PetroVietnam’s 9-month results exceed assigned plans

07-Oct-2017 Intellasia | VNS | 6:00 AM Print This Post

Vietnam National Oil and Gas Group (PetroVietnam)’s financial targets surpassed assigned plans, with the group earning VND367 trillion (US$16.15 billion) in revenue in the first nine months of 2017.

The revenue exceeded the group’s set plan by 16 per cent, contributing VND68 trillion (some $3 billion) to the State budget, 21 per cent above the target.

According to statistics announced by PetroVietnam earlier this week, domestic crude oil output of the group exceeded the government-assigned plan by 297,000 tonnes, significantly contributing to the growth of the country’s Gross Domestic Product.

Total output of oil reached 19.01 million tonnes, meeting 73.6 per cent of the year’s plan.

Specifically, oil production during the period hit 11.7 million tonnes, an excess of 2.8 per cent in comparison with the set target. Domestic production was at 10.25 million tonnes, exceeding the plan by three per cent, or 297,000 tonnes, and foreign production was at 1.46 million tonnes, surpassing the plan by 1.4 per cent.

In addition to crude oil production, PetroVietnam also surpassed other output targets, including nitrogenous fertiliser production (1.32 million tonnes, exceeding the plan by 10.1 per cent) and petroleum production (4.46 million tonnes, surpassing the plan by 22.6 per cent).

PetroVietnam will focus on synchronously implementing necessary measures to ensure domestic crude oil production in 2017, in accordance with the plan assigned by the government for the end of the year months.

In addition, the group will work actively and closely with relevant agencies in deploying its business production and investment activities, contributing to affirming Vietnam’s sovereignty.


Category: Business

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