Vietnam's Jan-May crude oil exports drop 20.6% y/y: govt

[HANOI] Vietnam's crude oil exports during January-May fell 20.6 per cent from the same period last year to an estimated 3.06 million tonnes, or 148,000 barrels per day (bpd), the government said on Friday.

Crude oil export revenues in the five-month period plunged 49.2 per cent from a year ago to $883 million, the government's General Statistics Office said in its monthly report.

Oil product imports rose 27.6 per cent in the same period to an estimated 5.4 million tonnes, while the value dropped 21.2 per cent to US$1.9 billion, the office said.

Vietnam's liquefied petroleum gas imports during the five-month period advanced 3 per cent from a year ago to 473,000 tonnes, it said.

Vietnam, Asia's third-largest holder of crude oil reserves after China and India, produces an average 350,000 bpd of crude oil, or around 40 per cent of that by Indonesia, the sole Opec member in Southeast Asia.

REUTERS