PetroVietnam Reported Revenue

The Viet Nam National Oil and Gas Group or PetroVietnam has reported US$1.6 billion in revenue for the first two months of the year, setting US$10.5 billion target for 2007, said Dinh La Thang, company chairman.

Thang made his statements at a company conference in the capital city on March 1.

PetroVietnam earned around 1.12 billion USD in January and February from exporting 2.58 million tonnes of crude oil, and is expected to pay US$638 million in taxes, said Deputy General Director Le Minh Hong.

The company pumped 2.54 million tonnes of oil, 1.34 billion cubic metres of natural gas and churned out 125,000 tonnes of fertiliser in the two months.

To meet its revenue target, said Thang, PetroVietnam plans to pump 17.5 million tonnes of oil, 7.3 billion cubic metres of natural gas and produce 680,000 tonnes of fetiliser this year.