Sign up | Log in



Home  >>   Daily News  >>   Vietnam News  >>Energy  >>PetroVietnam surpasses goal for 9-month revenue
NEW UPDATES Asean Affairs  10 October 2014  

PetroVietnam surpasses goal for 9-month revenue

HA NOI  (VNS) — Viet Nam National Oil and Gas Group (PetroVietnam) yesterday reported its revenue hit VND290.5 trillion (US$13.8 billion) in the first nine months of this year, a 10 per cent rise over the group's revenue target for the period.

Net profit reached VND36.5 trillion ($1.73 billion), a 31-per-cent rise over its nine-month profit target.

PetroVietnam's chairman Nguyen Xuan Son said total revenue for the whole group, including affiliates and subsidiaries, reached VND560.1 trillion ($26.5 billion), surpassing the quarterly target by 19.5 per cent and equivalent to 84 per cent of the group's yearly goal.

In the first nine months, PetroVietnam's contribution to the State budget also exceeded the target by 24 per cent. A total of VND125.5 trillion (nearly $6 billion) was handed over to the State budget, equivalent to 89 per cent of the goal set for the whole year.

The company's total production output reached 20.34 million tonnes of oil equivalent (TOE), 8.7 per cent higher than the quarterly target. Of this, crude oil comprised 12.71 million tonnes, an 8.8-per-cent rise over the target; and gas reached 7.64 billion cubic metres, an increase of 8.6 per cent over the target.

Production of electricity, fertiliser and petroleum was also above target - by between 5 per cent and 22 per cent.

Electricity production reached 11.92 billion kWh in the first nine months, up 9.4 per cent over the target. Fertiliser output reached 1.23 million tonnes and petroleum production hit 4.06 million tonnes, up 5.2 per cent and 22.6 per cent, respectively, over the target set for the third quarter.

It is expected that PetroVietnam will achieve its financial targets by late October or early November. These include its contribution to the State budget, which is likely to reach VND167 trillion ($7.9 billion), up 19 per cent over the yearly target.

According to Le Minh Hong, deputy general director of PetroVietnam, the group will focus on implementation of the group's restructuring scheme in the next three months.

It will speed up equitisation of its units while divesting capital from non-core businesses, as well as enhance the competitiveness of companies in the group.

In addition, to accomplish its development strategy, PetroVietnam will closely monitor activities of exploration, exploitation and development of oil and gas fields in the East Sea. — VNS

Reach Southeast Asia!
10- Nations, 560- Million Consumers
And $1 -Trillion Market
We are the Voice of Southeast Asia Media Kit
The only Media Dedicated to Southeast Asia Advertising Rates for Magazine
Online Ad Rates

Comment on this Article. Send them to

Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
submit your comment in the box below

Today's  Stories                            October 10, 2014 Subsribe Now !

• PetroVietnam surpasses goal for 9-month revenue
Subcribe: Asean Affairs Global Magazine
• IFC boosts investments to over $1b until June 2015
• Telenor Myanmar SIMs will work in five neighbouring countries
Research Reports
on Thailand 2007-2008

• Textiles and Garments Industry
• Coffee industry
• Leather and footwear industry
• Shrimp industry

• Thai PM to meet several leaders during ASEM
• HDB resale prices down for 8th consecutive month: SRX
Asean Analysis                    October 9, 2014

• Asean Analysis October 9, 2014
Farmers in the 9 biggest provinces of Mekong River Delta Vietnam invested USD 291.5 million on crop protection in first half of 2014: GfK
Advertise Your Brand

Asean Stock Watch    October 9, 2014
• Asean Stock Watch-October 9 , 2014
The Biweekly Update
• The Biweekly Update  October 3, 2014

ASEAN NEWS UPDATES      Updated: 04 January 2011

 • Women Shariah scholars see gender gap closing
• Bank Indonesia may hold key rate as inflation hits 7 percent
• Bursa Malaysia to revamp business rules
• Private property prices hit new high in Singapore • Bangkok moves on mass transport
• Thai retailers are upbeat
• Rice exports likely to decline • Vietnamese PM projects 10-year socioeconomic plan


This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More






1.  Verifier

1. Verifier

For security purposes, we ask that you enter the security code that is shown in the graphic. Please enter the code exactly as it is shown in the graphic.
Your Code
Enter Code

Home | About Us | Contact Us | Special Feature | Features | News | Magazine | Events | TV | Press Release | Advertise With us

| Terms of Use | Site Map | Privacy Policy  | DISCLAIMER |

Version 5.0
Copyright © 2006-2020 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand