Vietnam Oil & Gas Group produced almost 1.22 million metric tons of crude oil in January, Thoi Bao Kinh Te Vietnam newspaper reported, citing the state-owned company.
The company, known as PetroVietnam, also pumped 770 million cubic meters of gas, Thoi Bao said. Oil and gas output was 5 percent more than its target for the month. The oil producer’s total revenue reached 30 trillion dong ($1.6 billion) last month, a 15 percent increase compared with its plan, according to the paper.
PetroVietnam’s production was 16 million tons of oil equivalent last year, and it expects 2010 output at 15 million tons, with 14.41 million tons of crude to be produced domestically, the company said in November.
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