PetroVietnam flies over 11-month targets

December 10, 2018 | 21:07

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In the first 11 months of 2018, Vietnam National Oil and Gas Group (PetroVietnam) surpassed business targets, including profit, revenue as well as oil and gas production.

petrovietnam flies over 11 month targets

PetroVietnam has almost reached its target oil exploitation volume for the whole year

Notably, in these 11 months, PetroVietnam exploited 12.84 million tonnes of oil, up 5.6 per cent compared to the initial 11-month plan, and equalling 97 per cent of the yearly plan. The exploited gas volume reached 9.26 billion cubic metres, up 5.2 per cent compared to the initial 11-month plan.

The petroleum volume reached 8.53 million tonnes, equaling 72.4 per cent of the yearly plan.

Besides, the firm also reported high production volume of other products, including 18.99 billion kWh of electricity and 1.477 million tonnes of nitrogenous fertiliser.

Between January and November, the group acquired VND542.34 trillion ($23.58 billion) in revenue, exceeding the initial 11-month plan by 16.8 per cent and exceeding the annual target by 2.2 per cent. It paid VND108.1 trillion ($4.7 billion) to the state budget, exceeding the whole year target by 46.5 per cent.

PetroVietnam exceeded production targets by 3.3-18 per cent

Particularly, by the end of November, many member companies of the group completed their goals, with three companies – Binh Son Refining and Petrochemical Co., Ltd. (BSR), PetroVietnam Gas Joint Stock Corporation (PV Gas), and PetroVietnam Transport Corporation (PV Trans) – exceeding their annual financial targets by 30-63 per cent.

In general, in the 11 months of this year, the group exceeded its production targets by 3.3-18 per cent.

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