By the end of November, the Vietnam Oil and Gas Group (Petrovietnam) had completed all targets of finance and oil and gas exploitation and production in 2022 ahead of schedule, and set new records in revenue and pre-tax profit, according to its General Director Le Manh Hung.

The crude oil output in the first 11 months of 2022 reached 9.91 million tonnes, exceeding the yearly target by 13 per cent.

The group's total revenue in 2022 reached the highest-ever level of VND854 trillion (over US$36.22 billion). It contributed VND134.5 trillion to the State budget, completing the plan set for the year ahead of six months.

As of November 16, the group fulfilled the mining development plan set for the year, putting five new mines into operation, actively contributing to increasing output, ensuring stable exploitation from mines of the group in 2022 and the coming years.

In the context of complicated fluctuations in crude oil prices, plunging world oil prices, and decreasing oil demand in Europe and the US due to the impact of the economic recession, Petrovietnam still achieved positive production and business results in November and the first 11 months of 2022 thanks to taking effective and timely solutions. — VNS