PV GAS’ pre-tax profit up nearly 62% in 9 months

Wednesday, Sep 28, 2022 14:35

Workers carry out maintenance at the Dinh Co gas factory. — Photo courtesy of PV Gas

The PetroVietnam Gas Joint Stock Corporation (PV GAS) posted a pre-tax profit of VND14 trillion (nearly US$590 million) in the first three quarters of 2022, up 61.8 per cent year-on-year.

The firm’s revenue reached an estimated VND76.5 trillion in the period, representing a rise of 30 per cent compared to the same period last year.

PV GAS sold 5.7 billion cu.m of gas in the January – September period, up 4 per cent year-on-year.

1MMTPA Thi Vai LNG project invested by PV GAS in Cai Mep Industrial Park in the southern province of Ba Ria – Vung Tau is ready to receive gas for the first time early next quarter, while the signing of an LNG contract for trial operation is underway.

PV GAS targets a revenue of VND100 trillion, and pre-tax profit of VND15.5 trillion in 2022, up 26.6 per cent and 38.4 per cent, respectively, over the same period last year.

To fulfill its production and business targets in 2022, PV GAS continues efforts to ensure stable and safe operation of gas facilities. It will work regularly with relevant ministries and sectors to increase gas supply for power production, and control the progress of and ensure capital for important projects. — VNS

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