PetroVietnam posts positive outcomes in H1

09:56 | 01/08/2018 Industry

The Vietnam Oil and Gas Group (PetroVietnam) not only reached the majority of its targets for the first half of 2018, but also went beyond expectations, statistics showed.

PetroVietnam exploited 12.44 million tonnes of oil between January and June, up 3.1 percent from the six-month target and equivalent to 54.5 percent of this year’s plan.

The volume included 6.18 million tonnes of oil exploited in Vietnam and another 0.95 million tonnes in other countries. About 5.31 billion cubic meters of gas were also extracted during the period.

Meanwhile, the group produced 11.8 billion kWh of electricity, 823,800 tonnes of fertilizer, and 3.85 million tonnes of petroleum and oil, exceeding the six-month plan by 5.2 percent, 3.8 percent, and 9.2 percent, respectively.

During the first six months, it earned 284.5 trillion VND (US$12.5 billion) in revenue and contributed 52.8 trillion VND (US$2.3 billion) to the State budget, 21 percent and 49 percent higher than the respective six-month targets.

PetroVietnam also noted stable and safe operations in its factories, including Phu My and Ca Mau fertilizer plants, and Dung Quat oil refinery.

Especially, Nghi Son Refinery and Petrochemical LLC in the central province of Thanh Hoa reached its ready for start-up on February 28, successfully producing A92 gasoline on May 1. It had turned out 381,000 tonnes of products as of June 30. Over the six months, the plant sold 88,000 cubic meters of A95 petrol, 45,000 cubic meters of A92 petrol, and 86,500 cubic meters of diesel oil.

Dinh Vu polyester fibre plant, which used to be a big loss-making project, resumed the operation of three yarn production lines in late April, producing 440 tonnes of yarn in the first half of 2018, PetroVietnam reported.

Theo VNA