Vietnammmms Refined Oil Imports Up 70.2 per cent to US$3.75 Bln in Jan-April
Vietnam is forecast to have spent US$3.75 billion importing 4.68 million metric tons of petroleum products in the first four months of this year, up 70.2 per cent on year in value and 8 per cent in volume, said the General Statistics Office (GSO).
In April, the Southeast Asian country is estimated to have imported 1.1 million metric tons of the product worth US$920 million, down 10.56 per cent on year in volume and down 43.75 per cent in value, the office said.
Vietnam heavily relies on imported petroleum products as it has no oil refineries. Its first Dung Quat refinery is under construction and is slated for operation in early 2009.
GSO said that Vietnam is the third largest crude oil producer in Asia, exporting 4.58 million tons of crude oil valued at US$3.49 billion in the first four months of this year, down 9.6 per cent on year in volume and up 46.2 per cent in value.
Vietnam is forecast to consume nearly 70 million tons of oil equivalents by 2015. (GSO April 2008)
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