State-owned oil monopoly PetroVietnam group has set a target to attain record revenues of VND300 trillion (US$18.29 billion) this year, up 40.58 per cent on year, the Vietnam News Agency reported, citing the group&rsquos figures.
The group aims to rake in US$11 billion from crude oil exports and to contribute VND100 trillion (US$6.09 billion) to the State budget in 2008, the agency said.
In the first six months of this year, PetroVietnam obtained revenue of VND142,342 billion (US$8.67 billion), including US$5.6 billion from crude oil exports, surpassing 46 per cent of the period&rsquos target and fulfilling 76 per cent of this year&rsquos goal.
PetroVietnam contributed VND50.53 trillion (US$3.08 billion) to the state budget in the January-June, exceeding 60 per cent of the period&rsquos target and representing an on year increase of 68 per cent.
The group produced 10.8 million tons of oil equivalents from 7.2 million tons of crude oil and 3.6 billion cubic meters of natural gas in the first half of this year.
PetroVietnam clinched eight new oil and gas contracts, including two in domestic market and six in foreign countries.
It has also met schedules for operations of national key oil and gas projects including Ca Mau power plants, Phu My-Nhon Trach gas pipeline, and Nhon Trach 1 power plant while ensuring implementation progresses of Ca Mau fertilizer plant, Nhon Trach 2 power plant, Block B-O Mon gas pipeline and Dung Quat oil refinery.
The state-owned group stopped 61 key construction projects and 40 equipment purchase projects with a total investment of nearly VND6 trillion (US$365.85 million), accounting for nearly 20 per cent of total capital registered with the government this year in a bid to curb inflation.
PetroVietnam ints to save VND400 billion (US$24.39 million) this year.
It targets to 16 million tons of crude oil and 7.5 billion cubic meters of gas in 2008. (Vietnam & World Economy)
Vietnamese
