Viet Nam National Petroleum Group (Petrolimex) sets a target of consolidated revenue to reach VND186 trillion (US$8.1 million), a year-on-year growth of 10 per cent.

The group also set a target of VND3.06 trillion for consolidated profit before tax, down 19 per cent.

Petrolimex also said that its production and business activities were forecast to continue to face difficulties and challenges this year amid the complicated developments of the COVID-19 pandemic.

In the first months of the year, the world witnessed "shocks" in oil prices and a shortage of gasoline supply due to the outbreak of the Russia-Ukraine war.

Domestically, the supply of petroleum from refineries has not been stable, which has greatly affected the group's plan to create sources and organise production and business of key and core products.

To achieve the set targets, Petrolimex continues to focus on developing and expanding its store system; actively researching to gradually expand, transform and diversify products to adapt to the current trend of energy transformation.

The group also continues to further improve the quality of management, focusing on inventory risk management in order to improve the efficiency of petroleum source generation and business organisation.

At the same time, it will increase the application of information technology, strongly implement digital transformation in management and administration activities, and accelerate the application of non-cash payment in combination with the Petrolimex ID database throughout the system.

In addition, Petrolimex will focus on upgrading and automating the system of warehouses and stores, ensuring synchronisation, consistency, connection and sharing, contributing to enhance competitiveness in petroleum business. — VNS