The Vietnam Oil and Gas Group (PetroVietnam) contributed 128 trillion VND (6 billion USD) to the State budget in the first nine months of 2013.

The figure was released at a press conference held in Hanoi on October 8, when the group announced its performance in the first three quarters of this year and plans for the fourth quarter.

The group’s contribution to state budget was 21 trillion VND (987 million USD) higher than planned, accounting for 86 percent of the year’s target.

Total revenue in the reviewed period hit 548.3 trillion VND (25.7 billion USD) in total revenue, 18.3 percent higher than planned, and equal to 84.8 percent of the year's target.

All the main production criteria posted growth year-on-year, including a 2.4 percent increase in the output of crude oil equivalent, a 12.7 percent rise in electricity output. Fertiliser production also went up by 15.8 percent and petroleum and oil, up 27.7 percent.

The group’s Vice Director Le Minh Hong said the group will try tomaintain the progress of exploring, mine developing and exploiting projects inside and outside the country to ensure the oil production and reserve as planned.-VNA