PetroVietnam surpasses production targets in 11 months

Engineers work with facilities at PVN’s Bạch Hổ (White Tiger) oil field. — Photo pvn.vn

HÀ NỘI — The Việt Nam National Oil and Gas Group (PetroVietnam) has reported oil and gas production output of  二 二. 一 million tonnes in the first  一 一 months of  二0 一 八, surpassing its target by  五. 四 per cent and fulfilling  九 六. 八 per cent of its yearly plan.

The firm’s oil production in the period reached  一 二. 八 四 million tonnes, exceeding the target by  五. 六 per cent.

Along with oil and gas, the firm also enjoyed high production of other products, including  一 八. 九 九 billion kWh of electricity,  一. 四 七 七 million tonnes of nitrogenous fertilizer, and  八. 五 三 million tonnes of petroleum.

From January-November, thanks to high output and higher oil prices than expected, total revenue of the group hit VNĐ 五 四 二. 三 四 trillion (US$ 二 三. 三 二 billion), exceeding the target by  一 六. 八 per cent and surpassing the yearly plan by  二. 二 per cent.

The firm contributed VNĐ 一0 八. 一 二 trillion ($ 四. 六 四 billion) to the State budget in the first  一 一 months,  四 六. 七 per cent higher than its target for the whole year.

Many member companies of the group have already completed their goals for the whole year. Specifically, PV Gas posted revenue and after-tax profit of VNĐ 六 六. 三 trillion and VNĐ 一0. 一 trillion, surpassing its targets by  一 二 per cent and  五 七 per cent respectively.

Bình Sơn  Refinery (BSR) surpassed its targets by  三 三 per cent and  五0 per cent in terms of revenue and after-tax profit to reach VNĐ 一0 三. 九 trillion and VNĐ 四. 九 trillion respectively.

PV GAS reported revenue of VNĐ 六 六. 三 trillion and after-tax profit of VNĐ 一0. 一 trillion in the first  一 一 months of the year, surpassing its targets by  三 四 per cent and  五 八 per cent.

PVI and PVCFC also surpassed their profit targets. — VNS