PetroVietnam 08 Power, Gas Revenue Reaches VND25Tln

The Vietnam Oil and Gas Group (PetroVietnam) reportedly obtained a combined power and gas revenue of over VND25 trillion (US$1.48 billion) last year.

 

The group continued safely operating the gas pipelines of Rang Dong-Bach Ho-Phu My, Nam Con Son and PM3-Ca Mau, which transported 6.98 billion cubic meters of dry gas, 70,000 tons of condensate and 260,000 tons of LPG during the year.

 

PetroVietnam-invested power plants of Ca Mau 1, Ca Mau 2 and Nhon Trach 1 also supplied 3.4 billion kWh of electricity for the national power grid in 2008.

 

The group earned a total revenue of VND280.05 trillion (US$16.57 billion) in 2008, equivalent to 20 per cent of the nation’s GDP, surpassing 49.6 per cent of the year’s target and representing an on-year increase of 31.2 per cent.

 

This year, PetroVietnam targets to tap 24 million tons of oil equivalents from 16 million tons of crude oil and condensate, and 8 billion cubic meters of natural gas; export 11.68 million tons of crude oil and condensate; and produce 7.5 billion cubic meters of dry natural gas, 740,000 tons of urea and 10 billion kWh of power.

 

The group aims to post revenues of VND212.5 trillion (US$12 billion) and contribute VND61.6 trillion (US$3.5 billion) to the state coffer this year. (The People, Financial Investment)