PetroVietnam pumps 1.78 million tonnes of oil in 2 months

Song Hau 1 thermal power plant (Photo: congthuong.vn)

Hanoi (VNA) – The Vietnam Oil andGas Group (PetroVietnam) has reported that its oil output reached 1.78million tonnes in the first two months of this year, surpassing the set target by24 percent.

The group’s revenue in January and February was estimatedat 118.73 trillion VND (5.19 billion USD), exceeding the two-month target by 34percent, and up 46 percent from the same period last year.

It contributed some 18.05 trillion VND to the Statebudget, surpassing the two-month target by 52 percent, and up 48percent year on year.

Thai Binh thermal power plant (Source: VNA)

The achievements are attributable to the group's good market forecasting work, flexible management and the ability to optimise opportunities despite uncertainties in the global oil and gas market.  

Chairman of the Board of Directors of PetroVietnamHoang Quoc Vuong said at a recent meeting that it is necessary to further bringinto full play opportunities in production and restructuring.

PetroVietnam General Director Le Manh Hung said thegroup will focus on market forecasting to flexibly cope with the new situation,and urged units to continue with digitalisation in business./.

VNA