Drilling rigs on Bạch Hổ field. — VNA/VNS Photo Huy Hùng

PetroVietnam has paid VNĐ78.31 trillion (over US$3.29 billion) to the State budget over the past seven months, fulfilling its target set for the whole year. 

According to the company, during the period global growth was low, consumer demand was weak while protectionist barriers increased, financial markets fluctuated, and monetary tightening policies were applied in many countries.

In addition, many new challenges emerged in terms of global food security, supply chain disruptions, volatile energy markets, and negative prices and demand. As a highly open economy, Việt Nam was facing dual effects from unfavourable factors.

In that context, the Government made great efforts to implement many solutions to remove difficulties and support the economy. Thus the State continued to be steadfast and did not change the growth target of 2023, although it was extremely challenging for the company to achieve this goal.

As a leading economic and energy corporation in Việt Nam, PetroVietnam has drastically implemented appropriate and timely solutions according to the direction of the market with the top priority given to volatility management, scale expansion, digital transformation acceleration, productivity improvement, and business reinvention. 

As a result, PetroVietnam has maintained stable and highly efficient production and business activities.— VNS