The Vietnam Oil and Gas Group (PVN) has announced it generated a total revenue of 365.5 trillion VND (15.8 billion USD) in the first half of this year, 18 percent higher than the six-month target and equivalent to 60 percent of the yearly goal.
Drilling rigs at Bach Ho oilfield offshore Vietnam. (Photo: VNA)
Hanoi (VNA) – The Vietnam Oil and Gas Group(PVN) has announced it generated a total revenue of 365.5 trillion VND (15.8billion USD) in the first half of this year, 18 percent higher than thesix-month target and equivalent to 60 percent of the yearly goal.
The PVN contributed 53.5 trillion VND (2.31 billionUSD) to the State budget, 16 percent higher than the six-month plan andequivalent to 61 percent of the year’s target.
The corporation’s equity increased from 465.5 trillionVND on January 1 to 470.3 trillion VND (20.34 billion USD) on June 30, up 1percent.
In the first six months of this year, the State-ownedfirm has also successfully fulfilled production plans. It produced 11.52billion kWh of electricity, exceeding the plan by 246 million kWh, or 2.1percent, and 705,800 tonnes of nitrogenous fertiliser, 71,000 tonnes higherthan the plan, or 10.06 percent.
Petroleum production was valued at 5.66 milliontonnes, exceeding the plan by 48,000 tonnes.
To fulfill the business goals set for this year, thegroup continues to keep a close eye on the global oil prices to come up withthe most effective production and business management solutions.
Besides, the PVN will rationally balance productionoutput, export and processing of oil-gas and electricity so as to ensure thetargets set by the Government on growing GDP, State budget collection andnational energy security.
It will also promote the use of scientific solutionsand new advanced technology to improve production and business efficiency.
Last year, PVN’s totalrevenue reached 626.8 trillion VND (27.11 billion USD), an increase of 26percent compared to 2017, and it contributed 121.3 trillion VND (5.24 billionUSD) to the State budget, up 24 percent year-on-year.–VNA
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Drilling rigs at Bach Ho oilfield offshore Vietnam. (Photo: VNA) 
