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Petrovietnam sets new records in revenue, pre-tax profit
By the end of November, the Vietnam Oil and Gas Group (Petrovietnam) had completed all targets of finance and oil and gas exploitation and production in 2022 ahead of schedule, and set new records in revenue and pre-tax profit, according to its General Director Le Manh Hung.
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| Petrovietnam sets new records in revenue, pre-tax profit. - Illustrative image. |
The crude oil output in the first 11 months of 2022 reached 9.91 million tonnes, exceeding the yearly target by 13%.
The group's total revenue in 2022 reached the highest ever level of 854 trillion VND (over 36.22 billion USD). It contributed 134.5 trillion VND to the State budget, completing the plan set for the year ahead of six months.
As of November 16, the group fulfilled the mining development plan set for the year, putting five new mines into operation, actively contributing to increasing output, ensuring stable exploitation from mines of the group in 2022 and next years.
In the context of complicated fluctuations in crude oil prices, plunging world oil prices, and decreasing oil demand in Europe and the US due to the impact of the economic recession, Petrovietnam still achieved positive production and business results in November and the first 11 months of 2022 thanks to taking effective and timely solutions.
The group's units have focused on diversifying forms of linkage and cooperation in order to optimise available resources and assets, contributing to improving its competitiveness and sustainable development.
Promoting scientific research and development, application of technology, and digital transformation, have proven effective, practically contributing to the firm's production, business, growth and development, Hung noted.
Besides production-related solutions, Petrovietnam will continue to implement volatility and cost management, and market solutions for products and services in the coming time in order to stabilise its production and business activities, he added./.
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