The Vietnam Oil and Gas Group (PVN) gained 365.5 trillion VND (15.78 billion USD) in revenue in the first half of this year. (Photo: VNA)Hanoi (VNA) – The Vietnam Oil and Gas Group (PVN) gained 365.5trillion VND (15.78 billion USD) in revenue in the first half of this year, or18 percent higher than its six-month plan, heard a conference held by the groupon July 17.
The corporation contributed more than 53 trillion VND to the state budget, 15percent above its target.
During January-June, the State-owned firm generated around 11.52 billion kWh ofelectricity, exceeding its set plan by 246 million kWh, and produced 705,800tonnes of nitrogenous fertiliser, or 71,000 tonnes higher than the goal.
Meanwhile, petroleum production hit 5.66 million tonnes, surpassing its plan by48,000 tonnes.
The group enjoyed a solid first half despite considerable challenges, includingslower recovery of crude oil prices, shortage of capital to carry out largeprojects, and decline in oil reserves, among others.
To fulfill this year's business goals, the group willkeep a close eye on global oil prices, according to the PVN.
The firm also plansto rationally balance production output, export and processing of oil-gasand electricity so as to ensure targets set by the Government on raising grossdomestic product, State budget collection and national energy security. It willalso promote the use of scientific solutions and technology toimprove efficiency.-VNA
VNA
