PVN exports 355 million tonnes of crude oil in 30 years

10:05 | 15/08/2017 Industry

The Vietnam National Oil and Gas Group (PVN) has exported 355 million tonnes of crude oil, worth 145 billion USD, since the shipment of its first barrel from Bach Ho field in April 1987.

Oil rigs of VietsoPetro Joint Venture in operation at Bach Ho Oil Field - Photo: VNA

The PVN today not only ships crude oil abroad but also supplies oil for Dung Quat Refinery in central Quang Ngai province.

The firm has extracted 7.48 million tonnes of crude oil, both locally and overseas, in the first half of 2017, bringing home 3.17 billion USD.

Of the amount, 3.04 million tonnes has been provided to Dung Quat Refinery, exceeding the plant’s designed capacity.

According to the state-run group, a barrel of crude oil earns Vietnam 54.4 USD on average during the period, higher than the expected rate of 50 USD and global prices.

Crude oil prices are projected to hover around 46 – 50 USD per barrel in the remaining months of this year, lowering the entire year’s average to about 50 USD per barrel.

Theo VNA