PV GAS tightens measures to tackle the spread of Covid-19 and oil price fluctuations

During Tet and working days after Tet, PV GAS paid more attention to strengthening activities in the Covid-19 prevention and control, and security and safety assurance for gas works, maintaining production and business, and contributing to keep Tet peaceful and happy nationwide.

In term of Covid-19 prevention and control, PV GAS was and is strictly complying with Ministry of Health and the Group’s regulations on this task.

By now, PV GAS has not yet recorded any COVID-19 patient and suspected ones called F1, F2, and F3. In line with real situation and successful achievement of2021 goals, PV GAS currently updates/adjusts and offers groups of measures to tackle the spread of COVID-19 and oil price fluctuations. 

In term of production, PV GAS actively works with ministries and EVN to increase mobilized gas output for 2021, in line with the obligation of upstream consumption. It also actively works with relevant parties to early address existing problems in the gas sales contact appendices and then sign them at market gas prices as a basis for payment and debt reduction. It proactively works with its staff working in the gas chain to optimize maintenance and repair. It stops/reduces gas supply and consumption; developing and carrying out scenarios of mobilizing and regulating gas resource to have optimal operation mode in accordance with oil price fluctuations and epidemics; ... 

In governance, PV GAS continues to maintain and consolidate the Steering Committee for Covid-19 Prevention and Control to perform relevant tasks, to effectively respond to epidemics, and to ensure all business and production activities. It invests continuously; improves governance; reviews, gradually digitalizes and optimizes the management system. It reviews, consolidates and perfects the organizational apparatus on the principles of lean and scientific management, rapid adaptation whenever there is a change, effective operation according to market mechanisms, and development and integration trends. It restructures under the plan approved by the Group; continues improving and building an advanced Human Resource Management System; and deploys the PV GAS cultural creation plan; ...

In term of investment, PV GAS aims to take advantage of existing financial potentials, increase investment on the basis of reviewing and implementing in order of priority, promptly meet gas demand of consumers, dominate the market and match the PV GAS development strategy.

In term of financial management, PV GAS focuses on implementing solutions to optimize the efficiency in capital use such as: Reviewing, supplementing, and completing regulations on financial activities in accordance with the State and the Group’s ones and its development trend based on the principle of creating an active and flexible mechanism, while strictly examining and supervising (debt management, financial investment, capital mobilization/use,... ); Diversifying forms of capital raising on the basis of optimal plans to meet PV GAS capital needs for development; Developing and applying management tools and systems effectively to minimize risks and be ready to respond to financial risks when negative external impacts appear; Strengthening and effectively implementing thrift practices;...

In term of developing gas market, PV GAS aims to develop the gas market in the direction of product and consumer diversification for sustainable development.

Besides the above solutions, to speed up addressing problems related to mechanisms and policies, creating favorable conditions for production and business, PV GAS actively implements and works/coordinates with Vietnam Oil and Gas Group to contact with Ministries and the Government to deal with issues related to gas price/ price mechanism, charges, applicable standards in the gas product business sector, ..., to speed up addressing problems and creating appropriate mechanisms and policies for its development.