• 4 minutes Projection Of Experts: Oil Prices Expected To Stay Anchored Around $65-70 Through 2023
  • 7 minutes Oil prices forecast
  • 11 minutes Algorithms Taking Over Oil Fields
  • 14 mintues NIGERIAN CRUDE OIL
  • 1 day Spy&State: Huawei Founder Says Firm Does Not Spy For China
  • 22 hours How Much Oil Does Aramco Have?
  • 10 hours How Is Greenland Dealing With Climate Change?
  • 19 mins Socialists want to exorcise the O&G demon by 2030
  • 5 hours Venezuela continues to sink in misery
  • 18 mins UK, Stay in EU, Says Tusk
  • 3 hours German Carmakers Warning: Hard Brexit Would Be "Fatal"
  • 1 day Oil Slide Worries Traders. *relax* This Should Get Sorted by Year End.
  • 18 hours China Car Sales Plummet: Can Musk Unshovel His Groundbreaking?
  • 14 hours "Peace Agreement" Russia vs Japan: Control Over Islands Not Up For Discussion
  • 32 mins Solid-State Batteries
  • 13 hours WSJ: Gun Ownership on Rise in Europe After Terror Attacks, Sexual Assaults
  • 14 hours Regular Gas dropped to $2.21 per gallon today
Russia’s Risky Venture Into The Sudans

Russia’s Risky Venture Into The Sudans

Russia’s Sudan offensive is a…

WoodMac: LNG Glut Not Likely In 2019

WoodMac: LNG Glut Not Likely In 2019

WoodMackenzie isn’t concerned that the…

PetroVietnam’s Earnings Surge

State owned oil and natural gas company PetroVietnam saw its earnings surge for the period January-May of this year.
 
PetroVietnam’s Deputy General Director Le Minh Hong said that the company’s earnings surged by 47 percent over the same period in 2010 to $23.48 billion, contributing $5.52 billion to the state budget.
 
Hong said that PetroVietnam’s gross revenue was now equivalent to 98 percent of PetroVietnam's yearly target and will likely reach its goal later this month, commenting,
"PetroVietnam estimates to gain a total revenue of $32.28 billion for the whole year, surpassing its initial target set for this year by $8.5 billion," VietnamPlus news agency reported.
 
PetroVietnam’s contributions to the state budget represented an increase of 14 percent over its final target for 2011 and a 32 percent rise over the same period last year.
 
For the period January-September 2011, with oil prices ranging between $100-$115 per barrel, PetroVietnam's oil sales totaled $9.3 billion, a year-on-year increase of 49 percent and exceeding PetroVietnam's yearly plan by 9 percent.
 
This year PetroVietnam expanded its available oil and natural gas reserves with the discovery of three new oil and natural gas fields and the signing of five new oil and natural gas agreements, including four domestic deals and one overseas contract.

By. Joao Peixe, Deputy Editor OilPrice.com



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News