PetroVietnam Posts Steady Growth in 8M/2013

StoxPlus | Fri, Sep 6, 2013 04:50:00 PM Share this on

Vietnam Oil and Gas Group, or PetroVietnam (PVN) reported a steady growth in the first 8 months of this year with VND359.1 billion revenues ($16.94 million), the firmed said in a meeting with the Ministry of Industry and Trade on September 3.

In details, in Jan-Aug period, the group’s oil exploitation output was estimated at 11.02 million tons (including 1.32 million tons in August, up 2.2% from earlier plan); gas exploitation output was estimated at 6.76 billion cubic meter (m3). The corporation tapered 17.78 million tons of oil equivalent in the period, the state-run gas and oil group said in its website.

PVN also produced 1.42 billion kWh electricity in August, meeting 127% plan, extending the figure to 11.36 billion kWh in the first 7 months of this year (the group has not prepared figures for the first 8 months of the year).

Dung Quat Oil Refinery factory- a member of PVN also operated stably in the period, producing 551.5 thousand tons of gasoline and oil in August, up 59.4% on year, extending the figures to 4.4 million tons in Jan-Aug period, up 33.2% on year.

In term of construction, PVN has poured total of VND28 trillion (VND1.32 trillion) in investments and the group has disbursed VND23.6 trillion in the first 8 months of this year.

Source: StoxPlus