PetroVietnam’s State budget contribution surpasses yearly plan by 21 percent
The Vietnam Oil and Gas Group (PetroVietnam) contributed 75.4 trillion VND (3.32 billion USD) to the State budget in the first 10 months of this year, up 23 percent from the same period last year and 21 percent higher than the yearly plan.
Vietnam exploits oil and gas at offshore Bach Ho field. (Photo: VNA)
Hanoi (VNA) – The Vietnam Oil and Gas Group(PetroVietnam) contributed 75.4 trillion VND (3.32 billion USD) to theState budget in the first 10 months of this year, up 23 percent from the sameperiod last year and 21 percent higher than the yearly plan.
During the period, the State-owned corporation exploited9.09 million tonnes of crude oil, surpassing the yearly target by 12.4 percent.It has cut 2.39 trillion VND in costs, equivalent to 80 percent of this year’splan.
The firm has so far donated 784.8 billion VND to help thecountry fight COVID-19, of which 554.9 billion VND went to theCOVID-19 vaccine fund.
PetroVietnam has been focusing on developing oilfieldsBK-18A and BK-19 which are expected to be put into operation over the next fewdays. It has also been working around clock to soon launch Song Hau 1 and ThaiBinh 2 thermal power plants, with turbine No.1 of the Song Hau 1 scheduledto be operational this month./.
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Since 2015, Vietnam has seen consecutive declines in oil and gas output and exploitation plan. What're reasons behind the situation and solutions to the problem?
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Vietnam exploits oil and gas at offshore Bach Ho field. (Photo: VNA) 
