PetroVietnam’s State budget contribution surpasses yearly plan by 21 percent

Hanoi (VNA) – The Vietnam Oil and Gas Group (PetroVietnam) contributed 75.4 trillion VND (3.32 billion USD) to the State budget in the first 10 months of this year, up 23 percent from the same period last year and 21 percent higher than the yearly plan.

During the period, the State-owned corporation exploited 9.09 million tonnes of crude oil, surpassing the yearly target by 12.4 percent. It has cut 2.39 trillion VND in costs, equivalent to 80 percent of this year’s plan.

The firm has so far donated 784.8 billion VND to help the country fight COVID-19, of which 554.9 billion VND went to the COVID-19 vaccine fund.

PetroVietnam has been focusing on developing oilfields BK-18A and BK-19 which are expected to be put into operation over the next few days. It has also been working around clock to soon launch Song Hau 1 and Thai Binh 2 thermal power plants, with turbine No.1 of the Song Hau 1 scheduled to be operational this month./.