PetroVietnam earns over US$2.4 billion in first half

During the reviewed period, the group provided an estimated 3.73 million tonnes of crude oil for the Dung Quat Oil Refinery, raking in US$1.58 billion, equivalent to 38.13% of the target set for the whole year. 

It is expected to deliver 7.09 million tonnes of crude oil and condensate in the last two quarters of this year, including 3.5 million tonnes to the Dung Quat Oil Refinery. 

PetroVietnam Deputy General Director Nguyen Sinh Khang said the group has employed a host of measures to guard against the impacts of the global falling oil price since 2014. 

Timely investment projects have helped the group’s member units overcome difficulties and create a firm foundation for its future operation, he said. 

Khang added that PetroVietnam leaders have held working sessions with their domestic and foreign partners and mine managers in order to maximise exploitation programmes. 

Reportedly, PetroVietnam grossed VND560 trillion (US$25.2 billion) in revenues in 2015 despite global declining oil prices. Over the past five years, the group contributed over VND836 trillion (US$37.62 billion) to the State budget.