Making news

PetroVietnam’s five-month pre-tax profit triples

The Vietnam Oil and Gas Group (PetroVietnam) posted 144.9 trillion VND (6.31 billion USD) in pre-tax profit during January-May, 2.3 times higher than the targeted number set for the period and tripling that of 2020.

At an online meeting on June 7, PetroVietnam General Director Le Manh Hung said in May and over the first five months, the group recorded positive outcomes in almost all fields following its plans and goals.

Oil exploitation output was a highlight, with the volume exceeding the target by 18 percent in May, resulting in good growth in financial indexes for the five-month period.

PetroVietnam reeled in 222.3 trillion VND in revenue, 14 percent higher than the target and increasing 16 percent against the same period last year. The group contributed 32.4 trillion VND to the State budget, exceeding the plan by 23 percent and up 20 percent on-year. 

All member units maintained stable production and business activities, with their inventories put under control, according to Hung.

Amid the complicated developments of COVID-19, the outcomes were attributable to the group’s prompt implementation of specific measures and update on pandemic prevention measures.

PetroVietnam and its member companies have to date donated 480 billion VND for the nation’s fight against the epidemic./