Vietnam Imports More Refined Oil in Jan-September
Vietnam is estimated to have imported 9.2 million metric tons of petroleum products valued at US$5.11 billion from January to September, up 8 per cent on-year in volume term and 9.4 per cent in value term, the General Statistics Office (GSO) said.
An official said said rising imports are attributed to the use of distillated fueled by the fast-growing national economy.
In September alone, the communist-ruled nation imported 900,000 tons worth US$548 million, down 4.4 per cent on-month and 11.31 per cent on-month, but up 13.92 per cent on-year and 21.77 per cent, respectively, it said.
Currently, Vietnam relies heavily on imported petroleum products as it lacks refining facilities. Its first refinery, Dung Quat, is under construction and slated for operation in early 2009.
Also according to the GSO, Vietnam is the third largest crude oil producer in Southeast Asia, exporting 11.21 million tons of crude oil valued at US$5.78 billion, down 10.4 per cent in volume and 11.3 per cent on year in value.
Vietnam is forecast to import 13.3 million metric tons of petroleum products to meet the domestic energy demand in 2007, up 20 per cent on year. (GSO Sep 2007)
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