Petrovietnam to beat 2012 crude oil output by 2pc

HANOI: Vietnam is projected to produce 16.18 million tonnes, or 325,000 barrels per day of crude oil this year, beating an initial target by more than 2 percent, after putting new wells in operation, state oil and gas group Petrovietnam said on Monday.

Three wells off Vietnam's coasts, another project in Russia and a fifth well in Venezuela have started production in the January-September period, adding to annual output this year, the Hanoi-based group said in a statement.

Petrovietnam had earlier projected crude oil output this year at 15.81 million tonnes.