10:07 | 06/03/2019 Energy
The Vietnam National Oil and Gas Group (PetroVietnam) has reported an estimated revenue of 111.8 trillion VND (over 4.8 billion USD) in the first two months of 2019, surpassing its target by 8 percent.
The group said it contributed an estimated of 14.4 trillion VND to the State budget in the reviewed period, exceeding the plan by 2 percent.
PetroVietnam said its oil and gas output reached 3.85 million tonnes of oil equivalent, 7 percent higher than its target and fulfilling 69 percent of its first-quarter plan.
In the first two months, the firm produced about 3.27 billion kWh of electricity and 280,000 tonnes of nitrogenous fertilizer, and 2.17 million tonnes of petroleum, surpassing the goals by 4.2 percent, 6.7 percent and 7.2 percent, respectively.
To complete its production and business plans in the first quarter and next ones PetroVietnam will continue to keep close watch on oil prices in the world market, thus rolling out solutions to its production and business management. It will reasonably coordinate exploitation, export and processing activities to ensure the Government's GDP and State budget revenue expansion, as well as national energy security and its business and production efficiency.
Attention will also be paid to promoting application of science and technology measures in production and business; and synchronously implementing financial solutions from balancing capital sources and cash flows for development investment,and production and business needs, in order to promptly respond to crude oil price fluctuations in the world market this year.