Oil and Gas Group PetroVietnam achieved 65 percent of its 2014target after it earned 434 trillion VND (20.4 billion USD) in profits inthe first seven months of the year.
From January to July, theState-owned company produced 16.09 million tonnes of oil equivalent(TOE), which was 2.2 percent higher than that of the same period lastyear. In July alone, total production volume was 2.22 million TOE.
Thegroup produced 2.88 million tonnes of oil and petroleum in the firstseven months while Dung Quat Oil Refinery Plant provided 2.68 milliontonnes and Phu My Condensate contributed 200,000 tonnes.
At anonline meeting of the Ministry of Industry and Trade on August 5, NguyenVu Truong Son, PetroVietnam Deputy General Director, said his groupcontributed 96.3 trillion VND (4.5 billion USD) to the State budget fromJanuary to July, or 1 percent more year-on-year.
In the latterpart of the year, the group aimed to promote production and business andcontinue its restructuring plan (including the withdrawal of capitalfrom its non-core businesses), equitisation and adjustment of itsdevelopment strategy by 2015 and towards 2035, Son said.
Itwould continue developing consumption markets for new products,including fibre and bio fuel, the PetroVietnam Deputy General Directoradded.
This year, the group plans to produce 26.63 milliontonnes of crude oil and gas, of which 16.83 million tonnes will be crudeoil, and 4.76 million tonnes of petroleum and oil products. The groupneeds 100 trillion VND (4.74 billion USD) in capital for these projects.
PetroVietnam is expected to gain a year-on-year increase of 6.8percent in its total revenue to 673.3 trillion VND (31.91 billion USD)for this year.-VNA
From January to July, theState-owned company produced 16.09 million tonnes of oil equivalent(TOE), which was 2.2 percent higher than that of the same period lastyear. In July alone, total production volume was 2.22 million TOE.
Thegroup produced 2.88 million tonnes of oil and petroleum in the firstseven months while Dung Quat Oil Refinery Plant provided 2.68 milliontonnes and Phu My Condensate contributed 200,000 tonnes.
At anonline meeting of the Ministry of Industry and Trade on August 5, NguyenVu Truong Son, PetroVietnam Deputy General Director, said his groupcontributed 96.3 trillion VND (4.5 billion USD) to the State budget fromJanuary to July, or 1 percent more year-on-year.
In the latterpart of the year, the group aimed to promote production and business andcontinue its restructuring plan (including the withdrawal of capitalfrom its non-core businesses), equitisation and adjustment of itsdevelopment strategy by 2015 and towards 2035, Son said.
Itwould continue developing consumption markets for new products,including fibre and bio fuel, the PetroVietnam Deputy General Directoradded.
This year, the group plans to produce 26.63 milliontonnes of crude oil and gas, of which 16.83 million tonnes will be crudeoil, and 4.76 million tonnes of petroleum and oil products. The groupneeds 100 trillion VND (4.74 billion USD) in capital for these projects.
PetroVietnam is expected to gain a year-on-year increase of 6.8percent in its total revenue to 673.3 trillion VND (31.91 billion USD)for this year.-VNA
