National Assembly OKs VND3.5T for PetroVietnam Oil, Gas Projects 2010
The National Assembly, Vietnam’s highest legislative body, has approved allocating VND3.5 trillion (US$195.815 million) to the state-owned Vietnam Oil and Gas Group (PetroVietnam)’s oil and gas projects next year.
The funding will facilitate PetroVietnam’s key oil and gas projects as well as oil and gas exploration operations in 2010.
PetroVietnam needs VND185 trillion to invest in its projects in the 2009-2010 period.
The group earned revenues of VND186.1 trillion in the first nine months of this year, meeting 88% of the full-year target.
This year, PetroVietnam expects revenues of VND260 trillion and tax payments of VND88 trillion. (Saigon Economic Times)
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