Vietnam's Jan-Feb Crude Oil Export Value Up 46 per cent to US$1.68 Bln
Vietnam is forecast to obtain an on-year increase in crude oil export value of 46 per cent to US$1.68 billion in the first two months of this year, according to the government’s General Statistics Office (GSO).
"The high earning is mainly attributed to on-going high crude oil price in the world market," an anonymous Ministry of Industry and Trade official said.
Meanwhile, Asia’s third largest crude oil producer reports an on-year volume fall of 11.4 per cent to 2.33 million metric tons during the period.
Crude oil is now Vietnam’s largest forex earner, contributing over 19.28 per cent to national export revenues in January-February, said the GSO.
Currently, without major refineries, almost all crude oil is destined for export, while all refined oil products to feed national fuel needs are imported.
Vietnam is predicted to spend US$1.63 billion on importing 2.23 million metric tons of petroleum products in the first two months, up 71 per cent and 14.2 per cent on year. (GSO Feb 2008)
Vietnamese
