Gas Petrolimex Revises up Revenues in 2004

Gas Petrolimex Revises up Revenues in 2004

Gas Petrolimex, a member of the state-run Vietnam National Petroleum Corporation (Petrolimex), has revised its total revenues in 2004 up to VND900 billion (US$57,17 million) in 2004, compared to the initial estimates of VND855 billion (US$54.46 million).

The new figure posted an on-year increase of 21 per cent. It included a total profit of VND30 billion (US$1.91 million) in the year.

Gas Petrolimex sold 114,000 tonnes of liquefied petroleum gas in 2004, up 8 per cent against 2003, despite the sharp price rises during the year.

In 2003, Gas Petrolimex sold 106,000 tonnes of liquefied petroleum gas and earned VND707 billion (US$44.92 million), and in 1998, it sold 31,000 tonnes and made VND176.75 billion.

The state-run Gas Petrolimex now has one of the largest reserves network in Vietnam with an annual extracting and charging capacity of 60,000 tonnes. Petrolimex depots are mainly allocated in key locations like Hanoi, Haiphong, Danang, Can Tho and Ho Chi Minh City.

Gas Petrolimex has recently put into operation environment-friendly Taxi Gas (Autogas) services in Hanoi and Ho Chi Minh City, two largest cities in Vietnam.

Gas Petrolimex also provides gas supply systems for high-rise buildings.

The company has set up schemes to issue shares to raise its chartered capital to between VND250 billion (US$15.92 million) and VND300 billion (US$19.1 million) in the 2005-07 period.

• T.V