A view of Hai Thach gas and condensate field in southern Ba Ria-Vung Tau Province, part of the Bien Dong 01 project developed by PVN. — Photo courtesy of PVN

The Viet Nam Oil and Gas Group (PVN) reported total revenue of VND283.5 trillion (US$12.2 billion) in the first half of this year, contributing VND32 trillion to the State budget.

Total oil production in the first six months reached 10.73 million tonnes, exceeding by 4.2 per cent the 6-month plan and equal to 52.7 per cent of the yearly plan, of which the output of oil exploitation reached 5.92 million tonnes, exceeding the 6-month plan by 8 per cent. Gas output touched 4.81 billion cu.m, equaling 100 per cent the 6-month plan and equaling 49.4 per cent of the yearly plan.

Electricity production in six months reached 10.90 billion kWh, completing 98.7 per cent of the 6-month plan and 50.5 per cent of the yearly plan.

Nitrogen production totaled 962,400 tonnes, exceeding the 6-month plan by 13.5 per cent and equaling 61.6 per cent of the yearly plan. Petrol production reached 6.40 million tonnes, equaling 96.3 per cent of the 6-month plan and 54.2 per cent of the yearly plan.

PVN's General Director Le Manh Hung said that the group will continue to keep close watch on market developments, update the trend of supply and demand, inventory of crude oil, petrol products and petrochemicals over the world and in the country to timely make responsive decisions with the goal of optimising benefits, compensating for losses during the COVID-19 pandemic. — VNS