Vietnam Petroleum Imports Up 33.2% to US$1.606B in Q1
Vietnam is estimated to have spent US$1.606 billion on importing 2.673 million metric tons of petroleum products in the first quarter of this year, up 33.2% from a year earlier in value and down 14.4% in volume, said the General Statistics Office (GSO).
The country imported one million metric tons of the products worth US$610 million in Mar., representing increases of 5.6% and 9.31% from a month earlier, respectively, the GSO said.
The slight increase in the national petroleum imports is attributed to the government’s policy to boost petroleum reserves and the unstable operation of the country’s first oil refinery Dung Quat due to some existing technical errors, analysts said.
The refinery in the central province of Quang Ngai has refined 2.55 million tons of crude oil into 2.05 million tons of high-quality products, including over 1.7 million tons sold to the domestic market.
The US$3.054-billion plant is expected to refine 5.2 million tons of crude oil into 4.75 million tons of products this year to meet 30% of the country’s oil products demand. (GSO)
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