Petrovietnam contributes more than 66 trillion dong to the state budget in H1 2022

With the high efforts, effective management of fluctuations and utilization of market opportunities, in the first 6 months of 2022, the Vietnam Oil and Gas Group (Petrovietnam) has maintained stable production output and operations, production and business activities grew positively, contributing VND66,100 billion to the State budget.

Petrovietnam promotes oil and gas exploitation to ensure domestic supply.

In the past 6 months, the world situation has experienced many big, fast, and complicated changes. That has also had a significant impact on Petrovietnam’s operations. However, with flexibility, proactiveness, radicalness and unity in direction and administration in all areas of operation, focusing on governance, application of information technology, digital transformation; optimizing technical solutions as well as maximizing favorable conditions and forecasts for response solutions; along with many efforts to implement many solutions to maintain and increase production output in the situation of decreasing natural production in all oil and gas fields due to being exploited for too long, Petrovietnam has achieved remarkable results in the first 6 months of 2022.

Specifically, crude oil exploitation in June 2022 of the Group reached 0.9 million tons, exceeding 23% of the plan in June, in 6 months, reaching 5.48 million tons, exceeding 23% of the 6-month plan and equaling 63% of the 2022 plan; equal to 100% compared to the same period in 2021.

Accordingly, the Group’s total revenue reached VND468,300 billion, 2 times higher than the 6-month plan, reaching 84% of the annual plan and increasing 55% compared to the same period in 2021. The Group’s budget contribution reached VND66,100 billion, 2.2 times higher than the 6-month plan, completing and exceeding 2% of the 2022 plan and increasing 41% compared to the same period in 2021. The Group’s business results were acknowledged and appreciated by the Government.