PetroVietnam exceeds business and production targets

October 12, 2010 | 10:20

(0) user say

The Vietnam National Oil and Gas Group (PetroVietnam) has announced that it has achieved more than the business and production targets set for the first nine months of this year.

Its total turnover stood at VND 342 trillion ($18 billion) in the reviewed period, approximately 119 per

cent of the nine-month target and 104 per cent of the year’s target; a year-on-year rise of 67 per cent and equivalent to 25 per cent of the country’s gross domestic product (GDP).

The group contributed VND 95.2 trillion ($5 billion) to the State budget, 24 per cent over the nine-month target and almost 99 per cent of the 2010 target; a year-on-year rise of 24 per cent and equal to 27 per cent of the country’s total budget revenue.

Export turnover reached $6.54 billion in the said period, 121 per cent of the nine-month target, 93 per cent of the year’s goal, a year-on-year increase of 24 per cent, and 14 per cent of the country’s export turnover.

PetroVietnam generated 9.88 billion Kwh of electricity for the national grid, which was equivalent to 130 per cent of the nine-month target and 14 per cent of the country’s total power output.

Earnings from oil and gas services reached VND 122 trillion ($6.4 billion), nearly 123 per cent of the nine-month goal and a year-on-year rise of 61per cent.

The company’s total turnover is projected to reach VND 433 trillion ($22.8 billion) this year, a year-on-year increase of 31per cent.

vir.com.vn

What the stars mean:

★ Poor ★ ★ Promising ★★★ Good ★★★★ Very good ★★★★★ Exceptional