PetroVietnam surpasses key financial targets for 2018
The Vietnam National Oil and Gas Group (PetroVietnam) has surpassed its key financial targets for this year, thanks to the rise in petrol prices in October.
Hanoi (VNA) – TheVietnam National Oil and Gas Group (PetroVietnam) has surpassed its keyfinancial targets for this year, thanks to the rise in petrol prices inOctober.
In the first 10 months of this year, it added90.9 trillion VND (3.95 billion USD) to the State budget, up 23 percent fromthe yearly plan. Its total revenue hit 499.5 trillion VND, 21 percent higherthan the 10-month plan, and up nearly 24 percent from the same period lastyear.
The group tapped 20.1 million tonnes of oil,exceeding the plan’s estimates by about 5 percent. The total volume of gas hit8.39 billion cu.m, up 4.1 percent; while fertiliser output reached 1.38 milliontonnes, up 7.2 percent.
Total petrol production was equivalent to 84.2percent of the plan, amounting to 7.46 million tonnes.
PetroVietnam ranked first in the 2018 list of500 Vietnamese firms with the highest profits.
It registered to donate over 250 billion VND(11.2 million USD) to the charity programme “Joining Hands for the Poor” thisyear.
In October, the Dung Quat biofuel plant resumedoperations after three years. Five days after its resumption, the plant had churnedout its first batch of E100 ethanol fuel. –VNA
The PetroVietnam Exploration and Production Corporation (PVEP)’s nine-month State budget contribution exceeded its set yearly target thanks to higher oil prices.
The pre-tax profit of the PetroVietnam Transportation Corporation (PVTrans) hit 540 billion VND in the first nine months of this year, 42 percent higher than the same period last year and meeting the target set for this year.
VinFast, a subsidiary of the multi-sector conglomerate Vingroup, and the PetroVietnam Oil Corporation (PV Oil) on October 25 signed a memorandum of understanding on cooperation to implement a system of stations for charging electric vehicles and leasing batteries.
PetroVietnam Power Corporation (PV Power) set a target of reaching an output of more than 5.6 billion kWh in the last quarter of this year to fulfill its full year’s plan.
China’s Laoling city, in coordination with VINEXAD, hosted a series of events in Ho Chi Minh City from August 7-9 to seek trade and economic cooperation with Vietnam.
Vietnamese Ambassador to Cambodia Nguyen Minh Vu led a delegation to Mondulkiri, Ratanakiri, and Kratie provinces from August 5-8, aiming to deepen economic ties and support Vietnamese businesses operating in Cambodia’s northeastern region.
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Tilapia is considered highly competitive in export markets thanks to its affordability, ease of processing, and appeal across both high-end and mass-market segments.
In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
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A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Illustrative image (Source: VNA) 
