Petrolimex/PLX defines key tasks, solutions for 2019


02:19 PM @ Wednesday - 31 July, 2019

HANOI On January 12, the Vietnam National Petroleum Group (Petrolimex/PLX/Group) held a meeting to review the 2018 performance and set out tasks for 2019 at its headquarters on No 1 Kham Thien St. The event witnessed the attendance of the Party Central Committee member and Deputy Prime Minister Trinh Dinh Dung.

The meeting witnessed the presence of Party Central Committee member, Deputy Prime Minister Trinh Dinh Dung

In 2019 the GDP growth is forecasted at 6.6-6.8 per cent with total social investment capital at 33-34 per cent. Economic integration with the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and diverse supply chains towards high quality, environmentally friendly products will facilitate the local markets to stay more competitive with its advantages/disadvantages.
Under that context, Petrolimex determined to continue production activities in the spirit of being innovative, and maintaining its pioneering position and identity for successful competition and sustainable development.
To that end, the Petrolimex leadership set out the following key tasks: (1) Ensuring safety in all aspects of the production – business process (human beings, fire and explosion prevention and control, environmental sanitation, money, goods, etc.), (2) Fulfilling the 2019 production–business targets assigned by the Annual General Meeting for six business areas, (3) Optimising the efficiency of using technical facilities, and (4) Promoting advanced and effective governance.
To fulfill the four tasks mentioned above, nine solutions were put forward with major contents focusing on:

  • For the petroleum area, investment will be funnelled into core and ongoing activities including logistics, mixing, quality, information technology and automation. Promoting market research to make flexible business decisions, increase output on all sale channels. Successfully protecting Petrolimex brandname against any infringement to protect Petrolimex’s interests and ensure fuel transparency according to Decree 83/2014/ND-CP on petroleum business.
  • For all six areas including petroleum, it is essential to continue promoting the systemisation based on the close coordination among member units in order to achieve the common business efficiency, and establish the Group’s position not only at home but also abroad.
  • Restructuring: Making plans to reduce the proportion of State ownership to 51 per cent in accordance with the Prime Minister’s Decision No 1232/QĐ-TTg. Completing the model of Parent Company for effective governance in the new context, satisfying the shareholders’ development expectations.

2018 was the fourth consecutive year that Petrolimex continued achieving encouraging results when it had completed and exceeded some planned targets.
Petrolimex contributed some VND38,280 billion (US$1.6 billion) to the State budget (up 20 per cent as compared to the plan); reported a total export volume of 12.9 million cubic meter/tonne to maintain the growth rate in the context of competition (exceeding the target); maintained its position as the most successful enterprise among Vietnam’s 50 top listed companies in 2018, its position among Vietnam’s 40 most valuable brands in 2018; and completed the ownership transfer from the Ministry of Industry and Trade to the Committee for Management of State Capital (CMSC) as of January 10, 2018.
Investing in the development of retail network was also an impressive performance that Petrolimex made in 2018 with the establishment of 120 new petrol stations, bringing the total number of petrol stations to nearly 2,600 nationwide; besides the supply of environmentally friendly fuel products of DO-V and E5, which is synchronously managed and integrated with the Industry 4.0 technologies.
Addressing the event, Party Central Committee member, Deputy Prime Minister Trinh Dinh Dung said “Petrolimex has strictly followed and taken the lead in implementing the State guidelines and policies in the petroleum area, affirming its role in leading and regulating the petroleum market". Additionally, the Deputy PM mentioned nine tasks that Petrolimex needs to carry out to reach targets that the Party and Government aimed for socio-economic development, successful economic integration, and strong development in the coming period of time.
On the occasion of its founding anniversary (January 12, 1956 – January 12, 2019), the leaders and the whole employees of Petrolimex were determined to make further efforts to maintain their pioneering role in developing Vietnam’s petroleum market, positively contributing to macroeconomic stability, ensuring social security, national security and sustainable growth; and to responsibly implement commitments to domestic and foreign shareholders, partners, and customers.
On the threshold of the New Year 2019, Petrolimex would like to express its gratitude and best wishes to the shareholders, partners and customers for their trust in Petrolimex/PLX and the co-ordination from Vietnam’s media bodies for the enterprise development and national construction.

Vietnam National Petroleum Group - Petrolimex (PLX)

Committed to constantly making an effort to go further on the path of development and bring the lives of Vietnamese people and all Petrolimex employees to new heights in the future