After eight months, Vietnam Oil and Gas Group's total revenue reached 85 percent of the plan.

DNHN - In eight months, Vietnam Oil and Gas Group (PetroVietnam) achieved 575,8 trillion VND in total revenue or 85 percent of its annual revenue target.

Vietnam Oil and Gas Group (PetroVietnam, HOSE: PVN) reported positive financial results for the first eight months of 2023, outperforming the market despite numerous objective factors affecting the industry. oil and gas sector.

In eight months, the Group's total revenue reached 575,8 trillion VND, achieving 85 percent of its annual revenue target. This demonstrates the consistency and adaptability of the Group's business plan. Notably, the Group completed payment to the State budget after seven months, five months earlier than anticipated.

In eight months, the estimated consolidated pre-tax profit exceeded the annual plan by 8%, reaching over 36.7 trillion VND.

In 2023, PetroVietnam expects the Group to generate 677.7 trillion VND in revenue (excluding the Nghi Son factory) and a consolidated profit of 34 trillion VND. In addition, the Group estimates a total payment to the State budget of 78.3 trillion VND.

The output of products such as electricity, urea, petrol, LPG, and polypropylene increased in August compared to the previous month. The capacity of the Dung Quat oil refinery ranges between 112% and 114%.

In the first eight months of 2023, total crude oil extraction output and production of other products such as nitrogen, electricity, LPG, petrol, and polypropylene reached high and stable levels.

In summary, Vietnam Oil and Gas Group (PetroVietnam) had a successful first quarter, exhibiting flexibility and efficiency in business and production, and overcoming obstacles posed by oil price fluctuations and the market.

P.V (t/h)