Sunday , February 5 2023

PVOil back in the black after Q3 loss

PVOil had reported a loss of over VND373 billion ($15.5 million) in the third quarter and the biggest-ever profits of VND620 billion in the second quarter amid wild swings in global oil prices.

State-owned Petrovietnam Oil Corp (PVOil) revenues for the full-year are expected to top VND100 trillion, double the target, and profits are likely to be VND763 billion.

PVOil’s sales volumes are up 27% this year.

According to the Ministry of Industry and Trade, several key fuel distributors such as Petrolimex, PVOil and Thalexim are maintaining inventories at safe levels to meet demand.

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