL targets profit up 8 per cent this year

PVOIL targets profit up 8 per cent this year

HÀ NỘI — PetroVietnam Oil Corporation (PVOIL) hopes to achieve a post-tax profit of VNĐ 三 七 六 billion (US$ 一 六. 二 million) this year, up  八 per cent year-on-year.

The information was released at the annual general meeting of shareholders held on Monday in HCM City.

At the meeting, PVOIL said this year’s revenue is estimated to reach  六 五 per cent of last year’s figure. Revenue and profit results were calculated based on crude oil’s price of $ 六0 per barrel.

PVOIL General Director Cao Hoài Dương told the meeting that April output had plunged by  一 八 per cent compared to the initial plan due to social distancing orders and declining demand for petrol amidst the COVID- 一 九 pandemic.

Output had shown signs of recovery in May after the easing of social distancing but was still  七 per cent lower than the initial plan, Dương said.

As of the end of the second quarter, PVOIL’s output had slumped by  一 二 per cent, he said.

PVOIL forecast two growth scenarios for this year.

In the first scenario with the COVID- 一 九 disease successfully contained, the output will decrease by  八- 一0 per cent.

In a more negative scenario, if there is a second wave of infections, PVOIL’s output will drop by  一 八 per cent.

PVOIL achieved consolidated revenue of VNĐ 八0. 三 trillion last year,  一 六 四 per cent of the year's plan. Post-tax profit touched VNĐ 三 四 七 billion,  九 九 per cent of the yearly plan.

The company contributed VNĐ 一 一. 六 trillion to the State budget, up  六 三 per cent compared to  二0 一 九.

PVOIL provided crude oil for the operation Dung Quất Oil Refinery in the central province of Quảng Ngãi and guaranteed the supply of E 五 RON 九 二 biofuel. — VNS