Vietnam exports nearly 720,000 tonnes of crude oil in two months
Vietnam shipped 719,259 tonnes of crude oil abroad for 337.3 million USD in the first two months of 2019, up 7.1 percent in volume but down 7.9 percent in value compared to the same period last year.
Hanoi (VNA) – Vietnam shipped 719,259 tonnes of crude oil abroad for 337.3million USD in the first two months of 2019, up 7.1 percent in volume but down7.9 percent in value compared to the same period last year.
According to statistics of the GeneralDepartment of Customs, in February, the country earned more than 112 millionUSD from exporting more than 232,250 tonnes of crude oil, representing a dropof 50.4 percent in value and 52.3 percent in volume over the previous month.
The average export price of crude oil in February hit 482.6 USD per tonne, upby 4 percent.
In January-February, Chinawas the largest importer of Vietnam’s crude oil with a volume of 320,500 tonnesand a value of 150.6 million USD, up 86 percent and 55 percent, respectively.
Thailand came second with import value reaching 94.35 million USD, up by 19.3percent.
Vietnam’s crude oil exports to Malaysia posted the highest increase in the firsttwo months of this year, up 107.9 percent in volume to 93,462 tonnes and 75 percentin value to 42.21 million USD.
Vietnam also imported 1.46 million tonnes of crude oil in January-February,worth 635.4 million USD, 9.1 times higher in volume and 15.2 times higher invalue than the same period last year.-VNA
National Assembly (NA) Chairwoman Nguyen Thi Kim Ngan had a working session with the Vietnam National Oil and Gas Group (PetroVietnam) in Hanoi on January 17, promising to handle difficulties in terms of policies and laws facing this sector.
Petrol imports this year should be sharply reduced as the Nghi Son Refinery comes into operation and the output of Dung Quất Refinery meets most of the local demand, said Deputy Minister of Industry and Trade Do Thang Hai.
The Vietnam National Oil and Gas Group (PetroVietnam) has reported an estimated revenue of 111.8 trillion VND (over 4.8 billion USD) in the first two months of 2019, surpassing its target by 8 percent.
The Dung Quat Oil Refinery Plant, operated by the Binh Son Refining and Petrochemical Company (BSR), produced more than 1.1 million tonnes of products in the first two months of 2019 using 108 percent of its designed capacity.
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Illustrative image (Source: VNA)
