As reported by Ministry of Industry and Trade, oil and gas exploration activities have been implemented actively as scheduled progress in May. PMI of crude oil and natural gas industry increased by 4,2% from April and up by 6,7% compared to May 2011. In the first five months, the index rose by 5.9% year on year.

In detail, crude oil output in May estimates to reach nearly 1.4 million tonnes, jump by 4.9% compared to previous month. Total crude oil output in the first five months may be at 6.8 million tonnes, surge by 11.5%. Natural gas in May estimates at nearly 0.9 billion cubic meters, up by 2.4% from last month. In the first five months, total ouput estimates at 4.1 billion cubic meters, an increase of 4.8% over the same time last year. However, liquefied petroleum gas (LPG) estimates at 38,400 tonnes, down by 37.0% from the previous month. Total output estimates at 292,900 tonnes in the first five months, up by 16.2% over the same period last year.

In May, Dung Quat oil refinery has stoppaged its operation for total maintenace and checksum before acceptance test of works in the late of June, so petroleum output may reduce by 44%. In the first five months this year, petroelum output estimates at 2,485,700 tonnes, up by 2.6% year on year.

The stoppage of Dung Quat oil refinery does not impact on domestic supply because of high inventory. To May 24th, petroleum inventory was at 106,990 tonnes.
 

Xangdau.net