Vietnam Oil and Gas Group (PVN) posted a consolidated profit at VNĐ29.6 trillion in the first seven months of this year, exceeding its plan by 75 per cent.

PVN saw growth in all financial targets against its plan and the same period of last year.

Its total revenue stood at VNĐ567.4 trillion, exceeding 31 per cent against the plan and 14 per cent year-on-year.

The group contributed VNĐ84.6 trillion to the State budget, exceeding 54 per cent against the plan and 8 per cent over the same period last year.

During the first seven months of 2024, its exploited crude oil output reached 5.81 million tonnes, up by 19.1 per cent compared to the plan, while exploited gas output was 3.97 billion cu.m, exceeding the plan by 30.4 per cent.

Its electricity production reached 17.22 billion kWh, up 15.2 per cent over the same period.

PVN produced 1.11 million tonnes of nitrogenous fertiliser, exceeding the plan by 6.3 per cent, 3.64 million tonnes of gasoline, 21 per cent higher than the plan and 194,200 tonnes of NPK fertiliser, 4.4 per cent higher than the plan.

The group has also put into operation three liquefied petroleum gas (LPG) tanks at PV GAS Vũng Tàu Port, while this month, its Thái Bình 2 thermal power plant joined the electricity market. — VNS