PetroVietnam Gas sees gross profit down 21pc in 2015

HANOI: PetroVietnam Gas, Vietnam's biggest listed firm, projected its gross profit this year will drop 21.2 percent from 2014 to 14.16 trillion dong ($670 million) on lower revenues. Revenues are projected to reach 69.54 trillion dong this year, down 5.4 percent from 2014, the Ho Chi Minh City-based company said in a statement on Wednesday. It cited crude oil price volatility and the firm's funding needs for several major projects as reasons for the forecasts.