|
Crude output falls short of expectation
It is difficult for the Vietnam National Oil and Gas Group (PetroVietnam) to achieve its yearly target of tapping 16.2 million tonnes of crude oil this year, according to a group executive.
So far this year, PetroVietnam has only 57 percent of the set target done, the executive said, adding that output at the newly-operated oil fields such as the Phuong Dong (East) and Ca Ngu Vang (Golden Tuna) has fallen short of expectation and the exploitation at overseas oil fields was delayed due to objective reasons.
Despite low crude oil output, PetroVietnam earned more than 8 billion USD from exports in the first eight months of this year, up 80 percent from the same period last year, thanks to higher price on the world market, the executive said.
The oil price stood at an average 117.6 USD per barrel during the eight-month period, 53.6 USD higher than PetroVietnam’s expectation.
The executive said in a bid to realise the annual target, in the remaining months of this year, PetroVietnam will put more oil fields into operation, along with completing negotiations on three projects overseas with foreign partners, including Zarubezneft and OAO Gasprom of Russia and PDVSA of Venezuela.
VNA
|
