Hanoi (VNA) – The Vietnam Oiland Gas Group (PetroVietnam) surpassed many targets, including revenue and State budget contribution in the first month of 2020.

Its total revenue reached 66.3 trillion VND(2.85 billion USD), up 16.2 percent from the month’s plan, while contributionto the State budget hit 8.3 trillion VND, exceeding 17 percent of the goal setfor the month.

Meanwhile, PetroVietnam’s oil and gasexploitation increased 8.5 percent against the monthly plan. It produced 147,300tonnes of fertiliser and more than 1.2 million tonnes of fuel, surpassingtargets by 2.5 percent and 5.3 percent, respectively.

Despite the week-long Lunar New Yearholiday during January, all activities of PetroVietnam were maintained asusual.

Also in January, the group’s affiliate - theVietnam Petrochemical and Fiber Joint Stock Company (VNPOLY) - produced fivetonnes of drawn textured yarn (DTY) to make medical face mask amid the acuterespiratory disease caused by the new strain of coronavirus (nCoV).

The group is projected to face difficultiesin the domestic and international markets next month due to uncertainties inthe crude oil market and decreasing travel and transport demand due to nCoV.

In 2020, PetroVietnam will strive to tap20.36 million tonnes of oil equivalent and produce 21.6 billion kWh ofelectricity, over 1.56 million tonnes of fertilisers and more than 11.8 milliontonnes of fuel.

Its 2020 turnover is projected at over 640trillion VND and revenue to the State budget at more than 82 trillion VND./.