PetroVietnam fulfills 97% of year's export target in first half

The Vietnam Oil and Gas Group (PetroVietnam) has exported 6.85 million tonnes of crude oil in the first six months of this year, earning US$5.72 billion, accounting for 97% of the target set for this year and up 55% compared to the same period last year, the group has announced.

During the period, PetroVietnam has reported its production of 7.19 million tonnes of crude oil and 3.62 billion cubic metres of gas.

The sector's total revenue in the first half of this year hit over VND 144 trillion, with VND 53.5 trillion going to the State budget, up 77% year-on-year.

In implementing the government's instructions to curb inflation, PetroVietnam has suspended or slow down the progress of 112 projects with a total investment capital of VND 6 trillion in 2008.

Members of the group have also reported total saving of over VND 200 billion from practising thrift in the first half of this year.

ND

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