Vietnam Jan-May Crude Oil Output Falls 17.9% to 5.97MT

Vietnam produced 5.967 million tons of crude oil in the first five months of this year, down 17.9% from a year earlier, according to the General Statistics Office (GSO).

The country’s crude oil output rose 5.17% on month but fell 14.7% on year to 1.22 million tons in May, the office said.

The GSO estimates the Southeast Asian nation reaped US$2.108 billion from exporting 3.423 million metric tons of crude oil in the Jan-May period, down 17.4% and 49.8% on year, respectively.

This year, the state-owned Vietnam Oil and Gas Group (PetroVietnam) targets to produce 15 million tons of crude oil and eight billion cubic meters of natural gas, and export 9.43 million tons of crude oil.

Last year, PetroVietnam produced 16.3 million tons of crude oil and exported 16.29 million tons. – GSO

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Posted by VBN on Jun 5 2010. Filed under 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

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