PetroVietnam has reported a profit of 22.6 trillion VND (1 billion USD) in the first eight months of this year, according to newly appointed General Director Phung Dinh Thuc.
Thuc said that revenues reached 436 trillion VND, an increase of 47 percent against last year, contributing 109 trillion VND to the State budget.
It is expected that PetroVietnam will contribute between 55 trillion VND and 155 trillion VND, surpassing the State coffer for the year.
In addition, the PetroVietnam has set a target of exploiting 15 million tonnes of crude oil and 8 billion cu.m of gas.
Thuc said that surveys and exploitation would be the core of PetroVietnam operations this year, adding that domestic and international activities be enhanced. Apart from traditional markets, PetroVietnam plans to explore markets in Russia , Uzbekistan , Azerbaizan , Kazakhstan and Latin America .
Oil exploitation projects in Russia this year was expected to reach an output of 1.5 million tonnes on 49 percent investment capital received from Vietnam . Project output is expected to increase to 2.2 million tonnes next year.
The PetroVietnam has also conducted a series of investment conferences in Japan , the Republic of Korea and the US with foreign investors showing interest in PVN projects by purchasing stakes in its member companies.
The development of large-scale PetroVietnam electricity projects requires sufficient finances, costing around 1.5 billion USD per 1,200MW power project.
The group has called on equipment suppliers to join in arranging investment capital and attracting investors, Thuc said./.
Thuc said that revenues reached 436 trillion VND, an increase of 47 percent against last year, contributing 109 trillion VND to the State budget.
It is expected that PetroVietnam will contribute between 55 trillion VND and 155 trillion VND, surpassing the State coffer for the year.
In addition, the PetroVietnam has set a target of exploiting 15 million tonnes of crude oil and 8 billion cu.m of gas.
Thuc said that surveys and exploitation would be the core of PetroVietnam operations this year, adding that domestic and international activities be enhanced. Apart from traditional markets, PetroVietnam plans to explore markets in Russia , Uzbekistan , Azerbaizan , Kazakhstan and Latin America .
Oil exploitation projects in Russia this year was expected to reach an output of 1.5 million tonnes on 49 percent investment capital received from Vietnam . Project output is expected to increase to 2.2 million tonnes next year.
The PetroVietnam has also conducted a series of investment conferences in Japan , the Republic of Korea and the US with foreign investors showing interest in PVN projects by purchasing stakes in its member companies.
The development of large-scale PetroVietnam electricity projects requires sufficient finances, costing around 1.5 billion USD per 1,200MW power project.
The group has called on equipment suppliers to join in arranging investment capital and attracting investors, Thuc said./.
