PetroVietnam exploits 7.76 million tonnes of oil equivalent in eight months

HÀ NỘI — The Vietnam Oil and Gas Group (PetroVietnam) has reported an oil equivalent output of  七. 七 六 million tonnes in the first eight months of this year,  八. 二 per cent higher than the set target.

The group generated more than  一 四 billion kWh of electricity, equivalent to  九 六. 九 per cent of the target, and produced nearly  一. 二 million tonnes of nitrogenous fertiliser, surpassing the target by  四. 八 per cent.

Its production of oil and petrol exceeded  八. 二 million tonnes, only equivalent to  九 三. 三 percent of the target, largely due to the Dung Quất Oil Refinery being under maintenance.

In August, the group sold crude oil at US$ 四 七. 五 per barrel, about $ 二. 三 higher than the price in the previous month, but still much lower than the price of $ 六0 set in the yearly plan.

PetroVietnam reported that total revenue in the eight-month period was over VNĐ 三 七 二 trillion (US$ 一 六 billion). The group contributed nearly VNĐ 四 五 trillion to the State budget, while its after-tax profit stood at over VNĐ 一 一 trillion.

The group said it will continue with comprehensive solutions to cope with potential risks to its operation in the remaining months of this year, with a focus on managing production costs and maintaining product quality. — VNS