This figure is 5 percent higher than the target set for the period and fulfilling 84 percent of its yearly goal. The group also reported its after-tax profits of 18 trillion VND (about 800 million USD), an increase of 11 percent compared with the target set for the year. PetroVietnam has taken synchronous solutions to overcome the sharp drop in global oil prices and maintain the group’s exploitation and production activities.
In the first ten months of 2016, PetroVietnam’s subsidiaries exploited 23.4 million tonnes of oil equivalent, equal to 91.3 percent of the annual target. Production of other products also surpassed its goals in the reviewed period, with electricity; nitrate and gasoline outputs achieving 17.6 billion KWh, 1.3 million tones and 5.6 million tones, respectively.
In 2016, the group planned to exploit 6.5 million tonnes of oil equivalent, including 3.9 million tonnes of crude oil and 2.6 billion cubic metres of gas in the fourth quarter of this year.
The plan aims to lift the total output in the year to 27.6 million tonnes of products, ranking in 514.5 trillion VND (23.15 billion USD) in revenues and contributing 104.2 trillion VND (4.7 billion USD) to the State budget.
