Business

PetroVietnam enjoys good business results despite falling oil prices

The Vietnam Oil and Gas Group (PetroVietnam) earned 489.5 trillion VND (over 21 billion USD) in revenue in the first eight months of the year, exceeding the target by 19 percent although the average price of crude oil fell to 58.62 USD per barrel in August compared to the predicted price of 65 USD per barrel.
PetroVietnam enjoys good business results despite falling oil prices
PetroVietnam enjoys good business results despite falling oil prices ảnh 1The Vietnam Oil and Gas Group (PetroVietnam) earned 489.5 trillion VND (over 21 billion USD) in revenue in the first eight months of the year. (Photo: nhadautu.vn)

Hanoi (VNA) – The Vietnam Oil and Gas Group (PetroVietnam) earned 489.5 trillion VND(over 21 billion USD) in revenue in the first eight months of the year,exceeding the target by 19 percent although the average price of crude oil fellto 58.62 USD per barrel in August compared to the predicted price of 65 USD perbarrel.

In the period, thegroup contributed 68.9 trillion VND (2.96 billion USD) to the State budget, 14percent above the plan and accounting for 78.8 percent of the yearly target.

The group also fulfilled its production targets. Particularly, PetroVietnam CaMau Fertiliser Joint Stock Company began its contract to export 47,500 tonnesof fertiliser to India in August.

To complete theyearly plan, PetroVietnam said it would keep a close watch on the fluctuationsof global oil prices, improve market forecasting and reasonably adjust outputfor export and processing to ensure the nation’s GDP growth target, nationalsecurity and budget collection.

Along with applyingadvanced technologies to improve business activities, the group will carry outfinancial solutions to timely respond to the variation of global oilprices.-VNA 
VNA
#Vietnam Oil and Gas Group (PetroVietnam) #489.5 trillion VND in revenue #average price of crude oil fell #State budget #PetroVietnam Ca Mau Fertiliser Joint Stock Company #business activities #Vietnam News Agency #Vietnamplus
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