PetroVietnam’s crude oil exports rise 18 percent

Vietnam Oil & Gas Group, the state-owned utility known as PetroVietnam, estimates its crude oil exports rose 18 percent in the first half to 8.35 million tons, according to an e-mailed statement Thursday.

Production of crude oil and condensate also increased, by 20 percent from the same period last year.

Hanoi-based PetroVietnam estimates its first-half revenue at VND119.3 trillion (US$6.5 billion), or 112 percent of the target.

Chairman Dinh La Thang and CEO Tran Ngoc Canh were not immediately available to comment.

PetroVietnam aims to produce 16 million tons of crude oil and condensate, and eight billion cubic meters of gas in 2009, and to export 12.05 million tons of crude oil and condensate this year.

In the first six months, PetroVietnam supplied about 383,000 tons of crude oil to the recently commissioned Dung Quat refinery in central Vietnam.

It plans to supply a total of 3.5 million tons of oil for the country’s first oil refinery this year.

thanhnien, Bloomberg

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