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The Ministry of Finance recently reported that although revenues from domestic, import and export activities have fallen short of estimated levels, budget revenue from crude oil in the first eight months recorded positive results. At VND25.7 trillion it equaled 111 percent of the estimate, and up 0.9 percent over the same period last year.

The government’s goal to extract an additional 1 million tonnes of crude oil by the year’s end to meet its economic growth target is very challenging, according to Chairman of the Vietnam Oil and Gas Association (VOGA) Ngo Thuong San.

Ministry of Finance is drafting a Decree on protection environmental fees for exploitation of crude oil, natural & coal gases and minerals.