A gasoline rig off the coast of Vietnam. Picture courtesy of Petrovietnam Gasoline. Oil and gasoline group Petrovietnam (PVN) noticed pre-tax revenue within the first half this yr tripling year-on-year to VND21.3 trillion ($927.75 million) as oil costs rose.
Common crude oil costs within the interval doubled to $66.8 per barrel and almost 50 p.c larger than the corporate’s projection.
Some analysts have forecast crude oil costs would proceed to rise within the second half this yr, reaching as much as $100 a barrel.
Aside from oil costs, restoration of each home and international markets have helped enhance PVN revenues from gas and gasoline.
The corporate is recovering and can quickly return to its pre-pandemic degree, CEO Le Manh Hung mentioned.
The corporate has vaccinated around 10,000 employees to restrict disruption in its operation.