PetroVietnam surpasses business targets in seven months
The Vietnam Oil and Gas Group (PetroVietnam) reported rosy business operation in the first seven months of the year, exceeding its set plan and on the way to achieve annual target, despite considerable risks involved in the global economy.
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During January-July, the group earned VND17.8 trillion (US$765.4 million) in after-tax profit, exceeding 32% of the set plan and representing 94% of the yearly plan. It contributed VND61.8 trillion (US$2.65 billion) to the state budget, 46% above the planned amount, and 83% of the yearly plan.
Total oil and gas output in the period was 14.48 million tonnes, exceeding the assigned amount by 4.6% and representing 63.4% of the whole year’s goal.
Fertiliser production in the period reached 969,000 tonnes, 4.5% higher than the initial goal, and 63% of the annual target. Meanwhile, petrol production for the reviewed period reached 4.85 million tonnes, exceeding the set plan by 6%.
Since the three production lines of the Dinh Vu polyester plant became operation on April 20, the group has produced 640 tonnes of fibres so far, and earned VND9.5 billion (US$408,500) from exporting 246 tonnes of fibres.
The company generated 13.48 billion kilowatts of electricity, or 62.5% of the yearly plan.
