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.
More than 2 trillion VND (86.2 million USD), or 40-50 percent of the budget of the southernmost province of Ca Mau, is contributed by the Ca Mau Gas-Power-Fertiliser Complex each year, a recent meeting heard.
A series of trade agreements on exploiting the Sao Vang-Dai Nguyet gas field was inked between the Vietnam National Oil and Gas Group (PetroVietnam) and its partners in Hanoi on July 31.
While German consumers are familiar with Vietnamese products such as coffee, seafood, tea, and spices, many other quality items remain relatively unknown in the market. The Selgros event not only helped introduce Bac Giang lychee to German consumers but also provided them with the opportunity to experience other Vietnamese agricultural products.
The article by Cuba’s Inter Press Service detailed how Vietnamese private enterprise Agri VMA leased 1,000 ha of land in Los Palacios district, Cuba’s westernmost province of Pinar del Río, for rice cultivation over a three-year period. The project’s first harvest in 2025 recorded an impressive yield of 7.2 tonnes per hectare, far exceeding the local average of 1.6 tonnes.
During the visit, office representatives held a working session with the Tipaza Chamber of Commerce and Industry and met with several prominent local businesses operating in key sectors including industry, agriculture, fisheries, food processing, chemicals, pharmaceuticals and plastics.
A Nordic delegation to Vietnam International Sourcing 2025 in September will feature leading names in retail, consumer goods, logistics, and sustainable manufacturing, including global fashion giant H&M, offering fresh prospects for partnerships in fashion, textiles, and green supply chains.
With the current trading band of +/- 5%, the ceiling rate applicable for commercial banks during the day is 26,276 VND/USD and the floor rate 23,774 VND/USD.
Effective from the date of signing on June 18, the decision halts procedures outlined in the 2005 Memorandum of Understanding (MoU) between the governments of Vietnam and Laos on the initial implementation of the Greater Mekong Subregion (GMS) Cross-Border Transport Facilitation Agreement at the Lao Bao–Densavan border gate.
The event aimed to update businesses on new regulations and compliance requirements regarding US tax, trade, and customs policies, while offering practical solutions to facilitate exports amid shifting trade dynamics.
The festival marks a significant milestone in promoting the brand, value, and legacy of traditional fish sauce - a product deeply rooted in the island’s identity and history spanning over 200 years.
According to Mastercard data, Vietnam has recorded a remarkable 92% compound annual growth rate (CAGR) in contactless transaction volume from Q4 2022 to Q4 2024.
Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
With its strategic location, abundant workforce, and modern infrastructure, Vietnam holds significant potential to become a leading centre for power and electronics production in the region and the world.
The renewable energy workforce training and development centre, invested by Germany's GEO Group, is expected to be a cornerstone in shaping Binh Dinh as a renewable energy and innovation hub in central Vietnam, meeting the growing demand for skilled technical personnel in offshore wind, solar farms, and green hydrogen projects.
A notable trend is the shift toward satellite regions. With land scarcity and soaring prices in Ho Chi Minh City and Hanoi, investors are eyeing provinces like Hung Yen, Bac Ninh, and Hai Phong, which are benefiting from improved technical infrastructure and transport connectivity.
To further strengthen private-sector innovation, Bac Ninh plans to accelerate administrative reforms, build a digital, service-oriented government, and develop an integrated innovation ecosystem that connects businesses with domestic and international institutions, universities, and experts.
The participation of H&M, one of the world's largest fashion corporations, in Vietnam International Sourcing 2025 in Ho Chi Minh City in early September is considered a special highlight, opening up many cooperation opportunities for Vietnamese businesses in the fashion, textiles and sustainable supply chains.
This latest order builds on a previous agreement signed at the Singapore Airshow last year for 40 engines, bringing the total number of Trent 7000 engines ordered by the airline to 80.
Minister of Industry and Trade Nguyen Hong Dien acknowledged that despite concerted efforts by ministries and local authorities in combating fake and substandard goods, the situation remains highly complicated, attributing the persistent challenges to high profits luring numerous participants, increasingly sophisticated violations, limited resources within enforcement agencies.
Fertiliser production during January-July reached 969,000 tonnes(Photo: VNA) 
