Every day PV OIL earns more than 358 billion VND

Vietnam Oil Corporation (PV OIL) recorded a record revenue for the entire system this year of more than 131,000 billion VND, but profits decreased.

PV OIL currently has about 838 gas stations - Photo: PV OIL

The above information was just announced at PV OIL's 2024 year-end conference.

Mr. Nguyen Dang Trinh, new general director of PV OIL, said that 2024 will be the year the corporation breaks records in revenue, business output and development of the number of gas stations.

In 2024, PV OIL will achieve total system revenue of more than VND 131,000 billion, an increase of 19% over the same period last year.

Of which, overseas business activities contributed more than 27%, bringing in more than 36,000 billion VND.

Despite the increase in revenue, the adverse impact of the market, especially in the second half of the year, has caused PV OIL's consolidated profit this year to be lower than last year, at only about VND631 billion.

This year, the company holds the second position in the domestic petroleum retail industry (after Petrolimex ), opening 95 petroleum stores, bringing the total number of stores in the chain to 838.

With a business output of nearly 5.6 million ^m3 /ton of gasoline (up more than 7% last year), PV OIL is estimated to hold about 23% of the domestic market share.

PV OIL's OIL shares are still under warning status from March 2023 to present.

The reason is that the audited financial statements of three consecutive years of this corporation have three exceptions.

At the 2024 annual general meeting of shareholders, PV OIL Chairman Cao Hoai Duong said that this year the company overcame 2/3 of the exceptions.

The remaining exception relates to the investment in PetroVietnam Petrochemical and Biofuel Company. This investment took place before PV OIL was equitized.

According to PV OIL leaders, in 2024 or 2025, the corporation will resolve the remaining exceptions and the stock will no longer be on the warning list.

Source: https://tuoitre.vn/moi-ngay-pv-oil-thu-ve-hon-358-ti-dong-20241222155002055.htm