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PetroVietnam’s Jan-April profit reported at $669 mln, completing 94% whole-year goal

Xuan Thinh Monday | 05/10/2021 10:14

General Director Le Manh Hung (middle) is at Phu My Fertilizer Plant. Photo: PVN

Vietnam Oil & Gas Group, known as PetroVietnam, reported VND15,400 billion ($669 million) pre-tax profit in the first four months of this year.

The profit was 2.5 times higher than the achievement of same period of last year, General Director Le Manh Hung said while chairing a recent online meeting.

While pandemic threatens economic recovery in several countries, PetroVietnam's financial results exceeded the target.

In the first four months of 2021, consolidated revenue was estimated at VND124,420 billion ($5.4 billion), up 47% over the same period of last year.

In the period, the group contributed VND27.5 trillion to the State budget, higher than the four-month goal and the same period last year.

All the units in the group have maintained a stable rate of production and business, with 17/22 units reporting profits.

With the positive business results, Hung asked PetroVietnam's member units to continue making better efforts to maintain the pace of production and business and carry out measures to improve corporate governance efficiency, together with an increase in oil prices.

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