HA NOI (Biz Hub)— Total revenue PetroVietnam in the first seven months of the year is estimated to fall 4 per cent year-on-year due to an oil price decrease of around US$8.8 per barrel.

This information was reported by PetroVietnam's Deputy General Director Nguyen Vu Truong Son during an online meeting of the Ministry of Industry and Trade yesterday.

However, PetroVietnam contributed VND96.3 trillion (US$4.58 billion) to the State budget in the January-July period, up 1 per cent year-on-year, Son said.

The group reported petroleum production in July, estimated at 520,700 tonnes, up 25.5 per cent over last year, bringing total production for a seven-month period to over 3.8 million tonnes, up 28.1 per cent year-on-year.

PetroVietnam also extracted 9.7 million tonnes of crude oil in the first seven months, a 1.3 per cent year-on-year rise.

Gas exploitation in the period totatled 6.1 billion cubic metres, up 9.7 per cent against 2012.