PetroVietnam enjoy growth in five-month pre-tax profits
VOV.VN - The Vietnam Oil and Gas Group (PetroVietnam) raked in VND144.9 trillion, equivalent to US$6.31 billion, in pre-tax profits between January and May, 2.3 times higher compared to the expected figure for the period and triple that recorded during the same period from last year.
During the course of an online meeting held on June 7, Le Manh Hung, general director of PertroVietnam, said that the opening five months of the year has seen the group record a number of positive outcomes in almost all fields in line with its plans and goals.
Most notably, oil exploitation output proved to be a highlight, with the volume exceeding the target by 18% in May, resulting in strong growth in financial indexes for the five-month period.
PetroVietnam also posted VND222.3 trillion in revenue, 14% higher than the target, along with a rise of 16% against the same period from last year. The group also contributed VND32.4 trillion to the State budget, thereby exceeding the plan by 23% and marking an annual rise of 20%.
All member units were able to maintain stable production and business activities to bring their inventories under control, according to Hung.
Amid complicated developments relating to the impact of the novel coronavirus (COVID-19) pandemic, the outcomes can be attributed to the group’s swift implementation of specific measures and updates on pandemic prevention measures.
To date, PetroVietnam and its member companies have donated a sum of VND480 billion for the nation’s ongoing fight against COVID-19.