PetroVietnam exceeds targets two months before year-end
The Vietnam Oil and Gas Group (PetroVietnam) has exceeded its set yearly targets in terms of revenue, profit and state budget contribution two months before the year-end.
PetroVietnam exceeds targets two months before year-end. (Photo:VNA)
Hanoi (VNA) – The Vietnam Oil and Gas Group (PetroVietnam) has exceeded itsset yearly targets in terms of revenue, profit and state budget contribution two months before the year-end.
The group’stotal revenue reached 627.74 trillion VND (27 billion USD) in the first 10 months of this year, 10.4percent higher than the 10-month target and 2.5 percent higher than the yearlyplan.
It contributed86.42 trillion VND (3.72 billion USD), exceeding the10-month plan by 10 percent.
During theperiod, the firm has exerted efforts to reach the targets against the backdropof declining price of Brent crude oil which was fluctuating around 60 – 62 USDper barrel, much lower than the projected level of 65 USD per barrel.
Along with oiland gas, the group also enjoyed high production of other products. It produced18.55 billion kWh of electricity, 1.26 million tonnes of fertilizer and 9.9million tonnes of petroleum, surpassing 5.1 percent, 8.1 percent and 5.5percent of the targets,respectively.
Last year, PetroVietnam’stotal revenue reached 626.8 trillion VND, an increase of 26 percent compared to2017, and it contributed 121.3 trillion VND to the State budget, up 24 percentyear-on-year./.
The Vietnam Oil and Gas Group (PetroVietnam) earned 489.5 trillion VND (over 21 billion USD) in revenue in the first eight months of the year, exceeding the target by 19 percent although the average price of crude oil fell to 58.62 USD per barrel in August compared to the predicted price of 65 USD per barrel.
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PetroVietnam exceeds targets two months before year-end. (Photo:VNA)
