PetroVietnam reports nearly $489mln after-tax profit in eight months

In the reported period, the Vietnam Oil and Gas Group collected VND372,308 billion ($16 billion) in revenue. In August alone, consolidated after-tax profit was reported at VND1,368 billion ($58.6 million) on VND41,613 billion ($1.78 billion) in revenue. 

The group’s oil equivalent output was reported at 7.76 million tonnes in the period, up 8.2 percent than the set target. Electricity generation reached more than 14 billion kWh, equivalent to 96.9 percent of the target.

Production of petroleum exceeded 8.2 million tonnes, equivalent to 93.3 percent of the target. The group failed to meet the target due to the Dung Quat Oil Refinery put under maintenance.

PetroVietnam said it will continue with comprehensive solutions to cope with potential risks to its operation in the remaining months of this year, with a focus on managing production costs and maintaining product quality.