PetroVietnam achieves 2019 targets 2 months before year-end

• PetroVietnam becomes most profitable corporation in Vietnam
• PetroVietnam’s revenue hits 4.8 billion USD in two months

The world economy in 2019 witnessed many changes, including trade wars and competitions between major powers, geopolitical instability in many regions. They impacted negatively on the global and domestic economies.  PetroVietnam also encountered various difficulties in its production and business in this circumstance.

Some key products of PetroVietnam faced fierce competition with imported ones while the oil and gas market fluctuated dramatically.

Against this backdrop, PetroVietnam knew how to overcome all difficulties and challenges to achieve its production and business targets two months before the year ends.

The group’s electricity production in the first 10 months of this year reached 18.55 billion kWh, 5.1% higher than the 10-month target while its petroleum production reached 9.9 million tonnes, up by 5.5% of 10-month target.

The group’s total revenue reached 627.74 trillion VND in the first 10 months of this year, 10.4 percent higher than the 10-month target and 2.5 percent higher than the year’s plan.

It contributed 86.42 trillion VND (3.72 billion USD), exceeding the 10-month plan by 10 percent.

With these achievements, PetroVietnam continues to affirm its position as one of the key economic groups of Vietnam, and one of the three pillars of Vietnam’s energy sector, and an important tool of the Government to regulate the macro-economy, contributing to the economic growth.