Bloomberg reported that Vietnam Oil & Gas Group is targeting average earnings growth of 18% to 20% a year through 2015.

According to a statement on the government that cited a plan approved by Prime Minister Mr Nguyen Tan Dung, PetroVietnam is also targeting to produce 23 million to 24 million tonnes of crude oil annually during the period.

The Hanoi based company also aims to meet as much as 60% of domestic demand for petroleum products during the period with refining capacity of about 16 million to 17 million tonnes a year. The oil producer also expects to put three ethanol plants into stable operation to ensure output of ethanol products by 2012.

(Sourced from Bloomberg)