PetroVietnam surpasses business targets in seven months

Hanoi, August10 (VNA) – 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. During January-July, the group earned 17.8 trillion VND (765.4 million USD) in after-tax profit, exceeding 32 percent of the set plan and representing 94 percent 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 the yearly plan. Total oil and gas output in the period was 14.48 million tonnes, exceeding the assigned amount by 4.6 percent and representing 63.4 percent of the whole year’s goal. Fertiliser production in the period reached 969,000 tonnes, 4.5 percent higher than the initial goal, and 63 percent of the annual target. Meanwhile, petrol production for the reviewed period reached 4.85 million tonnes, exceeding the set plan by 6 percent. Since the three production lines of the Dinh Vu polyester plant became operation on April 20, the group has produced 640 tonnes of fibres so far, and earned 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 percent of the yearly plan.-VNA