Vietnam’s May crude oil imports jump 63% on year to 213,191 b/d
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Vietnam’s crude imports surged 62.9% year on year to 901,628 mt (213,191 b/d) in May, preliminary data released Tuesday by Vietnam Customs showed.
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Of the total, 817,316 mt was imported from Kuwait, up 47.7% on year, and 84,312 mt from Brunei, compared with none a year earlier.
Over January-May, Vietnam imported 3.83 million mt of crude oil, up more than four times from 907,875 mt in the same period of 2018. Kuwait supplied 3.58 million mt of the total, up more than four times from 822,160 mt in the same period a year earlier, and Brunei 252,826 mt, compared with none a year earlier.
The year-on-year surge in imports comes after the 200,000 b/d Nghi Son refinery in central Vietnam began commercial operations on November 14 last year. Crude oil for Nghi Son is shipped from Kuwait.
State-owned PetroVietnam has a 25.1% stake in Nghi Son alongside Kuwait Petroleum International with 35.1%, Japan’s Idemitsu Kosan 35.1% and Japan’s Mitsui Chemicals with 4.7%.
Meanwhile, Vietnam exported 344,703 mt of crude oil in May, edging up 0.7% year on year, mostly to China, Singapore and Japan, the customs data showed.
Over January-May, it exported 1.71 million mt, up 9.2% year on year, mostly to China, Thailand and Japan.
The country is estimated to have produced 4.79 million mt of crude oil over January-May, down 8% on year, the General Statistics Office said May 29.
Part of Vietnam’s crude production is sent to the 130,000 b/d refinery at Dung Quat and the rest exported.
— Newsdesk-Vietnam, email@example.com
— Edited by Wendy Wells, firstname.lastname@example.org