Petroleum products worth $433m imported in 2 months

March 09, 2017 - 16:16

Việt Nam spent US$927 million on importing 1.66 million tonnes of petroleum products over the past two months, surging 2 per cent in volume against the same period last year.

Petrolimex staff on work. Việt Nam imported US$927 million worth of petroleum products over the past two months. -Photo petronews.vn

Viet Nam News

HÀ NỘI — Việt Nam spent US$927 million on importing 1.66 million tonnes of petroleum products over the past two months, surging 2 per cent in volume against the same period last year.

Up to 750,000 tonnes of petroleum products, worth US$433 million, were shipped to Việt Nam in February alone, according to statistics from the Ministry of Industry and Trade.

During the two-month period, petroleum shipments from Singapore to Việt Nam hit more than 610,000 tonnes, valued at $304.7 million, making Singapore Việt Nam’s leading supplier for petroleum products.

South Korea came second with 428,300 tonnes, worth more than $263 million, followed by Malaysia with above 300,000 tonnes, or equivalent to $138 million, and Thailand with 180,000 tonnes, valued at $73 million.

In two months, Việt Nam also imported petroleum from China and Russia, amounting to 123,000 tonnes, worth $66.2 million, and 5,300 tonnes, worth $3.24 million, respectively.

Earlier this week, local petroleum retailers lowered the price of petroleum by VNĐ76 per litre and E5 bio-fuel by VNĐ58 per litre to VNĐ18,022 (80 US cents) and VNĐ17,760 per litre.

This marks the first time this year that the ministries of Industry and Trade and Finance reduced the price of petroleum. — VNS

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