The National Oil and Gas Group (PetroVietnam) accumulated more than US$2.4 billion from selling 8.68 million tonnes of crude oil and condensate in the first half of this year. — Photo vinacel.com

HA NOI (Biz Hub) — The National Oil and Gas Group (PetroVietnam) accumulated more than US$2.4 billion from selling 8.68 million tonnes of crude oil and condensate in the first half of this year.

The group succeeded in fulfilling 37.2 per cent of the yearly target. 

During the reviewed period, the group provided an estimated 3.73 million tonnes of crude oil for the Dung Quat Oil Refinery, raking in $1.58 billion, equivalent to more than 38 per cent of the target set for the whole year. 

It is expected to deliver 7.09 million tonnes of crude oil and condensate in the last two quarters of this year, including 3.5 million tonnes to the Dung Quat Oil Refinery. 

PetroVietnam Deputy General Director Nguyen Sinh Khang said the group had employed a host of measures to guard against the impact of the global falling oil price since 2014. 

Timely investment projects have helped the group's member units overcome difficulties and create a firm foundation for its future operation, he said. 

Khang added that PetroVietnam leaders had held working sessions with their domestic and foreign partners and mine managers in order to maximise exploitation programmes. 

According to reports, PetroVietnam grossed VND560 trillion ($25.2 billion) in revenue in 2015 despite declining global oil prices. Over the past five years, the group contributed over VND836 trillion to the State budget. — VNS