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Friday, July 19, 2024

Vietnam’s fuel imports surge in Jan

By N. Tan

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HCMC – Vietnam imported 1.03 million tons of fuels worth US$879 million last month, rocketing 70% in volume and 92.6% in value year-on-year, according to the General Department of Vietnam Customs.

The country also imported one million tons of crude oil worth US$621 million last month, up 43.8% year-on-year.

Dung Quat Oil Refinery in the central province of Quang Ngai turned out 590,000 tons of fuel for the local market last month.

There was a year-on-year surge in the nation’s January fuel imports from South Korea and Singapore.

Some 369,000 tons of fuels was imported from South Korea in January, up three-fold year-on-year, while Singapore shipped 243,000 tons to Vietnam, up 2.5-fold against the year-ago period.

In 2022, over 8.8 million tons of fuels worth US$8.9 billion were imported into Vietnam, up 27.7% in volume and 118.5% in value against 2021.

Of the total volume, 37%, or 3.2 million tons of fuels valued at US$3.3 billion, came from South Korea, making the country Vietnam’s largest fuel supplier last year.

Other major fuel exporters of the country in 2022 were Singapore, Malaysia and Thailand.

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