Illustrative photo. (Source: VNA)

The group’s revenue in the period was estimated at 292.6 trillion VND (12.74 billion USD), up 62 percent on-year and exceeding the goal by 62 percent.

It contributed some 41.8 trillion VND to the State budget, surpassing its target by 73 percent, and increasing by 48 percent from the same period last year.

Foreseeing upcoming challenges from world economic instabilities, domestic and foreign markets, and geopolitical issues, President and CEO of PetroVietnam Le Manh Hung said the group will continue updating, evaluating and forecasting the macro-economic situation to adjust its management plan, particularly regarding supply-demand, price instability, and inflationary waves.

PetroVietnam will keep its targets of growth, production output, and oil extraction, while capitalising on processed products to take advantage of market opportunities, he said.