Vietnam News Service reported that President Mr Nguyen Minh Triet was full of praise for PetroVietnam's achievements gained in 2010, with the company earning total revenue of VND 478.4 trillion, accounting for 24% of the country's GDP.
Speaking at a launch of PetroVietnam's 2011 plan in the capital city, Mr Triet spoke highly of its considerable contributions to the national economy and the commissioning of the Dung Quat Oil Refinery in 2010.
He also took the occasion to express Viet Nam's special thanks to the Russian experts who worked side by side with Vietnamese experts and workers. He added that "The oil and gas industry has been and will always be a pivotal industry in Viet Nam's economy."
He asked PetroVietnam to continue enhancing its strength in order to retain its role as a driving force of the economy. He also urged its leaders and workers to expand co operation with Russia and other oil and gas powers in the near future.
On behalf of the Party and Government, Mr Triet presented the Friendship Order and Labour Order to seven units and individuals who had excelled in business and production.
Mr Vu Huy Hoang minister of industry and trade presented PetroVietnam and 12 units with Emulation Flags acknowledging their outstanding achievements in the patriotic role model movement in 2010.
Mr Hoang also presented Certificates of Merit to more than 40 innovations that had helped save more than USD 271 million for PetroVietnam.
The corporation has set five targets for 2011, including increasing oil reserves to 30 to 35 million tonnes; extracting 15 million tonnes of crude oil and 8.2 billion cubic meters of gas; producing 12.3 billion kWh of electricity, 740,000 tonnes of fertilizer and 5.6 million tonnes of petrol and diesel of different types; increasing the oil and gas servicing by 20% and achieving total revenue of VND 486 trillion.
Mr Bui Van Ga deputy minister of education and training also announced the beginning of work on the PetroVietnam University, situated in Vinh Yen City, Vinh Phuc Province, some 60 kilometers northwest of Ha Noi.
(Sourced from Vietnam News Service)
