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.
Fertiliser production during January-July reached 969,000 tonnes(Photo: VNA)
Hanoi (VNA) – The Vietnam Oil and Gas Group (PetroVietnam) reportedrosy business operation in the first seven months of the year, exceeding itsset plan and on the way to achieve annual target, despite considerable risksinvolved in the global economy.
During January-July, the group earned 17.8 trillion VND (765.4 million USD) inafter-tax profit, exceeding 32 percent of the set plan and representing 94percent of the yearly plan. It contributed 61.8 trillion VND (2.65 billion USD)to the state budget, 46 percent above the planned amount, and 83 percent of theyearly plan.
Total oil and gas output in the period was14.48 million tonnes, exceeding the assigned amount by 4.6 percent and representing63.4 percent of the whole year’s goal.
Fertiliser production in the period reached 969,000 tonnes, 4.5 percent higherthan the initial goal, and 63 percent of the annual target. Meanwhile, petrolproduction for the reviewed period reached 4.85 million tonnes, exceeding theset plan by 6 percent.
Since the three production lines of the Dinh Vu polyester plant becameoperation on April 20, the group has produced 640 tonnes of fibres so far, andearned 9.5 billion VND (408,500 USD) from exporting 246 tonnes of fibres.
The company generated 13.48 billion kilowatts of electricity, or 62.5 percentof the yearly plan.-VNA
The Vietnam National Oil and Gas Group pumped 4.8 million tonnes of crude oil in the first four months of 2018, exceeding the target by 1.7 percent and accounting for 36.2 percent of its yearly goal.
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.
The Vietnam Oil and Gas Group (PetroVietnam) not only reached the majority of its targets for the first half of 2018, but went beyond expectations, statistics showed.
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PM Chinh proposed MUFG work closely with the Ministry of Finance to improve legal frameworks and support the establishment and operation of the international financial centre in Da Nang and Ho Chi Minh City.
The Prime Minister emphasised the significance of maintaining macroeconomic stability, controlling inflation, promoting growth, and improving the harmony between monetary and fiscal policies.
Petrovietnam will step up the development of new products and the expansion of international markets to reduce reliance on the domestic market. It also plans to optimise capital use, manage cash flow and costs, streamline operations, and enhance workforce quality to achieve its 2025 goals.
Fertiliser production during January-July reached 969,000 tonnes(Photo: VNA) 
