Vietnam imported 910,633 metric tonnes (mt) of crude oil in January, a MoM increase of 31.2%, while exports grew 39% MoM to 486,712 mt. The country is also the world's largest importer of liquefied natural gas (LNG), accounting for more than half of all imports from Asia. Increased exports, valued at $226m, came partially from Russia-Vietnam joint venture VietsovPetro, which produced its first oil from the southern Vietnamese Ca Tam offshore oilfield. For 2018, the country exported 3.96 million mt, a 41.9% YoY decrease, with the majority of supplies going to China, Thailand and Australia.
Vietnam imported 910,633 metric tonnes (mt) of crude oil in January, a MoM increase of 31.2%, while exports grew 39% MoM to 486,712 mt. The increase, which reached a total value of $390m, was partly attributed to the Nghi Son refinery, which began operations in late 2018 and ships crude from Kuwait. Increased exports, valued at $226m, came partially from Russia-Vietnam joint venture VietsovPetro, which produced its first oil from the southern Vietnamese Ca Tam offshore oilfield. For 2018, the country exported 3.96 million mt, a 41.9% YoY decrease, with the majority of supplies going to China, Thailand and Australia.