Illustrative image (Source: VNA)In the period, the group faced numerous difficulties as theRussia-Ukraine conflict has prolonged for more than 100 days, causingdisruption to supply chains, pushing up prices of power and materials, as wellas transport and production costs.
Besides,existing oil and gas mines have seen big reductions in output while theexploitation of new ones is hindered by regulations.
In such difficultcircumstances, PetroVietnam has undertaken a range of measures to maintainoutput and stable operation, including technical solutions to increase output.
Along with crude oil, the production of other products suchas gas, electricity, nitrogen fertilizer and petrol and oil has also been keptat high levels, meeting market’s demand. Petrol and oil output, excluding thatof the Nghi Son Refinery, totaled 2.79 million tonnes in the five-month period,exceeding the five-month target by 8 percent and achieving 46 percent of theyearly plan. The output rose 20 percent from the same period last year.
The group also turned out 776,400 tonnes of nitrogenfertilizer, up 20 percent year on year and meeting 46 percent of the yearlyplan.
As a result, PetroVietnam earned an estimated 372.2 trillion VND (16.05 billionUSD) in revenues in the five-month period, surpassing the five-month revenueplan by 63 percent, and up 58 percent from the same period last year.
The group contributed 52.8 trillion VND to the State budget, up 59 percent yearon year.
At the same time, PetroVietnam continued to boost internationalcooperation with foreign partners in oil and gas exploitation, energytransition, digital transformation and technology.
At a recent conference of the group, President and CEO Le Manh Hung requiredsubsidiaries to continue with efforts to ensure safe and effective production,and keep close monitoring of the international market and macro-economicsituation in order to make accurate forecast serving production-businessmanagement in June and the remaining months of the year.
He added that besides thegroup’s own efforts, it is necessary to improve the institutions, including theLaw on Oil and Gas and related legal documents, to facilitate investment, productionand business activities in the oil and gas sector./.
VNA
