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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.

Vietnam National Oil and Gas Group (PetroVietnam) strives to develop the oil and gas industry into the country’s most important economic-technical sector by finding solutions and technologies for oil and gas exploration, exploitation, and processing.

After nearly a year of changing the operating model to a joint stock company, Binh Son Refinery Joint Stock Company (BSR) has shown the strong steps even in the most difficult times of the market to affirm as a leading company in backyard of PetroVietnam (PVN) with a good result “stable production and efficient business”.

At 7.00 on December 10, 2018, Petrovietnam (PVN) completed the 2018 crude oil exploitation plan with a production of 11.314 million tons.

Royal Dutch Shell PLC expressed its interest in becoming the liquefied natural gas (LNG) supplier for PetroVietnam’s projects, while simultaneously penetrating deeper into the Vietnamese petroleum distribution system via acquiring a stake in PetroVietnam Oil Corporation (PV Oil).

The Vietnam National Oil and Gas Group (PetroVietnam) has surpassed its key financial targets for this year, thanks to the rise in petrol prices in October.

According to the report on the results of thrift making and anti-waste in 2017 that PVN sent to the Ministry of Industry and Trade and Ministry of Finance, in 2017 PVN made savings of VND 3,837 billion.

The Vice Prime Minister Trinh Dinh Dung has required PetroVietnam (PVN) to concentrate all the forces for comprehencive restructuring the group from the parent company to the member units in a compact and efficient direction.

The Vietnamese government has issued the Decree No. 07/2018 NĐ-CP on adjusting the Charter of Petrovietnam (PVN). In this Decree, the government makes clear the operational objectives of PVN on exploiting, effectively using petroleum resources of the country, as well as the organizational, managerial and operational structures of the Member Council, Control Board, General and Deputy General Directors, Chief Countant, Internal control part and the Assisting Apparatus.

In 2017, Petrovietnam (PVN) completed exceedingly the most assigned tasks and targets, especially exceeded the plan by production of 1.29 million tons of crude oil and budget payment of 22.9 thousand billion VND that has significantly contributed to GDP growth rate of 6.81% and state budget balance in 2017.