The Prime Minister had a working meeting with PVN

Prime Minister Pham Minh Chinh chaired the meeting with the Vietnam National Oil and Gas Group (Photo: VGP/Nhat Bac).

In 2021, PVN completed production and business targets with a total overturn of 627,000 billion VND, payment to the state budget of 112,000 billion VND, exceeding the year plan respectively as of 28% and 89%. 4/5 progress slow and inefficient projects were removed out from 12 projects with difficulties and losses in Industry and Trade sector, and on February 28, 2022, unit 1 of the Thai Binh 2 thermal power plant was successfully fired.

In the two first months of the year PVN exploited crude oil amount of 1.8 million ton, equal to 24% of the year plan. However, PVN is facing many difficulties, challenges in the scope of activities, energy transition trends, specific mechanisms and policies.

In particular, complicated geopolitical fluctuations, international disputes, especially armed conflicts in Ukraine lead to price fluctuations and affect the supply and demand of crude oil, gasoline, and fertilizers.

Concluding the meeting, PM Pham Minh Chinh highly appreciated the efforts of PVN in 2021.

The PM also shared many difficulties and challenges of PVN. PM considered that, there are problems resolving immediately but also problems depending on many factors as the institution, mechanism, policies and many issues relating the foreign countries.

The PM affirmed that the Government with PVN and relevant ministries and agencies will focus to solve the above issues in the most active way, classify and select key issues and solve them in principle that firstly do easy issues then difficult ones do later on a basis to strictly keep the principles, guidelines, lines and policies of the Party and State, suitable to the specific situation and bringing high efficiency.

In recent times, the Government leaders several times handled different issues related to Thai Binh 2 TPP, Nghi Son Oil Refinery and other energy issues.

In 2022, the geopolitical, geo-economic situations, strategic competition is happening very complicated, difficult to predict, directly related to oil and gas activities; The areas and objects that PVN is cooperating with are affected by these factors. Therefore, the PM requests PVN to quickly adapt to the situation and flexibly handle specific issues within its functions and authority, contributing to building an independent and self-reliant economy, ensuring a great energy balance.

PM agreed with PVN proposals. Regarding the specific issues, PM was asked to assess the correct situation, clearly analyze the reasons, propose the solutions, roadmap for handling the issues, especially issues related Nghi Son Oil Refinery. The issues related to Thai Binh 2 TPP are successfully handled, the experience from the successes must be learned and promoted for resolving the issues at the other projects.

PM also asked PVN to actively contribute to finalizing Power Development Planning VIII (PDP VIII) in the spirit of not for the sake of the local interests of the sector or unit, but all for the benefit of the State and Nation.