188bet vietnam Results of production and business in March and first quarter of 2020

In 188bet vietnam first 3 months of 2020, 188bet vietnam Covid-19 pandemic has severely affected most of 188bet vietnam major economies in 188bet vietnam world and Vietnam is suffering direct consequences in all areas of production and business when value chains are being seriously affected by disruptions of supply and demand of goods, raw materials and fuels. In this context, 188bet vietnam price of crude oil in 188bet vietnam world market falls seriously, creating a double crisis for 188bet vietnam Oil and Gas industry. 

Facing such situation, Vietnam National Oil and Gas Group and its member units have taken initiative in synchronous deployment of coping solutions in order to best protect 188bet vietnam health of petroleum workers, at 188bet vietnam same time maintain production and business activities, minimize 188bet vietnam impact of 188bet vietnam pandemic and oil price shock. All officials and employees of 188bet vietnam Group have been actively responding, joining hands and forces with 188bet vietnam Group to overcome this difficult and challenging period. It is evidenced by 188bet vietnam Group's production and business results in 188bet vietnam first quarter of 2020. 

Timely response measures of 188bet vietnam Group:

- Party organization, business leaders/ unions at all levels throughout 188bet vietnam Vietnam National Oil and Gas Group have unanimously implemented and encouraged 188bet vietnam entire political system to implement 188bet vietnam prevention, fighting and control of Covid-19 epidemic, carry out urgent tasks and solutions to cope with oil price decline; 

- 188bet vietnam Group's President and CEO has continuously issued and implemented many directives and plans on task performance, urgent solutions to cope with 188bet vietnam double impact of 188bet vietnam Covid-19 epidemic and oil price decline; 

- Following 188bet vietnam General Secretary – State President’s Call and 188bet vietnam Prime Minister's Directive, 188bet vietnam Group has urgently implemented 188bet vietnam plan for officials to work online at home and only arrange an “irreducible” division working directly at 188bet vietnam office;
- Promoting 188bet vietnam spirit of working to improve labor productivity, economical and efficient use of infrastructure, working facilities, avoiding waste ... for employees who directly produce and work at 188bet vietnam office as well as working online at home; 
- 188bet vietnam Group and its member units thoroughly focus on directing production and business, strengthening optimal cost management, deploying 188bet vietnam application of tools and solutions to reduce costs, save time and improve labor productivity (application of information technology, enhancing innovations, inventions, technical improvement solutions ...). Reviewing and cutting costs in 188bet vietnam plan but not really necessary, not proposing expenses incurred (if not required to be handled) in order to reduce synchronously with revenue reduction, including reduction of workers’ personal income;
- Actively coordinate with 188bet vietnam units in 188bet vietnam Group, in 188bet vietnam country to share information, resources, markets ... in order to optimize 188bet vietnam efficiency in 188bet vietnam whole value chain, enhance cooperation with domestic enterprises having business activities related to 188bet vietnam products that 188bet vietnam unit supplies.
- Actively capture and update market information on supply and demand, price fluctuations of crude oil and petroleum products, thereby developing plans and scenarios for advising with competent authorities and operating specifically at each time to take advantage of opportunities to improve operating efficiency, reduce damage due to market impacts. 

Results of production and business activities 

Production and business targets:

188bet vietnam Group has basically fulfilled 188bet vietnam targets and tasks of 188bet vietnam exploitation and production plan set out in March and 188bet vietnam first quarter of 2020, specifically: 

 Total oil production in March exceeds 8.1% plan of 188bet vietnam month, and that of 188bet vietnam first quarter exceeds 10.1% of 188bet vietnam first quarter plan and equaled 26.6% of 188bet vietnam year plan. 

 Electricity production in March is 2,097 billion kWh, exceeding 3.8% of 188bet vietnam plan for March, and it is 5.33 billion kWh in 188bet vietnam first quarter, reaching 100% of 188bet vietnam first-quarter plan and equaling 24.7% of 188bet vietnam year plan. 

 Fertilizer production in March is 136.9 thousand tons, and it is 441.8 thousand tons in 188bet vietnam first quarter, exceeding 5.5% of 188bet vietnam first-quarter plan and equaling 28.3% of 188bet vietnam year plan. 

 Gasoline production in March is 1,149 million tons, exceeding 1.7% plan of 188bet vietnam month, and it is 3,415 million tons in 188bet vietnam first quarter, exceeding 2.5% of 188bet vietnam first-quarter plan and equaling 28.9% of 188bet vietnam year plan. 

Financial targets

188bet vietnam average crude oil price in March 2020 decreases by 20USD compared to February 2020 (≈ decrease by 33%); Average oil price in 188bet vietnam first quarter of 2020 decreases by 3.8 USD/ barrel (≈ decrease by 6%) compared to 188bet vietnam year plan price (60 USD/ barrel), down 9.1 USD/ barrel (≈ decrease by 14%) compared to 188bet vietnam average price of 188bet vietnam first quarter of 2019 (65.3 USD/ barrel). Brent oil price is currently fluctuating around 25-27USD/ barrel. 

Total revenue of 188bet vietnam Group in March is 49 trillion dong, equaling 80.8% of 188bet vietnam month plan, and it is 165 trillion dong in 188bet vietnam first quarter, equaling 90.9% of 188bet vietnam first-quarter plan and equaling 25.7% of 188bet vietnam year plan. 

188bet vietnam whole Group’s contribution to 188bet vietnam State budget in March is 6.5 trillion dong, equaling 90.6% of 188bet vietnam month plan, and it is 20.8 trillion dong in 188bet vietnam first quarter, equaling 89.7% of 188bet vietnam first-quarter plan and 25.3% of 188bet vietnam year plan.