PetroVietnam earns 9.27 billion USD this year

Vietnam’s National Oil and Gas Group (PetroVietnam) brought in a total revenue of 175.8 trillion VND (9.27 billion USD) during the first five months of this year, an increase of 84 percent year-on-year.

The figures were released at a press conference on June 9 to review the group’s production and business performance since the beginning of 2010.

Of this revenue, PetroVietnam earned 3.65 billion USD from crude oil exports, a jump of 35 percent over the same period last year.

The rise in export turnover is attributed to the higher price of crude oil in the global market, said the group. The price of crude oil in the first five months of this year averaged 82 USD per barrel, 32 USD higher than the corresponding period for 2009.

During the reviewed period, the group contributed 46.74 trillion VND (2.47 billion USD) to the state budget, up 48 percent year-on-year.

PetroVietnam produced nearly 6 million tonnes of crude oil and 3.98 billion cubic meters of gas in the January-May period.

Tags: PetroVietnam