Vietnam’s Q2 crude oil output to fall to 4.26 million tons
HANOI – Vietnam’s crude oil output in the second quarter ending June is projected to fall 7.6 per cent from the first three months of 2015 to 4.26 million tonnes, state oil and gas group Petrovietnam said on Thursday.
It also expects to refine 1.38 million tonnes of oil products in the April-June period, down 17.4 per cent from its first-quarter output, the Hanoi-based group said in a statement.
The group gave no reason for the declines, but said it will re-examine all aspects affecting its 2015 oil and gas production to ensure the government-approved annual targets of 16.8 million tonnes of crude oil and 9.8 billion cubic metres of natural gas are attainable.
Petrovietnam’s data for crude oil output in the January-March period at 4.61 million tonnes is above the government’s initial estimate of 4.17 million tonnes released in late March.