PetroVietnam has achieved 10.4% of the plan for paying state budget

By the end of September 2018, the total state budget of PVN (PVN) reached VND 81.4 trillion, surpassing 52.1% of the plan in nine months and exceeded 10.4% of the annual plan.

Worker on the oil rig

In 2018, PetroVietnam will continue to carry out production and business tasks in the context of a volatile oil and gas market, the world economy imposes many risks, while there are many difficulties and problems of the Group as well as the member units have not been resolved in time. However, PetroVietnam has exceeded its production and business targets for the first nine months of 2018.

Oil and gas exploration and exploitation continues to be implemented as planned; Reverse increases in 9 months reaching 6 million tons of oil (the whole year plan is 10-15 million tons of oil). There are two new petroleum discoveries at the East White Cat -1X (Block 09-1, VSP), South Saturn Well-1X. Bunga Pakma-PM3CAA has been into operation from 12^th May 2018 (earlier than 1 month 19 days).

Total oil output reached 18.17 million tons, equaling 105.9% of 9-month plan and equaling 79.6% of the year plan, of which: 10.56 million tons, exceeding 5.3% compared to monthly plan and 79.8% of the year plan; Gas output reached 7.61 billion m3, surpassing 6.8% (equivalent to 480 million m3 compared to 9-month plan) and equaling 79.3% of the year plan.

Electricity, petrol, and petrol production keep a good pace. In specifically, electricity production reached 16.03 billion kWh, exceeding 0.4% of 9-month plan and 74.3% of the year plan; Nine-month fertilizer production was 1.23 million tons, surpassing 9-month plan by 7.0% and fulfilling 80.2% of the year plan; Petroleum production reached 6.50 million tons, equal to 83.1% of 9-month plan and equal to 55.2% of the plan.

Regarding financial targets, total revenue of the Group reached VND 449.1 trillion, exceeding 20.1% of the 9-month plan plan and 84.6% of the year plan. Total State budget payment for the reached VND 81.4 trillion, surpassing 52.1% of the 9-month plan and exceeding 10.4% of the year plan.

Ha Le