10:47 | 12/11/2018 Energy
The Vietnam National Oil and Gas Group (PetroVietnam) has surpassed its key financial targets for this year, thanks to the rise in petrol prices in October.
|PetroVietnam has surpassed its key financial targets for this year thanks to the rise in petrol prices|
In the first 10 months of this year, it added 90.9 trillion VND (US$3.95 billion) to the State budget, up 23 percent from the yearly plan. Its total revenue hit 499.5 trillion VND, 21 percent higher than the 10-month plan, and up nearly 24 percent from the same period last year.
The group tapped 20.1 million tonnes of oil, exceeding the plan’s estimates by about 5 percent. The total volume of gas hit 8.39 billion cu.m, up 4.1 percent; while fertiliser output reached 1.38 million tonnes, up 7.2 percent.
Total petrol production was equivalent to 84.2 percent of the plan, amounting to 7.46 million tonnes.
PetroVietnam ranked first in the 2018 list of 500 Vietnamese firms with the highest profits.
It registered to donate over 250 billion VND (US$11.2 million) to the charity programme “Joining Hands for the Poor” this year.
In October, the Dung Quat biofuel plant resumed operations after three years. Five days after its resumption, the plant had churned out its first batch of E100 ethanol fuel.