State budget contribution of PetroVietnam expands by 21% of yearly plan

VOV.VN - The Vietnam Oil and Gas Group (PetroVietnam) contributed a total of VND75.4 trillion, equivalent of US$3.32 billion, to the State budget throughout the first 10 months of this year, an increase of 23% from the same period last year and a figure 21% higher than the yearly plan.

During the reviewed period, the State-owned corporation exploited 9.09 million tonnes of crude oil, thereby exceeding the annual target by 12.4%. It has also moved to cut VND2.39 trillion in costs, equivalent to 80% of this year’s plan.

The firm has so far donated a total of VND784.8 billion in order to help the country combat the impact of COVID-19, of which VND554.9 billion has been given to the COVID-19 vaccine fund.

Furthermore, PetroVietnam has been focusing on developing oilfields BK-18A and BK-19, both of which are expected to be put into operation in the coming days.

It has also been working around clock in order to soon launch Song Hau 1 and Thai Binh 2 thermal power plants, with turbine No.1 of the Song Hau 1 scheduled to come into operation this month.