| Vietnam to produce less crude oil this year |
HANOI, June 20 (Xinhua) -- Vietnam is expected to produce 16.8 million tons of crude oil this year, which will not meet its initial target of 17.5 million tons, Youth newspaper reported on Wednesday.
During the first six months, the State-owned Vietnam Oil and Gas Group (Petro Vietnam) exploited 7.68 million tons of crude oil, accounting for 46.5 percent of this year's target, Tran Ngoc Canh, general director of Petro Vietnam was quoted by the newspaper as saying.
The low output was due to some factors, including the progress of buying an oil field in Kazakhstan not as hoped, drilling in Malaysia being hit by bad weather.
Vietnam plans to pump out 17.5 million tons of crude oil and 7.3 billion cubic meters of gas this year, the Trade Information Center under the Trade Ministry said. Vietnam shipped abroad 16.6 million tons of crude oil valued at over 8.3 billion U.S. dollars last year, mainly to China, Singapore, Japan, Britain and the United States.
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