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Việt Nam spends $5 billion on fuel imports in 7 months
Domestic enterprises imported a total of 6.26 million tonnes of petroleum products to ensure supply in the domestic market in the last seven months, according to data compiled by the Ministry of Industry and Trade (MoIT).
Workers checking equipment at Nghi Sơn Refinery and Petrochemical's system. The refinery is halting production for maintenance. — Photo nsrp.vn
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The import volume increased 15 per cent year-on-year while the import value declined 13.5 per cent to US$4.95 billion.
In July alone, the imported petroleum products reached a record at 1.05 million tonnes, up 61 per cent over last year, and the import value rose 7.8 per cent to $790 million.
The gain was to ensure domestic supply amid the suspension for maintenance at Nghi Sơn Refinery and Petrochemical.
Since the beginning of July, Nghi Sơn Refinery and Petrochemical has also announced to close for 55 days of maintenance from August 25, after nearly five years of operation.
This plant is meeting about 35-40 per cent of the country's petroleum demand.
In April and June this year, the MoIT held two meetings with petroleum producers and trading companies to discuss solutions guaranteeing petroleum supply for the domestic market in the near future.
At the events, a semi-annual preliminary review of the implementation of the minimum total petroleum this year of petrol and oil traders was conducted.
Meanwhile, total petroleum export was estimated at 120,000 tonnes in July, worth $90 million, up 80.2 per cent and 52 per cent over the same period last year.
For the last seven months, Việt Nam exported 1.26 million tonnes of petroleum, worth $1.02 billion.
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