PetroVietnam Says Annual Output Unaffected by COVID-19

Wednesday, November 25, 2020

Vietnam's state oil firm PetroVietnam said on Wednesday it was on track to meet its targeted rate of production this year, despite the impact of the coronavirus pandemic and the fall in global crude oil prices.

The company, formally known as Vietnam Oil and Gas Group, produced 18.12 million tonnes of crude oil and gas equivalent in the year to Nov. 15, meeting 89% of the yearly target set before the pandemic, it said in a statement.

It produced 10.2 million tonnes of refined petroleum products during the period, meeting 86.5% of its yearly target, the company added.

PetroVietnam is the largest contributor to Vietnam's state budget and often accounts for more than 10% of the Southeast Asian country's gross domestic product.

The company said it paid 61.7 trillion dong ($2.66 billion) to the state budget in the period, without giving comparative figures.


($1 = 23,160 dong)

(Reporting by Khanh Vu; Editing by Martin Petty)

Categories: Energy Production Asia Vietnam

Related Stories

Southeast Asia’s 2GW Cross-Border Offshore Wind Scheme Targets 2034 Buildout

Pharos Energy Kicks Off Drilling Campaign Offshore Vietnam

US Pressure on India Could Propel Russia's Shadow Oil Exports

Energy Drilling’s EDrill-2 Rig Starts Ops for PTTEP in Gulf of Thailand

RINA Wins FEED Contract for Petronas’ Flagship CCS Project in Malaysia

Eni-Petronas Gas Joint Venture Up for Launch in 2026

Vietsovpetro Brings BK-24 Oil Platform Online Two Months Early

Ventura Offshore’s Semi-Sub Rig to Keep Drilling for Eni in Asia

Timor Gap Boosts Stake in Finder Energy’s Timor-Leste Oil Fields

SBM Offshore Starts Construction of FSO for Trion Oil Field off Mexico

Current News

Sponsored: UAE Breaks Ground on World First Gigascale Renewable Energy Project

Pertamina Joins Petronas in Ultra-Deepwater Asset off Indonesia

Malaysia’s Petronas and Oman’s OQEP Strengthen Oil and Gas Ties

Southeast Asia’s 2GW Cross-Border Offshore Wind Scheme Targets 2034 Buildout

Pharos Energy Kicks Off Drilling Campaign Offshore Vietnam

Viridien to Shed More Light on Malaysia’s Offshore Oil and Gas Potential

US Pressure on India Could Propel Russia's Shadow Oil Exports

Energy Drilling’s EDrill-2 Rig Starts Ops for PTTEP in Gulf of Thailand

RINA Wins FEED Contract for Petronas’ Flagship CCS Project in Malaysia

ABL Secures Rig Moving Assignment with India's ONGC

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com