The Vietnam Oil and Gas Group (PetroVietnam) reported more than 21 billion USD in revenue the first eight months, exceeding the target by 19 percent despite falling global oil prices.

In the period, the group contributed 2.96 billion USD to the State budget, 14 per cent above the plan and accounting for 78.8 per cent of the yearly target.

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

To complete the yearly plan, PetroVietnam said it would keep a close watch on the fluctuations of global oil prices, improve market forecasting and reasonably adjust output for export and processing to ensure the nation’s GDP growth target, energy security and budget collection.

Along with applying advanced technologies to improve business activities, the group will carry out financial solutions to respond to variations in global oil prices.-VNA