Vietnam Jan-April Crude Oil Exports Plunge 47.2% to 2.888M Tons
Vietnam is estimated to have exported 2.888 million metric tons of crude oil worth US$1.785 billion in the first four months this year, down 47.2% from a year earlier in volume and 9.2% in value, the General Statistics Office (GSO) said.
The Southeast Asian country is estimated to have shipped abroad 650,000 metric tons of crude oil valued at US$440 million in April, down 26.64% on-month in volume and 19.85% in value, the GSO said.
Crude oil is now Vietnam’s second largest forex earner, representing 8.86% of the country’s export revenues between January and April.
The country’s crude oil exports are projected to decrease by 28.2% to 9.43 million metric ton this year to feed its first oil refinery Dung Quat.
The refinery in the central province of Quang Ngai has been running at full capacity since February 16. It has to date produced 2.9 million tons of high-quality products.
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 April 2010)
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