PVEP fulfils yearly gas sales goal 123 days ahead of schedule
The PetroVietnam Exploration Production Corporation (PVEP) has sold 830 million cu.m of gas so far, fulfilling its yearly goal 123 days ahead of schedule.
Hanoi (VNA) – The PetroVietnam ExplorationProduction Corporation (PVEP) has sold 830 million cu.m of gas so far,fulfilling its yearly goal 123 days ahead of schedule.
PVEP attributed the success to soaring global demand for gascaused by the Russia-Ukraine crisis. The State-owned company has seen a sharprise in gas sales at all its projects, particularly Block PM3 CAA and those of CuuLong Joint Operating Company (JOC).
The firm has also accomplished all output targets assignedby its parent company PetroVietnam for the first eight months of this year.
It pumped 2.52 million tonnes of oil equivalent during theperiod, 19% higher than the eight-month goal and representing 79% of the yearlyplan.
Its oil and condensate output reached 1.69 million tonnes, exceedingthe periodic plan by 7% and equivalent to 72% of the year’s target. Gas outputsurpassed the eight-month plan by 50% to hit 834 million tonnes, reachingthe company’s full target for the entire year.
In 2022, PVEP is tasked to produce 3.18 million tonnes ofoil equivalent./.
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?
The PetroVietnam Exploration Production Corporation (PVEP) plans to produce an estimated 0.23 million tonnes of oil equivalent, including 0.18 million tonnes of oil and condensate and 54 million cu.m of gas, this month.
The PetroVietnam Exploration Production Corporation (PVEP) has fulfilled its yearly profit target for 2022 by the end of the first quarter of the year, earning an estimated 5,892 billion VND (nearly 258 million USD) in pre-tax profit, up 117 percent year-on-year and surpassing the yearly plan by 2 percent.
The PetroVietnam Exploration Production Corporation (PVEP) contributed over 7.99 trillion VND (over 344,66 million USD) to the State budget in the first five months of 2022, surpassing the target by 92 percent.
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PVEP's Dai Hung oil field. (Photo: VNA)
