188bet asia PetroVietnam sees strong growth in Q1
In March, 188bet asia company witnessed significant growth in all key production indicators, with daily oil production reaching its highest level of 188bet asia year.
Engineers at Dung Quất oil refinery. Petrovietnam’s total revenue reached VNĐ231 trillion (US$9.1 billion) in 188bet asia first quarter, up 19 per cent year-on-year. — Photo courtesy of Petrovietnam
HÀ NỘI — PetroVietnam continued to post robust business results in 188bet asia first quarter of 2024 thanks to effective management amid volatilities, while investment disbursement remained modest.
In March, 188bet asia company witnessed significant growth in all key production indicators, with daily oil production reaching its highest level of 188bet asia year.
Particularly, crude oil production surpassed expectations by 20.1 per cent to 0.87 million tonnes while gas production exceeded projections by 35.7 per cent to 618 million cubic metres.
Nitrogenous fertiliser output increased 7 per cent from 188bet asia monthly target to 160,700 tonnes, NPK production soared 74.3 per cent to 34,400 tonnes, and electricity output surged 74.3 per cent to 2.61 billion kWh.
As a result, most production indicators of PetroVietnam were successfully achieved, exceeding 188bet asia planned targets in 188bet asia first quarter.
Compared to 188bet asia same period last year, petroleum production, including output from Nghi Sơn Refinery and Petrochemical, increased by 9.8 per cent, while electricity production increased by 17.5 per cent, nitrogenous fertiliser rose by 3.2 per cent and NPK production climbed by 41 per cent.
Despite Petrovietnam's core product prices dropping by 2-16 per cent year-on-year in 188bet asia first quarter, its key quarterly financial targets were mostly exceeded by 33 - 56 per cent, showing significant growth compared to 188bet asia same period last year.
In 188bet asia first three months of 188bet asia year, Petrovietnam’s total revenue reached VNĐ231 trillion (US$9.1 billion), up 19 per cent over last year and exceeding 188bet asia quarterly plan by 40 per cent.
188bet asia total budget contribution is estimated at VNĐ31.3 trillion, surpassing 188bet asia quarterly plan by 40 per cent and increasing by 5 per cent from last year. Total investment value was VNĐ4.93 trillion, a 44.6 per cent increase from Q1/2023.
During 188bet asia period, 188bet asia business operations of members and subsidiaries were stable, with many units such as Binh Sơn Refining and Petrochemical Co Ltd, PVOIL, PV GAS, PVCFC, PVI and PVDrilling, successfully meeting their targets.
188bet asia comprehensive maintenance work at 188bet asia Dung Quất refinery is closely following 188bet asia schedule. Petrovietnam continues to increase supply to meet 188bet asia maximum demand for gas, electricity, petroleum products and other key products for 188bet asia economy.
At 188bet asia meeting with subsidiaries' leaders, Lê Mạnh Hùng, Chairman of 188bet asia Board of Directors, President and CEO of 188bet asia group, emphasised 188bet asia need to maintain oil and gas production, address declining domestic gas output, ensure fuel supply for production and power plants during peak periods, manage supply chain risks, promote investment, control exchange rate risks and stay committed to Petrovietnam’s management plan.
He requested focus on investment management, especially on large projects such as Block B – Ô Môn, upgrading and expanding Dung Quất oil refinery, and investing in areas expected to form energy industry centres such as Cà Mau, Bà Rịa – Vũng Tàu, Quảng Ngãi, Thanh Hóa, Hà Tĩnh and Hải Phòng. — VNS
Theo vietnamnews.vn