PetroVietnam rakes in over 9 bln USD in first five months

08:28, June 10, 2010      

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The Vietnam National Oil and Gas Group, PetroVietnam, brought in a total revenue of 175.8 trillion Vietnamese dong (9.27 billion U.S. dollars) in the first five months of this year, a plunge of 84 percent year-on-year.

The figures were reported at a conference held here on Wednesday to review the group's business performance over the first five months.

Of its revenue, PetroVietnam earned 3.65 billion U.S. dollars from crude oil export turnover, posting a year-on-year climb of 35 percent.

The rise in export turnover was attributed to higher prices of crude oil in the global market, said the group. The price of crude oil in the first five months of this year averaged at 82 U.S. dollars per barrel, 32 U.S. dollars higher than the corresponding period of 2009.

During this period, the national oil and gas group contributed 46.74 trillion Vietnamese dong (2.47 billion U.S. dollars) to the state budget, up 48 percent year-on-year.

PetroVietnam exploited six million tons of crude oil and 3.86 billion cubic meters of gas in the January-May period.



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