Oil group pays nearly 2.6 billion USD to state in 7 months
The Vietnam Oil and Gas Group (PVN) contributed nearly 60 trillion VND (2.59 billion USD) to the state budget in the first seven months of 2019, 7 percent above its target.
PVN contributes nearly 60 trillion VND (2.59 billion USD) to the state budget during January-July (Source: VNA)
Hanoi (VNA) – The Vietnam Oil and Gas Group (PVN) contributed nearly60 trillion VND (2.59 billion USD) to the state budget in the first sevenmonths of 2019, 7 percent above its target.
In the period, thegroup’s total revenue is estimated at 433 trillion VND, equivalent to 70.7percent of its yearly plan.
The State-owned firmgenerated around 13.24 billion kWh of electricity, and produced 851,000 tonnesof nitrogenous fertiliser, 2.3 percent and 10 percent above its targets,respectively.
To fulfill this year'sbusiness goals, the group will keep a close eye on global oil prices, accordingto the PVN.
The firm also plans torationally balance production output, export and processing of oil-gas andelectricity so as to ensure targets set by the Government on raising grossdomestic product, state budget collection and national energy security.
It will also promotethe use of scientific and technological solutions to improve efficiency andtake concerted financial measures to deal with negative developments in theworld’s crude oil prices this year.-VNA
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PVN contributes nearly 60 trillion VND (2.59 billion USD) to the state budget during January-July (Source: VNA) 
