Petrovietnam posts growth in various production fields last month

Hanoi: The Vietnam Oil and Gas Group (Petrovietnam) said it recorded growth in multiple production aspects in January compared to the previous month and the same period last year.

At a recent meeting on production and business tasks of the first quarter, Deputy General Director of Petrovietnam Le Xuan Huyen said that the State-owned firm fulfilled most of the targets for January and saw year-on-year increases.

The crude oil output reached 865,000 tonnes, up 2.8% from the target and 1.5% from last December. The gas production stood at 552 million cu.m, up 8.7% month on month and 1.4% year on year. Meanwhile, the electricity output rose 18.4% from the previous month and 35% from a year earlier to 2.23 billion kWh.

About 640,200 tonnes of petrol and oil was manufactured (excluding products of the Nghi Son Refinery and Petrochemical LLC), 43.1% higher than the target and rising 2.9% month on month and 9.2% year on year. Nearly 161,000 tonnes of fertiliser was produced, up 5.1% from the target, 1.9% from Decemb
er, and 1% from January last year, statistics show.

As a result, Petrovietnam also saw its financial indexes higher than planned, Huyen noted, elaborating that its total revenue approximated 69 trillion VND (2.8 billion USD), up 17% from the target and 14% year on year.

It contributed 9.9 trillion VND to the state budget, rising 19% from the target and 13% year on year, he added.

Chairman and General Director of Petrovietnam Le Manh Hung said as production and business activities are predicted to continue facing difficulties in the time ahead, the group will stay updated with the macro-economic situation, make analysis and assessment, seek ways to renew old impetuses, and add new drivers for its development./.

Source: Vietnam News Agency