Econ
PetroVietnam: Exporting crude oil of 2 billion USD in 8 months
In 8 months, PetroVietnam (PVN) has sold around 8.81 million tons of crude oil with revenue of approx. 3.6 billion USD, in which the amount exported is nearly 5 million tons, reaching 2 billion USD.
In 8 months, PVN has extracted 10.49 million tons, in which the amount extracted locally is 9.19 million tons, and extracted abroad is 1.30 million tons. The total amount of crude oil sold by PVN is 8.81 million tons (with revenue of 3.6 billion USD), in which the amount exported is nearly 5 million tons, reaching 2 billion USD. The amount sold locally is 3.8 million tons (reached 1.59 billion USD). The average export price of Vietnam’s crude oil for 8 months in 2017 is 402.41 USD per ton.
In China’s market, in 8 months, customers bought crude oil directly from Vietnam with the amount of 1.78 million tons (contributing to 20% of total crude oil produced in Vietnam and 35% of Vietnam’s crude oil export) for the value of 733 million USD. Vietnam’s crude oil bought by Chinese customers comes from the following oil fields: Black Lion, Rang Dong, Ruby, Thang Long, Chim Sao.
The average export price for Chinese customers buying directly is 412 USD/ton, higher than the average export price of Vietnam by 9.59 USD per ton. In overall, the price of Vietnam’s crude oil sold to Chinese market (Chinese customers buy directly or indirectly through international sellers) is 405.31 USD per ton, higher than the average export price of Vietnam’s crude oil of 2.9 USD per ton.
