PetroVietnam Revenues Down 12% to VND214.59T in Jan-Oct

The state-owned Vietnam Oil and Gas Group (PetroVietnam) had revenues of VND214.59 trillion ($11.605 billion) in the first ten months of this year, down 12% from a year earlier.

Of the sum, the group gained VND70 trillion from services, accounted for 30%, the Vietnam News Agency quoted PetroVietnam Deputy General Director Le Minh Hong..

Hong also attributed the revenue decrease to an accumulative drop of 50% in crude oil prices during the period.

PetroVietnam paid taxes of VND72.5 trillion between Jan and Oct, he added.

This year, PetroVietnam expects to have revenue of VND260 trillion and tax payments of VND88 trillion. (VNA)

Tags: Petro Vietnam, Vietnam enterprise

Posted by VBN on Nov 30 2009. Filed under Enterprises, 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