Vietnam Crude Oil Production Up 16.9 per cent to 4.4M Tons in Q1

Vietnam is estimated to have produced 4.4 million metric tons of crude oil in the first quarter of this year, up 16.9 per cent on year, the General Statistics Office (GSO) showed.

 

In March, the country’s crude oil production reached US$1.44 million metric tons, up 24.9 per cent on year, the office said.

 

In the quarter, Vietnam produced nearly 2 billion cubic meters of natural gas and 71,000 tons of liquefied petroleum gas (LPG), up 3.9 per cent on year and down 7.6 per cent, respectively, the GSO said.

 

Vietnam is the third largest crude oil producer in Asia, exporting 4.258 million metric tons of crude oil valued at US$1.426 billion in Jan-Mar this year, down 45.5 per cent on year in value but up 22.4 per cent in volume.

 

Vietnam’s US$3.1 billion first oil refinery of Dung Quat based in central Quang Ngai province was operational after 44 months of construction. The oil refinery needs 3.5 million tons of crude oil to refine into 2.6 million tons of petroleum products during this year. (GSO Mar 2009)