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 Nghi Son 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.