The state-owned energy giant also announced that its financial result was above the target by 5%-18% in eleven months of this year.
This achievement was based on the oil price of US$45 per barrel projected by the government at the beginning of the year.
Its 11-month report says the whole group, including affiliates and subsidiaries, earned VND406.2 trillion (nearly US$18 billion), a rise of 5.4% over the target for the period and 93% of the goal set for the whole year.
|PetroVietnam reported its completed production of oil 29 days ahead of schedule, with the 14.02 million tonnes target achieved on December 2 (Photo: nangluongsachvietnam.vn)
Tax payment to the state budget was US$79.6 trillion, up 7% over the 11-month target and almost achieving the government’s full-year goal.
Global oil price averaged US$48 per barrel in November and US$43.9 in the eleven months. Brent crude is moving around US$50-US$53 per barrel.
For production activity, besides crude oil, PetroVietnam reported its gas and petroleum production achieved the government’s annual targets one month earlier.
Ending November, the State-owned energy giant produced 9.63 billion cu.m of natural gas, up 0.2% of the target set for the whole year.
Petrol output reached 6.26 million tonnes, a rise of 10% over the annual projection.
Production of other products, including electricity and fertilizer, was above the target of 11 months by less than 2% --19.23 billion kWh of electricity and 1.47 million tonnes of fertiliser.