Doan Quang Vinh, chair of management board in PetroVietnam Northern Gas Joint Stock Co (coded PVG) announced that in Q2, the company’s profit may be lower than the previous quarter due to slumping trend in gas price from early April, resulting in considerable drop in profit. In Q1, PVG reported gaining profit of 14 billion dong.
In the latest annual general meeting (AGM), the company’s shareholders have approved the targeted profit plan at 27.34 billion dong. This year, PVG would pay dividend at 8 percent rate, in comparison with that of 2011 at 18.5%.
The company has completed construction works on the new liquefied gas depot in Dinh Vu Industrial Zone, Hai Phong City with designed capacity of 7,500 tonnes.