It is impossible for PVN to simultaneously exploit and export crude oil and import crude oil for processing

After listening to the PVN report and closing the meeting, Deputy Prime Minister Le Van Thanh praised: “Vietnam National Oil and Gas Group is one of the key companies, plays an important role and plays a significant contribution to the economy”.

Deputy Prime Minister Le Van Thanh emphasized that the oil and gas industry has grown and developed, has advanced and modern investment facilities, on par with regional and international levels in all fields, from exploration, exploitation to processing.

The Deputy Prime Minister stressed that the PVN is not just a state-owned enterprise, doing business for profit, but an economic group that plays a very important role in economic development and national defense.

The current practical requirements require ministries and branches to update their thinking in leadership, direction and administration, towards decentralization and decentralization, to support PVN to quickly accelerate the progress of exploration and exploitation related to the improvement of oil and gas processing to meet domestic demand.

The price of crude oil is currently at a high level; The global trend is to make efforts to convert and reduce fossil energy sources quickly by prioritizing the use of clean energy and renewable energy. Therefore, the value of fossil energy sources, if not promoted today, will be lost forever in the future.

Currently Vietnam still exports most of its extractable crude oil, while it must import other types for processing, and the total capacity of the two refineries can only meet 70% of the domestic market demand. Our country’s oil and gas reserves are 26th in the world (about 1.5 billion m3), but currently exploited output is only 34th in the world. Thus, the speed of realization of oil and gas potential is not high.

According to the Deputy Prime Minister, these resources must be used to serve the economy most effectively, and must be processed in depth most effectively.

Faced with complex developments in world oil prices, the Deputy Prime Minister asked the Group to review its production, business, financial and profit plans for 2022, in the spirit of “opportunity to strike”. The Group seeks to grow by 10% compared to 2021.

During the meeting, the Deputy Prime Minister also raised the issue of having to import crude oil for refining while exporting crude oil. The Deputy Prime Minister suggested that ministries and branches take steps to eliminate this problem, “Definitely update, if there is a problem with the mechanism and policy, it should be fixed”.

“It is impossible for the same group to exploit and export crude oil while another unit has to import crude oil for processing,” said the Deputy Prime Minister.

Therefore, the Deputy Prime Minister asked the Group to immediately invest in the construction of the project in Long Son Industrial Park to ensure it can meet domestic oil demand.

The Deputy Prime Minister also asked PVN to develop an offshore wind power development project to promote its experience, equipment and technology, and submit it to the competent authorities for approval; develop a plan to effectively exploit the extracted gas to ensure the highest efficiency. The Deputy Prime Minister also asked PVN to focus on directing and having plans to fully tackle inefficient investment projects, and immediately operate Thai Binh 2 and Long Phu 1 thermal power plants. tho-de-che-bien-20220311225215599.chn

According to Thai Quynh

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