Vietnam spends US$4.365B on petroleum imports in Jan-Aug

Vietnam is estimated to have spent US$4.365 billion on importing 7.023 million metric tons of petroleum products in the first eight months of this year, the government’s General Statistics Office (GSO) said.

The figures indicated a rise of 8.2% from a year earlier in value despite a fall of 20.2% in volume, the GSO attributed.

Of the sum, the Southeast Asian nation imported 850,000 metric tons of the products valued at US$532 million in August, the office noted, giving no comparative figures.

The country has reduced the imports since its first oil refinery Dung Quat is running at full capacity. The plant has refined five million tons of crude oil into over 4.6 million tons of products and provided over 4.4 million tons of the products to the market since its first operation in February 2009.

The US$3.054-billion plant, located in the central province of Quang Ngai, 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)

Tags: Vietnam petroleum imports

Posted by VBN on Sep 4 2010. Filed under 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