Page 18 - AsianOil Week 44 2020

AsianOil NEWS IN BRIEF AsianOil

six VLECs to operate in international waters. last year. Cost of goods sold (COGS) in the New Chemical and
Yee Yang Chien, President and Group reported period was 11,090 billion VND,
Chief Executive Officer of MISC said, down by 9,137 billion VND, equivalent to Dangerous Goods
“We are proud to welcome Seri Everest, 45.2% over the same period last year.
our first VLEC into MISC’s existing fleet. Gross profit reached 489 billion VND, Warehouse in Haiphong,
With this first delivery, our VLEC has set a down 106 billion VND, equivalent to 17.8%
new benchmark in the ethane market. Seri over the same period last year. Vietnam
Everest has the capacity of transporting Due to the double impacts from the
large scale ethane over long distance while Covid-19 pandemic and the decline in Mitsui O.S.K. Lines (MOL) today announced
ensuring the highest level of safety and global oil prices, the decrease in business that on October 30, MVG Dinh Vu (MVG;
reliability. We hope to continue to capitalise output cut PVOIL’s revenue and business MOL ownership: 67.5%), joint venture
on this opportunity as we are confident that profit in the quarter. established in cooperation with local
we will gain a strong foothold to cater to the The decrease in domestic gasoline prices in partners, held a grand opening ceremony for
increasing demand in this niche segment.” the first 15 days of October 2020 caused the a new chemical and dangerous goods (DG)
MISC, October 30, 2020 net value of inventories as of September 30, warehouse. The warehouse, built to conform
2020 being negative and the corporation had to the latest local fire code, will offer a range of
Petronas Investigates to make a provision of more than 66 billion handling services for chemical products and
other DGs.
VND for parent company and nearly 40
MV Dayang Topaz vessel billion VND for consolidated financial report. of Dinh Vu Industrial Park adjacent to the Port
The warehouse is in the petrochemical area
Third quarter revenue from financial
incident activities was 154 billion VND, up 57 billion of Haiphong in northern Vietnam, offering easy
access to a broad transport network, including
VND, equivalent to 59% over the same
Petronas wishes to update that investigations period last year, while financial expenses fell the deep-water port at Lach Huyen, the Hanoi-
are ongoing into the cause of the incident by 8 billion VND, equivalent to 16% from a Haiphong expressway, and Cat Bi International
involving the MV Dayang Topaz vessel, which year ago, partly supporting the overall loss Airport. The raised-floor warehouse, with
came into contact with platform structures at in the third quarter. total floor space of 5,400m2, is Vietnam’s most
the Baram field, 14 nautical miles off Miri, on Consolidated pre-tax profit in the third spacious DG warehouse.
27 October 2020. quarter was over 1 billion VND. However, MOL, November 4, 2020
A thorough assessment of the platform the corporation recorded consolidated after-
structures is being carried out. Petronas is tax loss of more than 16 billion VND. Loss
committed to undertaking all the necessary of parent company was 24 billion VND. EAST ASIA
measures to ensure that the platform In the first 9 months of 2020, PVOIL
structures remain safe and secure. recorded consolidated pre-tax loss at 305 PetroChina achieved Q3
Preliminary investigations by Petronas billion VND and 367 billion VND after-tax
also revealed that the incident did not cause loss. Meanwhile, the corporation reported turnaround
any impact to the environment. Petronas 295 billion VND profit in the same period
will continue to work with the relevant of last year. October 29 2020, PetroChina Company
authorities to monitor the situation and As of September 30th, 2020, PVOIL’s Limited announced that the COVID-19
conduct further assessments to ensure any total assets stood at 20,429 billion VND, a pandemic led to a sharp shrinkage of demand
eventuality is addressed swiftly. decrease of 6,051 billion VND, equivalent to for oil, gas and chemical products, and
We are also extending all necessary a drop of 23% compared to the beginning over-supply in the international market,
support to DESB Marine Services (“DESB of 2020. Among the decrease in assets, cash leading to decline in both crude oil and
Marine Services”) in this matter. and cash equivalents dropped 1,314 billion natural gas prices internationally. Amid
During the incident on 27 October 2020, VND, receivable debt decreased 3,952 billion the unprecedented risks and challenges,
the vessel made contact with platform VND, inventory decreased 388 billion VND; the Company stays firm to its quality-
structures after its anchor wire gave way corresponding to the total source of capital based development, with company-wide
during adverse weather. The vessel, owned decreased 6,051 billion VND. coordinated efforts in COVID-19 prevention
by DESB Marine Services, was undertaking Liabilities decreased by 5,564 billion and control, and production and operation, as
operational work at the Baram platform for VND, accounting for 92% of the decrease. well as green development.
PETRONAS Carigali Sdn Bhd (PCSB). The amount includes the impact of the For the third quarter of 2020, net profit
PETRONAS, October 29, 2020 sharp decrease in petroleum prices and the attributable to owners of the Company
reduction in payable on behalf of crude oil was RMB 40,050 million, representing a
PVOIL reports third quarter for export entrustment. substantial increase of 353.6% compared
with the same period of last year.
On January 1, 2020, PVOIL had
business performance consolidated loss of 751 billion VND. After PetroChina Company Limited was
9 months, the corporation had an additional established as a joint stock company
On October 28th, 2020, PetroVietnam Oil loss of 308 billion VND. Therefore, PVOIL’s with limited liability under the Company
Corporation (PVOIL) announced its financial consolidated undistributed profit target as Law of the People’s Republic of China
statement for the third quarter of 2020. of September 30, 2020 was 1,058 billion (the “PRC” or “China”) (the “Company
Accordingly, in the quarter, the VND loss. Of the amount, accumulated loss Law”) on November 5, 1999 as part of the
corporation’s net revenue reached 11,579 of Petec, a PVOIL’s subsidiary, was 1,788 restructuring of China National Petroleum
billion VND, down 9,243 billion VND, billion VND. Corporation (“CNPC”).
equivalent to 44.4% over the same period PVOIL, October 29, 2020 PETROCHINA, October 30, 2020

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