Thursday, December 14, 2006

Oil and Gas: Vietnam's crude oil export earnings set to rise 14.6 per cent in 2006

Vietnam is estimated to record crude oil export turnovers of nearly $8.5 billion this year, a 14.6 percent increase against last year, according to a local trade agency.

The average export price of Vietnamese crude oil in 2006 is estimated at $498.6 dollars per ton or some 65 dollars per barrel, the Import-Export Department under the Trade Ministry said, adding that Vietnam is likely to export about 17.5 million tons of crude oil in 2007 with average price of 62 dollars per barrel.

According to the General Statistics Office, Vietnam shipped abroad, mainly to China, Singapore, Japan, Britain and the United States, 15.2 million tons of crude oil totalling over 7.7 billion dollars in the first 11 months of this year, down 7.7 percent in volume but up 14.5 percent in value.