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Staff of Petrovietnam Fuel on the Dragon Fuel Compression Platform. Photograph courtesy of the corporate
Petrovietnam Fuel (GAS) posted VND6.9 trillion ($296.79) in post-tax income within the first six months, or 98 % of its yearly plan, because of rising oil costs.
Revenues have been VND54.56 trillion, equal to over two-thirds of its marketing strategy. The income and revenues have been 59 and 34 % greater than final yr, respectively.
GAS administration attributed development to rising oil and LPG costs, and market improvement and cost-reduction plans.
Viet Capital Securities forecast the Brent crude oil value to rise by 20 % this yr to the best of $85 a barrel. Costs would additionally rise on the Group of the Petroleum Exporting Nations’ (OPEC) manufacturing reduce and decrease provide from the U.S.
VnDirect Securities anticipated GAS’ dry gasoline manufacturing to rally on rising demand within the second half of this yr.
GAS produced over a million tons of liquefied petroleum gasoline (LPG), accounting for 70 % of home share. In the meantime, gasoline condensate manufacturing rose by 85 % year-on-year.
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