PVN exceeds VND762 trillion in 2013 revenues

10:20 | 13/01/2014 Companies

(VEN) - The Vietnam National Oil and Gas Group (PVN) recently announced its total revenues of more than VND762 trillion in 2013, an increase of 18 percent against the annual target.

The group earned total pretax profits of VND62.8 trillion. The Return on Equity (ROE) reached 17.1 percent. The Capital Adequacy Ratio (CAR) reached 1.12 times by the end of 2013.

PVN early reached all its annual targets in terms of revenue (50 days early), petroleum reserves (one month early), petroleum extraction (16 days early), power production (53 days early), nitrogenous fertilizer production (17 days) and gasoline and oil production (62 days early).

PVN expected to increase its petroleum reserves to 55-61 million tonnes, extract 26.63 million tonnes of petroleum (including 16.83 million tonnes of crude oil and 9.8 billion cu.m of gas), produce 15.7 billion kWh, turn over VND673.3 trillion and pay VND144.5 trillion worth of taxes this year./.

Lan Anh

Theo ven.org.vn