PetroVietnam exploits 7.76 million tonnes of oil equivalent in eight months hinh anh 1Illustrative image (Photo: VNA)

Hanoi (VNA) -
The Vietnam Oil and Gas Group (PetroVietnam) on September 1 reported an oil equivalent output of 7.76 million tonnes in the first eight months of this year, 8.2 percent higher than the set target.

The group generated more than 14 billion kWh of electricity, equivalent to 96.9 percent of the target, and produced nearly 1.2 million tonnes of nitrogenous fertiliser, surpassing the target by 4.8 percent.

Its production of oil and petrol exceeded 8.2 million tonnes, only equivalent to 93.3 percent of the target, largely due to the Dung Quat Oil Refinery under maintenance.

In August, the group sold crude oil at 47.5 USD per barrel, about 2.3 USD higher than the price in the previous month, but still much lower than the price of 60 USD set in the yearly plan.

PetroVietnam reported that total revenue in the eight-month period was over 372 trillion VND (16 billion USD). The group contributed nearly 45 trillion VND to the State budget, while its after-tax profit stood at over 11 trillion VND.

The group said it will continue with comprehensive solutions to cope with potential risks to its operation in the remaining months of this year, with a focus on managing production costs and maintaining product quality./.