PetroVietnam exceeds targets two months before year-end
The Vietnam Oil and Gas Group (PetroVietnam) has exceeded its set yearly targets in terms of revenue, profit and state budget contribution two months before the year-end.
PetroVietnam exceeds targets two months before year-end. (Photo:VNA)
Hanoi (VNA) – The Vietnam Oil and Gas Group (PetroVietnam) has exceeded itsset yearly targets in terms of revenue, profit and state budget contribution two months before the year-end.
The group’stotal revenue reached 627.74 trillion VND (27 billion USD) in the first 10 months of this year, 10.4percent higher than the 10-month target and 2.5 percent higher than the yearlyplan.
It contributed86.42 trillion VND (3.72 billion USD), exceeding the10-month plan by 10 percent.
During theperiod, the firm has exerted efforts to reach the targets against the backdropof declining price of Brent crude oil which was fluctuating around 60 – 62 USDper barrel, much lower than the projected level of 65 USD per barrel.
Along with oiland gas, the group also enjoyed high production of other products. It produced18.55 billion kWh of electricity, 1.26 million tonnes of fertilizer and 9.9million tonnes of petroleum, surpassing 5.1 percent, 8.1 percent and 5.5percent of the targets,respectively.
Last year, PetroVietnam’stotal revenue reached 626.8 trillion VND, an increase of 26 percent compared to2017, and it contributed 121.3 trillion VND to the State budget, up 24 percentyear-on-year./.
The Vietnam Oil and Gas Group (PetroVietnam) earned 489.5 trillion VND (over 21 billion USD) in revenue in the first eight months of the year, exceeding the target by 19 percent although the average price of crude oil fell to 58.62 USD per barrel in August compared to the predicted price of 65 USD per barrel.
Fitch Ratings has assigned the Vietnam Oil and Gas Group's (PetroVietnam) first-time long-term foreign-currency issuer default rating (IDR) at 'BB' with a positive outlook.
In the context of the growing global digital economy, digital transformation and the promotion of e-commerce are key drivers helping Vietnam boost integration, enhance competitiveness, and expand export markets, according to the Vietnam E-commerce and Digital Economy Agency
Tilapia is considered highly competitive in export markets thanks to its affordability, ease of processing, and appeal across both high-end and mass-market segments.
In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Viettel was ranked third for overall mobile performance with a score of 82.56 just behind UEA’s e& (88.05) and Quatar’s Ooredoo (87.05) and ahead of Singapore’s Singtel (82.53). Vinaphone took second in 5G speed with a score of 78.11, trailing only behind e&.
PM Chinh proposed MUFG work closely with the Ministry of Finance to improve legal frameworks and support the establishment and operation of the international financial centre in Da Nang and Ho Chi Minh City.
The Prime Minister emphasised the significance of maintaining macroeconomic stability, controlling inflation, promoting growth, and improving the harmony between monetary and fiscal policies.
PetroVietnam exceeds targets two months before year-end. (Photo:VNA)
