Vietnam exports 100 million tonne of crude oil
Ha Noi, April 11 (VNA) -- Viet Nam exported the 100 millionth tonne of crude oil on April 1, 2001.
The country pumped the 1st tonne of crude from its continental shelf in 1986 and began exporting crude oil in April 1987.
Viet Nam's export crude oil was only 5.08 million tonnes in the 1986-1990 period. The figure rose six folds to 30 million tonnes in the 1990-1995, and reached the peak of 60.5 million tonnes in the 1995-2000 period.
The export value of crude totalled USD 15.2 billion in the past 15 years. More than USD 12.3 billion were remitted to the host country and the remainder, to foreign partners.
Crude oil export has been an important hard currency earner of the country, especially in early '90s. Till now, crude oil is still one of the country's biggest export staples.
Viet Nam now pumps crude from six oil fields: Bach Ho (White Tiger), Rong (Dragon), Dai Hung (Great Bear), Rang Dong (Dawn), Ruby and Bung-Kekwa.
Deputy General Director Hoang Van Hoan of the Viet Nam Oil and Gas Corporation (PetroVietnam) said that the business strategy of his corporation aims to focus on expanding markets, multilateralizing customers and developing long-time cooperation with major and prestigiois customers on the basis of mutual understanding and benefit.
The corporation has established ties with almost all world leading oil and gas companies and groups.
Viet Nam has exported crude to Japan, the US, the Republic of Korea, China, Singapore, Indonesia, Thailand, Malaysia, and Australia. It has also developed relationship with petroleum producers in the Middle East including Iraq, Iran, Kuwait, Libya, and others.
On the prospect of Viet Nam's crude export, Hoan said PeroVietnam will further develop crude business as the first oil refinery will be operational in 2003.
Viet Nam plans to tap between 18-20 million tonnes of crude a year in the coming period.--VNA
