Friday , June 9 2023

The disappointing business results in oil and gas industry


On January 17, the National Assembly of the Politburo member Nguyen The Kim Nagan, PVN member council chairman Tran Zi Thanhe said. Overall, oil and gas accounted for 23.98 million tonnes by 2018. Crude oil exploits are 13.97 million tonnes. Gas exploitation reached 10.01 billion meters. The reserves had reached 12 million tons of oil. In December 2018, nitrogen production reached 1.63 million tonnes. The Vietnamese Oil & Gas Group has earned a record milestone of 170 billion KWh on December 2, 2016. The total revenue of the group reached VH 626.8 trillion in 2018, exceeding VND 96 trillion, exceeding 18% of the year. Specifically, the state's budgetary allocation in 2018 is 42.3 trillion dollars annually, $ 47.5 trillion and 64.3% annually.

The group is now difficult to arrive at the need for a national assemblage to deal with the difficulty in implementing petroleum law and guidelines. Investment abroad; Difficulties for coordinating and applying rules; Implementation of strategic objectives under Article 41; Tax compensation for Nikhi zone petrochemical refinery is difficult to handle efficiently effective projects.

Season for the fourth quarter of 2018 began. In particular, the oil and gas industry, in the fourth quarter, has been dismissed with great disappointment from losing or declining profits.

Unexpected loss of 1000 billion VND

Fourth quarter BNN Zone Refinery and Petrochemical STC (Hose: BSR) are among the best in the industry. In the past, BSR lost $ 1000 billion.

In the fourth quarter, net profit was $ 29,238 billion. VS's net profit rose to 831 billion BNL BNR announced a loss of Rs 1,027 billion in tax rebates excluding excessive operating expenses.

This result is defined by the BSR. Because the crude oil market in the world market becomes uncomfortable. In October 2018, the price of crude oil fell by 50.21 barrel in December 2018, The crude oil price declines by 36% (42%).

Continuous production and processing of oil refineries, especially the Dung Qat oil refineries, maintain crude oil prices and require production time from crude oil. Products like crude oil and production declined, with prices higher than the market price.

Furthermore, Bina's son affects the crude oil price and the price of the main products (crack margin). If mobs cost $ 92 a barrel more than crude oil, in the fourth quarter, $ 812 billion was made profitable. It is worth 310 billion dollars.

BSR said that by the end of 2018, six million tonnes of revenue would be $ 113,493 billion in revenue, 2018 and 2018. Profit is 3,551 billion, a 2% increase compared to the 2018 plan ($ 3,480 billion).

The assets of BSR are unstable. During this period, Vend in cash and cash equivalents amounted to $ 11,879 billion to $ 5,769 billion. The sales declined by 1,455 billion. The company's 310 billion items were kept in stores.

The debts of BSR grew by over 10,000 million a year, with Windfall 20,350 billion and $ 10,137 billion in debt. VINT's equity is $ 31,005 billion. Currently VND has 346 billion.

PV Gas earned a profit of $ 12.1 billion, but it declined by 13% in the fourth quarter.

PetroVoton Gas Corporation (HLIE: Gas) has registered a robust growth in the ongoing quarterly basis.

In the fourth quarter, economic revenue from GAs increased by 11 per cent to $ 19,118 billion. However, the high cost of capital was reduced by the company's net profit, after which tax was reduced to 3,273 billion sales, ie 13 percent decline.

GAS explained, Q4 / 2017, profit decreased and Qu Water Gas price difference of $ 1,209 billion was given in 2014-2017. VND 968 billion tax profits increase.

GAS totaled $ 75,991 billion in 2018 It recorded a 17 percent increase in 2017. Net profit rose 25% to $ 12,102 billion. Annual plan doubled.

The VAS's revenue and profits in 2019 will be $ 59,000 billion and VEND 9,300 billion dollars. The company's net profit stood at $ 7,400 billion, up 65.4 per cent.

Oil and Gas Industry is disappointment of business results - photo 1.

PVB losses in fourth quarter

Another oil and gas company is the Vietnam Stock and Gas Pipeline joint stock company (HNX-PVB). During the same period of 2017, the VS's negative result of VS continued to cost the PBB Capital in the fourth quarter of 2018. The result of the company lost seven billion dollars, and profited by 37 billion dollars in the fourth quarter of 2017.

In the fourth quarter, loss of $ 23.1 billion by 2018. In 2018 it has fallen to 597. The PVB is not aimed at the target of 28 billion euro project in 2018. The company's profits have increased considerably over the previous year.

Another loss of oil and gas industry Jesc Metal Structures and Petroleum Installation (Hose: PXS).This business is less than the 40 billion VH negative negative profit margin in the fourth quarter of 2018, with 100 billion worth revenues.

The business situation in 2018 has faced many difficulties. This year's projects have a lower price when more projects have been shifted from previous years and projects. In addition, Long Zone and Sao Vang Dai Nguyet's projects are gradually deployed, so there is no reduction in production and profits.

In the last quarter, PXX lost $ 56 billion. Q4 / 2017 was a loss of $ 34 billion. By 2018, the loss of the company was $ 139 billion, but by 2017, it had a profit of about $ 1 billion.

Oil and gas group still have not announced a lot of financial statements. However, other businessmen do not have any hope through the frustrating expansion of these companies.

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