The nation pumped up 12.8 million tonnes of crude oil in the first nine months of this year, a year-on-year increase of 16 percent and a three-year record.

While there was a record crude oil output, revenue, however, decreased 16 percent compared to the same period last year, said General Director of the National Oil and Gas Group (PetroVietnam) Phung Dinh Thuc at a recent online conference to review industrial production for the first nine months of the year held by the Industry and Trade Ministry.

According to the PetroVietnam leader, the main cause was the lower price of crude oil, which averaged 60 USD per barrel during the period--42 USD per barrel less than the same period last year.

The group is continuing to coordinate with its partners to boost oil and gas exploration and exploitation to raise output and export value.

With crude oil prices at an average of under 70 USD per barrel in the last months of the year, the group is expected to earn an export turnover of 7.2 billion USD for the whole year, a 35 percent decrease compared to 2008./.