Vietnam's Jan-Jun Refined Oil Imports Tumble 54.42 per cent at US$2.95B

Vietnam is estimated to have spent US$2.95 billion to import 6.874 million metric tons of petroleum products in the first six months of this year, down 54.42 per cent on-year in terms of volume and down 3.6 per cent on-year in terms of value, the General Statistic Office (GSO) said.

 

In June, Vietnam is forecast to have imported 1.2 million metric tons of the products worth US$620 million, down 6.47 per cent on month in volume and up 15.45 per cent in value.

 

The country is predicted to have imported 397,000 metric tons of liquefied petroleum gas (LPG) valued at $191 million between January and June, and have spent $235 million on importing other oil products, it added.

 

The sharp drop in petroleum products is because Vietnam has operated its first oil refinery Dung Quat, which is estimated to have produced 67,640 tons of petroleum products in the first six months of this year

 

The $3.1-billion refinery is also expected to refine 3.5 million tons of crude oil into 2.6 million tons of products during this year. (GSO June 2009)