Crude oil output exceeds target by 23 percent in four months

Illustrative photo (Source: VNA)

Hanoi (VNA) - The Vietnam Oil and Gas Group(PetroVietnam) has reported that its crude oil output reached 3.63 milliontonnes in the first four months of this year, surpassing the set target by 23percent.

The group’s revenue in the period was estimated at 292.6trillion VND (12.74 billion USD), up 62 percent on-year and exceeding the goalby 62 percent.

It contributed some 41.8 trillion VND to the State budget,surpassing its target by 73 percent, and increasing by 48 percent from the sameperiod last year.

Foreseeing upcoming challenges from world economy instabilities,domestic and foreign markets, and geopolitical issues, President and CEO ofPetroVietnam Le Manh Hung said the group will continue updating, evaluating andforecasting the macro-economic situation to adjust its management plan, particularlyregarding supply-demand, price instability, and inflationary waves.

PetroVietnam will keep its targets of growth, productionoutput, and oil extraction; while capitalising on processed products to take advantageof market opportunities, he said./.

VNA