Illustrative image (Photo: PVN) Hanoi (VNA) – The Vietnam National Oil and Gas Group (PetroVietnam)surpassed its business targets by 4-16 percent, especially oil exploitation, inthe first three months of the year.
Total revenue of the group topped 117.1 trillion VND (5.14 billion USD),exceeding its quarterly plan by 16 percent. The group posted an after-tax profitof 5.1 trillion VND (224.1 million USD), 18 percent higher than its target oraccounting for 30 percent of yearly plan.
Duringthe period, PetroVietnam’s tax payment to the state budget was 20.8 trillionVND (914.1 million USD), 12 percent more than its goal and up 19 percentyear-on-year.
The group produced about 6.47 million of oil equivalent, surpassing thethree-month plan by 5.3 percent. Gas exploitation in the period reached 2.52billion cubic metres, 5.7 percent higher than the target.
In the first quarter, PetroVietnam produced 5.44 billion kWh of electricity,1.69 million tonnes of petrol and some 447,000 tonnes of nitrogenous fertilizer.
The PVN said that its industrial production value was estimated at 116 trillionVND (5.1 billion USD) in the quarter, surpassing the target by 7.4 percent andaccounting for 27 percent of its yearly plan.
In a bid to fulfill plan for the second quarter and the whole year, PVN GeneralDirector Nguyen Vu Truong Son said that the group has focused all resources andmeasures on ensuring the effective operation of its five core areas of oil andgas exploration and exploitation, electricity, gas, petrochemical industriesand high-tech services.
It will also continue strict management of oil and gas exploring and exploitingactivities and giving priority to major projects like Ca Rong Do (Red Emperor)and Ca Voi Xanh (Blue Whale).
Particularly, the group will continue its business restructuring plan in2016-2020 as approved by the Prime Minister.
In 2017,PVN strives to exploit some 23.81 million tonnes of oil equivalent, generate20.1 billion kWh of electricity, and produce 1.52 million tonnes of nitrogenousfertilizer and about 6.8 million tonnes of gasoline.-VNA
Total revenue of the group topped 117.1 trillion VND (5.14 billion USD),exceeding its quarterly plan by 16 percent. The group posted an after-tax profitof 5.1 trillion VND (224.1 million USD), 18 percent higher than its target oraccounting for 30 percent of yearly plan.
Duringthe period, PetroVietnam’s tax payment to the state budget was 20.8 trillionVND (914.1 million USD), 12 percent more than its goal and up 19 percentyear-on-year.
The group produced about 6.47 million of oil equivalent, surpassing thethree-month plan by 5.3 percent. Gas exploitation in the period reached 2.52billion cubic metres, 5.7 percent higher than the target.
In the first quarter, PetroVietnam produced 5.44 billion kWh of electricity,1.69 million tonnes of petrol and some 447,000 tonnes of nitrogenous fertilizer.
The PVN said that its industrial production value was estimated at 116 trillionVND (5.1 billion USD) in the quarter, surpassing the target by 7.4 percent andaccounting for 27 percent of its yearly plan.
In a bid to fulfill plan for the second quarter and the whole year, PVN GeneralDirector Nguyen Vu Truong Son said that the group has focused all resources andmeasures on ensuring the effective operation of its five core areas of oil andgas exploration and exploitation, electricity, gas, petrochemical industriesand high-tech services.
It will also continue strict management of oil and gas exploring and exploitingactivities and giving priority to major projects like Ca Rong Do (Red Emperor)and Ca Voi Xanh (Blue Whale).
Particularly, the group will continue its business restructuring plan in2016-2020 as approved by the Prime Minister.
In 2017,PVN strives to exploit some 23.81 million tonnes of oil equivalent, generate20.1 billion kWh of electricity, and produce 1.52 million tonnes of nitrogenousfertilizer and about 6.8 million tonnes of gasoline.-VNA
VNA
