Petrovietnam achieved and surpassed all of its targets for this year in the 10 month period. — VNA/VNS Photo

The Vietnam Oil and Gas Group (Petrovietnam) is taking strong measures to earn VNĐ1 quadrillion (US$39.4 billion) in revenue this year.

Petrovietnam General Director Lê Ngọc Sơn said that based on the results recorded during the first 10 months, the group and its subsidiaries will continue ensuring safety for their facilities and factories while accelerating key projects.

Concrete measures will be adopted to reduce costs, prevent wastefulness, and better the efficiency of facilities and factories. Any incident arising will also be handled promptly.

For the remainder of this year, Petrovietnam Chairman Lê Mạnh Hùng asked subsidiaries to assess global economic and political situation and trends to devise response measures and seize opportunities.

They were also requested to enhance decentralised governance and control to boost growth. Besides, they have to step up the application of scientific and technical advances to all activities to foster growth momentum and raise labour productivity.

From January to October, the State-owned firm had achieved and surpassed all of its targets by 0.1-18.3 per cent, including many aspects posting year-on-year growth such as fertiliser, electricity, and petrol production.

It also spent more than VNĐ514 billion ($20.3 million) on various social security activities such as house building for the poor and educational and health programmes. — VNS