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PetroVietnam earns 11.3 bln USD in 7 months

Xinhua, August 12, 2016 Adjust font size:

Vietnam National Oil and Gas Group (PetroVietnam) earned some 253 trillion Vietnamese dong (over 11.3 billion U.S. dollars) in revenue in the first seven months of 2016.

PetroVietnam paid 50.7 trillion Vietnamese dong (2.27 billion U.S. dollars) to the country's state budget during seven-month period, Vietnam's state-run news agency VNA reported Friday.

Do Chi Thanh, deputy general director of PetroVietnam, said the group exploited 10.32 million tons of crude oil and 6.56 billion cubic meters of gas in January-July period, with 1.41 million tons of crude oil and 910 million cubic meters of gas in July alone.

In petrol and oil production, Thanh said PetroVietnam produced 3.96 million tons of petrol and oil in the first seven months, with 584,400 tons in July.

Despite reduction in crude oil prices in the world market, Thanh said his group expects to achieve its targets in production and business for this year.

Last year, PetroVietnam's revenue reached 560.1 trillion Vietnamese dong (25.12 billion U.S. dollars), surpassing 14 percent of the yearly target. The group collected some 115.1 trillion Vietnamese dong (5.16 billion U.S. dollars) to the state budget in 2015, surpassing 19.8 percent of the yearly target.

This year, the group targets to have revenue of around 513.3 trillion Vietnamese dong (over 23 billion U.S. dollars). Enditem