PetroVietnam’s Q2 oil output may drop 5 pct

Vietnam Oil & Gas Group’s second- quarter crude oil production may fall 5 percent from the first three months, the state company said.

Production, including overseas output, may drop to 3.5 million metric tons from 3.68 million in the first quarter, the company known as PetroVietnam said in an emailed statement today.

Vietnam, Southeast Asia’s third-largest oil-producer, is trying to boost crude output by developing new fields. PetroVietnam expects to start production in July at the domestic field of Chim Sao and at the Dana block SK305 in Malaysia, according to the statement.

Second-quarter revenue may rise to 152 trillion dong ($7.3 billion) from 151 trillion dong in the first, PetroVietnam said. Pretax profit may total 23.5 trillion dong in the April-to-June period, the company said, without giving a comparable figure.

Natural gas output may fall to 2.17 billion cubic meters in the second quarter from 2.3 billion cubic meters in the previous three months, PetroVietnam said. – Bloomberg

Tags: PetroVietnam

Posted by VBN on Apr 7 2011. Filed under Oil-Gas & Petroleum. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry