|
PetroVietnam sets $23 billion target
PetroVietnam Group announced a target of VND486 trillion (US$23.1 billion) in revenue this year, in an online press conference on Jan. 04.
At conference sites in Ha Noi, HCM City, Ba Ria-Vung Tau and Quang Ngai, the group said that its revenue would come from crude oil, gas, power, fertiliser, petroleum, chemical products and other services, and it expected to contribute VND101 trillion ($4.8 billion) to the State Budget this year.
Among its products, Petrovietnam planned to churn out 15 million tonnes of crude oil and 8.2 billion cu.m of gas this year.
To realise these objectives, the group would further restructure its organisation and its member companies; remodel management; develop human resources; apply advanced technologies; boost oil and gas exploration locally and abroad and make bold investments, said Le Minh Hong, the group's Deputy Director General.
Dinh La Thang, the group Chairman said: "PetroVietnam needs a total investment capital of $5-6 billion this year, 30 per cent of which will come from its ownership capital and the remainder from equitisation, initial public offerings by its members and commercial loans among others."
This year it will officially start the construction of the Viet Nam Oil and Gas University, the first such institute in the country.
Petrovietnam also mapped out a five-year plan from 2011-15 with a combined revenue estimated at VND3,040 trillion ($144.8 billion), VND650 trillion (Nearly $31 billion) of which will go to State coffers.
It anticipates to produce about 90 million tonnes of crude oil and more than 51 billion cu.m of gas over the next five years.
Last year, it turned over VND478 trillion ($22.8 billion), a year-on-year increase of 59 per cent.
"Oil and gas services contributed around VND152 trillion, making up 32 per cent of the total turnover," Hong said.
"The commencement of operations at the country's first oil refinery in Dung Quat and a polypropylene factory last year marked a significant milestone for the oil and gas industry's development and completed a comprehensive model from exploring and exploiting to processing final products," he added.
Russian joint venture
Vietsovpetro, an oil and gas joint venture between Viet Nam and Russia, will officially celebrate the exploitation of the 190 millionth tonne of crude oil in Ba Ria – Vung Tau on Jan. 05.
The joint venture exploited 1 million tonnes in 1998 and 100 million tonnes in 2001 and 180 million tonnes in 2009, and it is expected to churn out 200 million tonnes early next year.
Vietsovpetro produced 6.4 million tonnes of crude oil last year, about 200,000 tonnes higher than expected, with a total revenue of nearly $4 billion.
"Last year was a good year for the joint venture because it produced the same quantity as in 2009, despite having decreased year-on-year since 2003," said Nguyen Huu Tuyen, Vietsovpetro's Director General.
vietnamnews
|
