Vietnam National Petroleum Group reported consolidated earnings results for the first quarter of 2016. Total consolidated revenues (by all Petrolimex’s affiliates and associated firms in all trading businesses: petroleum, gas, lubricants, transportation, design, mechanics, installation, insurance, and others) totaled VND 27,540 billion (USD 1.23 billion), equal to 72.6% of the same period. The lower profit is reportedly attributed to a decrease of 30.8% of the global crude prices as compared to the first quarter of 2015 (West Texas Intermediate (WTI) averaged $33.63 per barrel in the first quarter of 2016, down from $48.57 per barrel in the same quarter of 2015). Pretax earnings were VND 1,371 billion, reaching 34.6% of the full-year’s target. Total net profit was VND 1,134 billion ($50.4 million).