PetroVietnam contributes 1.79 bln USD to State budget in five months
The National Oil and Gas Group (PetroVietnam) has contributed 40.8 trillion VND (1.79 billion USD) to the State budget in the first five months of 2018, exceeding the plan by 32 percent and representing 55 percent of the yearly target.
Hanoi (VNA) – The National Oil and Gas Group (PetroVietnam) has contributed40.8 trillion VND (1.79 billion USD) to the State budget in the first fivemonths of 2018, exceeding the plan by 32 percent and representing 55 percent ofthe yearly target.
According to thePetroVietnam, in the past five months, petrol market saw unexpected developments,negatively affecting the firms’ business.
In the first fivemonths of this year, the group put the Bungka Pakma – PM3CAA field intooperation from May 12, a month and 19 days earlier than the plan.
Total production ofthe firm in May reached 10.44 million tonnes of oil, exceeding the plan for thefive-month period by 2.7 percent and representing 45.7 percent of the targetfor the whole year.
Alongside, the firmalso produced 9.8 billion kWh of power in the January-May period, surpassingits plan by 6.1 percent, along with 695,000 tonnes of nitrogen, and 2.69million tonnes of petroleum.
At the same time,PetroVietnam’s revenue in the first five months of this year hit 234.5 trillionVND, 21 percent higher than its plan. The group’s after-tax profit reached 9.8trillion VND, exceeding the plan by 15 percent and fulfilling 51 percent of itsyearly target.-VNA
The PetroVietnam Gas Corporation (PV Gas), a subsidiary of the Vietnam Oil and Gas Group (PetroVietnam), is targeting 55.7 trillion VND (2.47 billion USD) in its total revenue and 6.43 trillion VND (283.2 million USD) in post-tax profit for 2018, heard the company’s annual shareholder meeting last week.
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