Vietnam Crude Oil Exports Drops 44.8% to 4.966M Tons in Jan-July

Vietnam is estimated to have exported 4.966 million metric tons of crude oil valued at $3.004 billion in the first seven months of this year, down 44.8% from a year earlier in volume and down 18.9% in value, the government’s General Statistics Office (GSO) said.

The Southeast Asian nation fetched $325 million from exporting 560,000 metric tons of crude oil in July, down 34.74% and 34.73% on month, respectively, the office attributed.

Crude oil is now Vietnam’s second largest forex earner after apparel, representing 7.85% of the country’s export revenues in the Jan-Jul, the GSO said.

The national crude oil export volume is projected to drop 28.2% on year to 9.43 million metric tons this year to feed its first oil refinery Dung Quat.

The plant, located in the central province of Quang Ngai, is running at full capacity and had produced 3.61 million tons of products.

Tags: Vietnam Crude Oil Exports

Posted by VBN on Jul 30 2010. Filed under Import-Export, Import-Export turnover, Oil-Gas & Petroleum. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry