PetroVietnam has handed in the budget a VND 37.6 thousand billion sum over the plan

PetroVietnam has handed in the budget a VND 37.6 thousand billion sum over the plan - 

At the press conference on December 30, 2014, PetroVietnam (PVN) informed that, in 2014 the Group handed in the State budge a VND 178.1 thousand billion sum over the year plan for VND 37.6  thousand billion, equivalent to US$ 1.77  billion

Chairman Nguyen Xuan Son and Vice President Le Minh Hong chaired the press conference.

Mr. Nguyen Xuan Son – the PVN Chairman informed: PVN has completed all the targets of 2014 year plan, especially, in early November, PVN already completed paying the 2014 state budget.

In 2014, the total turnover of the whole PVN reached VND 745.5 thousand billion, accounting 111.8% year plan.

According to Mr. Nguyen Minh Hong, PVN Deputy Director General, the increase in Petroleum reserves reached of 48.11million ton of equivalent oil, accounting 137.5% year plan, that will ensure for PVN to maintain a stable development in following years.

Mr. Hong also said, in 2014 PVN had discovered 9 new petroleum mines (8 domestic and 1 oversea ones and put 8 mines/projects (7 domestic and 1 oversea ones) into exploitation.

In 2014, the production and business activities of PVN had been reached: the total equivalent oil production as 27.6 million ton accounting 107.3% year plan, of which the crude oil 17.39 million ton, accounting 107.3% plan and exceeding the plan assigned by government for 1.2 million; gas production as 10.2 billion m3, accounting 107.5% year plan; power generation as 16.48 TWh, accounting 105% year plan; fertilizer production as 1.64 million tons, accounting 107.7% year plan; production of petrolic products as 15.71 million ton, accounting 123.3% year plan. The petroleum services were maintained with a VND 240.7 thousand billion turnover, accounting 109% year plan and 32% total turnover of PVN.

Regarding the development investment, the implementing progress of the State and PVN focusing projects had been controlled very closely with a 82.8 thousand billion investment capital and a 81 thousand billion expenditure in 2014

In 2014, PVN had completed and put into operation 37 projects as: commercial generation of Dakdrinh hydropower plant, testing operation of the units number 1 and 2 of Vung Ang 1 thermal power plant, completing investment and putting into operation of 500kV distribution yard of Vung Ang power center.

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