PetroVietnam Tower in HCM City's District 1. The group reported total revenue of VNĐ627.74 trillion (US$27 billion) in the first 10 months of this year, 10.4 per cent higher than the 10-month target. — Photo cyberreal.vn

Total revenue of the Vietnam Oil and Gas Group (PetroVietnam) reached VND627.74 trillion (US$27 billion) in the first 10 months of this year, 10.4 per cent higher than the 10-month target and 2.5 per cent higher than the yearly plan.

The group contributed VND86.42 trillion to the State budget during the period, exceeding the 10-month plan by 10 per cent.

During the period, the firm has exerted efforts to reach the targets against the backdrop of the declining price of Brent crude oil which was fluctuating around $60-62 per barrel, much lower than the projected level of $65 a barrel.

Along with oil and gas, the group also enjoyed high production of other products. It produced 18.55 billion kWh of electricity, 1.26 million tonnes of fertiliser and 9.9 million tonnes of petroleum, surpassing 5.1 per cent, 8.1 per cent and 5.5 per cent of the targets, respectively.

PetroVietnam’s total revenue reached VND626.8 trillion last year, marking an increase of 26 per cent year-on-year, and it contributed VND121.3 trillion to the State budget, up 24 per cent year-on-year. — VNS

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