The Viet Nam Oil and Gas Group (Petrovietnam) has fulfilled the crude oil exploitation target set for the whole year, 70 days ahead of schedule.

The information was revealed by Petrovietnam General Director Le Manh Hung at a meeting last week.

The group’s crude oil output reached 9.03 million tonnes in the first ten months of this year, exceeding the yearly plan by 3 per cent, and equivalent to 99.4 per cent of the figure in the same period last year.

Petrovietnam has also striven to meet the demand in the domestic market, contributing to the efforts of the Ministry of Industry and Trade and other State-owned enterprises to guarantee national oil security in the face of impacts from the world energy crisis.

At the same time, the group has adopted a series of solutions to ensure stable production and business.

Petrovietnam’s total revenue in the first ten months of this year was estimated at about VND782 trillion (around US$31.3 billion), exceeding the yearly plan by 40 per cent, and up 56 per cent compared to the same period last year. It contributed VND112.2 trillion to the State budget, surpassing the yearly plan by 74 per cent and equivalent to the figure for the whole of 2021.

The achievements are attributed to the group’s good market forecasting, flexible management and ability to optimise opportunities despite uncertainties in the global petrol market. — VNS