PetroVietnam’s five-month pre-tax profit triples

Oil exploitation output was a highlight, with the volume exceeding the target by 18 per cent in May, resulting in good growth in financial indexes for the five-month period.—  Photo petrotimes.vn

 HÀ NỘI — The Vietnam Oil and Gas Group (PetroVietnam) posted VNĐ144.9 trillion (US$6.31 billion) in pre-tax profit during January-May, 2.3 times higher than the target for the period and triple that of the same spell in 2020.

At an online meeting on Tuesday, PetroVietnam General Director Lê Mạnh Hùng said in May and over the first five months, the group recorded positive outcomes in almost all fields.

Oil exploitation output was a highlight, with the volume exceeding the target by 18 per cent in May, resulting in good growth in financial indexes for the five-month period.

PetroVietnam reeled in VNĐ222.3 trillion in revenue, 14 per cent higher than the target and up 16 per cent against the same period last year. The group contributed VNĐ32.4 trillion to the State budget, exceeding the plan by 23 per cent and up 20 per cent year-on-year.

All member units maintained stable production and business activities, with their inventories under control, according to Hùng.

PetroVietnam and its member companies have to date donated VNĐ480 billion for the nation’s fight against the pandemic. — VNS