Vietsopetro has reported that it grossed 3.07 billion USD from oil sale in the first 10 months of this year, fulfilling its yearly target.

According to General Director Nguyen Huu Tuyen, during the period, the Vietnam-Russia oil and gas joint venture has put many oil rigs into operation, which have helped it produce 120,000 tonnes of oil higher than its initially-set target.

Tuyen also said the JV will make greater efforts in the remaining months of the year in order to tap 200,000 tonnes of oil more than the yearly target and achieve a yearly revenue of 4 billion USD.

The JV expects to contribute 2.28 billion USD to the state budget, 600 million USD higher than the target./.