Business

Vietsovpetro contributes more than 452 million USD to State budget

The Vietnam-Russia oil and gas joint venture Vietsovpetro posted total revenues of more than 950 million USD from the sales of oil, gas and condensate in the first six months of this year, contributing 452.4 million USD to the State budget.
Vietsovpetro contributes more than 452 million USD to State budget ảnh 1Oil rigs of the Vietsovpetro (Photo: VNA)
Ba Ria-Vung Tau (VNA) –The Vietnam-Russia oil and gas joint venture Vietsovpetro posted total revenuesof more than 950 million USD from the sales of oil, gas and condensate in thefirst six months of this year, contributing 452.4 million USD to the Statebudget.

The Vietnamese side received 95million USD in profit in the period and the Russian side, 129.4 million USD, itwas reported at the 51st meeting of the Russia-Vietnam JointCommittee in the southern coastal province of Ba Ria-Vung Tau on July 11.

The meeting was attended byofficials from related ministries and agencies of Vietnam and Russia, the RussianConsul General in Ho Chi Minh City, and representatives from Russia’sState-owned oil group Zarubezhneft and the Vietnam National Oil and Gas Group.

Vietsovpetro General DirectorNguyen Quynh Lam said the corporation over-fulfilled most key targets,including oil, gas and condensate exploitation, gas transportation to land, installationand reparation of sea structures, revenues, contributions to Vietnam’s Statebudget and profits of both sides.

Specifically, Vietsovpetropumped more than 1.92 million tonnes of oil and condensate, surpassing the targetby 8 percent, and 75 million cubic metres of natural gas, equivalent to 121percent of target, while transporting more than 534 million cubic metres ofgas, more than double the plan.-VNA

VNA
#Vietnam-Russia oil and gas joint venture Vietsovpetro #State budget #Russia’s State-owned oil group Zarubezhneft #Vietnam National Oil and Gas Group #vietnamplus #Vietnam News Agency
Follow VietnamPlus

Related News

Southern province seeks more investment from Russia

Southern province seeks more investment from Russia

The southern province of Ba Ria-Vung Tau, the base of the Vietnam-Russia oil and gas joint venture Vietsovpetro, wants to attract more investment from Russian businesses under bilateral cooperation agreements.
PM’s Russia visit to deepen all-round cooperation

PM’s Russia visit to deepen all-round cooperation

Prime Minister Nguyen Xuan Phuc’s official visit to Russia from May 20-23 demonstrates that Vietnam treasures the traditional friendship and comprehensive strategic partnership with Russia, and wishes to strengthen the all-round cooperation, especially in economy, trade and investment.

See more

At Yadea Vietnam’s smart manufacturing plant in Tan Hung Industrial Park, Bac Ninh province (Photo: VNA)

Vietnam ties FDI incentives to local supplier commitments

Incentives will increasingly hinge on investors’ performance and commitments, not just on landing projects. Key commitments include transferring technology to Vietnamese firms, training workers, providing technical support and opening FDI supply chains to domestic companies.

Green SM has launched all-electric taxi service in the US. (Illustrative photo: VNA)

Green SM launches all-electric taxi service in US

The move brings Green SM into one of the world’s most dynamic and demanding markets. It also marks another step in the international expansion of the Vietnamese mobility brand, following its rapid growth across markets in Asia and Europe.

An overview of the meeting between IMF Managing Director Kristalina Georgieva and ASEAN Finance Ministers and Central Bank Governors (Photo: VNA)

Vietnam strengthens financial cooperation at IMF-World Bank annual meetings

The Vietnamese Governor underscored the complementary roles of global and regional financial cooperation mechanisms, including the Chiang Mai Initiative Multilateralisation (CMIM) and the ASEAN+3 Macroeconomic Research Office (AMRO). He also highlighted the importance of technical assistance in fintech, digital transformation, cybersecurity and risk management.

Representatives of the organising committee at the opening ceremony of the fair (Photo: VNA)

Vietnam-Cambodia trade expo promotes bilateral economic cooperation

The Vietnam-Cambodia Business Networking and Product Promotion Exposition has become a key trade promotion event, creating business and investment opportunities while strengthening mutual understanding and trust between the two countries’ armies, people and enterprises.

Vietjet Air’s Airbus A330 taxis at Vaclav Havel Airport in Prague, the Czech Republic. (Photo: VNA)

Vietnam’s airlines expand international networks

The Civil Aviation Authority of Vietnam forecasts that the country’s aviation market will handle 94 million passengers and more than 1.6 million tonnes of cargo in 2026, up 13% and 9.3%, respectively, from 2025.

A representative of Sumika Electronic Materials Vietnam (VSIP Bac Ninh Industrial Park, Tu Son Ward) briefs the delegation from Customs Sub-department Region V on the company's operations. (Photo: báo bắc ninh)

Bac Ninh customs facilitates clearance to boost exports

Pham Chi Thanh, head of Customs Sub-Department Region V, said the unit is focusing resources on developing a digital customs model and streamlining professional procedures to shorten clearance times and reduce costs for businesses while maintaining effective state management.

At the sixth Golden Brand Awards 2026 ceremony (Photo: VNA)

Ho Chi Minh City honours top 50 brands for 2026

The awards aim to recognise brands that can lead their industries, drive innovation and create a ripple effect across the business community, lifting the city’s standing in a new growth stage.