Hanoi (VNA) – As of late August, the Vietnam Oil and Gas Group (Petrovietnam) fulfilled its♊ two important yearly targets of state budget contribu🐎tion and before-tax profit ahead of schedule.

In the January-August period, the group’s state budget contribution was estimated at 90.5 trillion VND (3.75 billion USD), exceeding the yearly target by 16%. Its total revenue was estimated to hit 575.8 trillion VND, equal to 85% of the yearly plan, and its before-tax profit was estimated to exceed the target for the whole year by 8%. In the period, Petrovietnam exploited 7.06 million tonnes of crude oil, and produced 108,000 tonnes of nitrogen, 1.07 billion kWh of electricity, 588,600 tonnes of liquefied petroleum gas (LPG), 4.8 million tonnes of petroleum and oil (excluding the output of the Nghi Son Refinery and Petrochemical LLC), and 117,700 tonnes of Polypropylene. These results were all higher than the eight-month targets. To maintain effective production and business, the group continues to take advantage of market opportunities to complete its 2023 assigned targets and tasks at the highest level. Petrovietnam General Director Le Manh Hung said that in September and the remaining months of this year, the group will closely coordinate with the Party Central Committee’s Economic Commission to review, update and complete a report on the project to evaluate the implementation of the Vietnam Oil and Gas Industry Development Strategy. The group also plans to closely follow the handling of projects submitted to the Government such as the group restructuring project to 2025, the 5-year plan for the 2021-2025 period, and the oil and gas exploration and exploitation plan in the East Sea in 2024./.