Petrolimex aims for pre-tax earnings of VND2,000bil
(VOV) - Vietnam National Petroleum Group (Petrolimex) recently unveiled its business plan at the company’s annual shareholder meeting, targeting a pre-tax profit of VND2,000 billion for 2014, down 1% over last year.
A spokesperson for Petrolimex said that the company is forecasting that fierce competition will drive prices of petroleum products down as demand for petroleum products in Vietnam softens in 2014. In addition, petroleum import-export activities are expected to be tighter, giving rise to a reduction in overall output, the spokesperson said.
Petrolimex Director Tran Van Thinh said the company is committed to growth by the exploitation of oil assets in both the domestic and international markets.This year, Petrolimex is expected to sell 9.2 million cubic metres of petroleum in such markets as Vietnam, Laos and Singapore with an estimated aggregate revenue reaching VND200,000 billion.