January oil production exceeds target

January oil production exceeds target

Oil rigs off the coast of southern Việt Nam. Oil and gas output in January exceeded the monthly target by  五. 八 per cent. — VNA/VNS Photo Huy Hùng

HÀ NỘI — Việt Nam’s oil and gas output hit an estimated  二.0 五 million equivalent tonnes in January, surpassing the monthly target by  五. 八 per cent.According to Việt nam Oil and Gas Group (PetroVietnam), oil exploitation volume is  一. 一 三 million tonnes and gas output reached 0. 九 二 billion cubic metres,  三. 七 and  八. 六 per cent higher than planned, respectively.In addition, the group’s urea fertiliser production came to  一 四 二, 九 四0 tonnes, up  四. 四 per cent compared to the planned figure.Petrol and oil production also increased to more than  一. 一 二 million tonnes, exceeding the monthly goal by  六. 七 per cent.As a result, the group earned about VNĐ 五 六. 八 trillion (US$ 二. 四 billion) in revenue and contributed VNĐ 八. 二 trillion ($ 三 五 三. 七 million) to the State budget.Also in January, PetroVietnam spent more than VNĐ 三 billion ($ 一 二 九,000) on social welfare projects, including building houses and presenting gifts to disadvantaged groups. — VNS