Petrotimes – According to Ministry of Industry and Trade, business activities of Petrovietnam National Oil and Gas Group (PVN) have reached and exceeded multiple targets for May and the first 5 months.
Total oil equivalent production reached 2.25 million tons in May, accounting for 106.7% of the plan for May, and reached10.86 million tons in 5 months, accounting for 106,3% compared with 5-month plan, 44% of annual plan and up by 8.4% year on year.

Oil production output in May and 5 months reached 1.39 million tons and  6.76 million tons respectively. Of which, domestic  oil exploitation reached 6.34 million tons and overseas  0.42 million tons. Total gas output was 0.85 billion m3 in May and 4.1 billion m3 in the first 5 months.
The Petroleum industry supplied to the national power grid 1.25 billion kWh in May and 6.49 billion kWh in 5 months .

Fertilizer production output reached 531.2 thousand tons in May. Of which, Camau Fertilizer Plant produced 179.4 thousand tons; Phu My Fertilizer Plant  351.8 thousand tons. In addition, products of Dung Quat Oil Refinery reached 2.63 million tons.

Total revenues of the Group in 5 months was VND 316 trillion (average oil price in 5/2012 is USD 125.3/barrel,  in the first 5 months of 2012  USD127.8/barrel, up by USD 18.8/barrel (17.2%) compared to the average price of 5 months/2011 (USD109/barrel).

PVN has contributed to the State budget VND  71 trillion in 5 months, accounting for 124% of the 5-month plan and 53% of annual plan, up by 22% over the same period of 2011.

In 5/2012 the Group has signed a new oil contract on 17/5/2012 – Block 127 with contractor Mitra Energy (Malaysia).

In the first 5 months, PVN held the ceremoney to announce its first product of Camau Fertilizer Plant on 30/01/2012, had the first trial products from Dung Quat Bio-Ethanol Plant on 03/2/2012, completed its investment and handed the  90-meter jack-up oil rig on 30/3/2012, successfully launched White Bear oilrig platform on 02/05/2012, Hai Thach  oilrig on 14/5/2012, White Lion oilrig on 14/5/2012, and H4 superstructure of White Rhinoceros oil rig on16/5/2012,  inaugurated Nam Cat Hydropower Plant on 10/5/2012….