PetroVietnam gains 151tr dong revenue in Q1

Vietnam National Oil and Gas Group (PetroVietnam‐PVN)’s general director, Vu Quang Nam has recently reported that ending 2010, the group’s revenue from services was posted at 152 trillion dong, accounting for 32 percent of the group’s total revenue.

PVN also saved $8.9 billion in two years (2009‐2010) of costs for hiring foreign contractor by using the services in the oil and gas sector.

Apart from developing the traditional services, the group has also developed many new products and services such as EPC oil and gas projects, drilling rig building, maintenance and operations for oil and gas works and building and preparing floating facilities.

In Q1, PVN’s revenue from oil and gas operations made up 45 trillion dong in the group’s total revenue of 151 trillion dong.

Dinh La Thang, PVN’s chair said his group targets to gain over 20 percent growth yearon‐ year with 200 trillion dong of revenue from petroleum services.

Tags: PetroVietnam

Posted by VBN on Apr 6 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