5:14:54 PM | 25/8/2008
Vietnamese Prime Minister Nguyen Tan Dung has recently requested the state-owned oil monopoly PetroVietnam group to raise its crude oil output by between 200,000 tons and 300,000 tons to 16.2 million-16.3 million tons this year.
The newspaper did not explain the Premier’s demand but some analysts said the output hike is aimed to satisfy input material demand for the country’s first oil refinery Dung Quat that is expected for operation next February.
The group previously set target to produce between 15.5 million and 16 million tons of crude oil, and attain record revenues of VND300 trillion (US$18.29 billion) in 2008.
PetroVietnam has planned to operate five new oilfields sooner than scheduled in a bid to fulfill its set target for crude oil production this year.
It is carrying out oil exploration in a number of foreign countries such as Myanmar, Cambodia, Egypt, Tunisia, India, Angola, and Cameroon.
The group has clinched 16 deals for oil production abroad while boosting cooperation programs with many other overseas partners to ink agreements for coal gas production in the Red River Delta region. (Investment)
Vietnamese
