According to the latest statistics of General Department of Customs, in the first half of July (July 1-15), Vietnam exported 50,523 tonnes of petroleum of all kinds, with a turnover of 41.4 million USD. In general, from the beginning of this year to July 15, volume of exported petroleum reached 1.3 million tonnes, with a turnover of 1.08 billion USD, up 8.3% and 7.3% respectively over the same period in 2023.
On other hand, from the beginning of this year to July 15, Vietnam imported more than 5.8 million tonnes of petroleum of all kinds, with a total turnover of 4.7 billion USD, up 3% in volume and 4.4% in turnover over the same period in 2023.
In terms of market, Cambodia was the largest customer of Vietnamese petroleum in the first 6 months of this year with more than 222,000 tonnes, worth more than 183 million USD, down 29% in volume and down 31.1% in value over the same period last year.
The second largest market is Korean market with more than 132,000 tonnes of gasoline and oil, equivalent to more than 120 million USD, up 39% in volume and 33% in value.
China is the third largest customer of Vietnamese gasoline and oil, accounting for more than 10% of Vietnam's total export output. In the first 6 months of this year, Vietnam exported more than 116,000 tonnes to its neighbor, with a turnover of more than 108 million USD, up 36% in volume and 35% in value compared to the first 6 months of 2023.
Notably, Thailand is becoming the market with the strongest increase in Vietnam's gasoline and oil imports in the first half of the year. Specifically, this market imported 6,741 tonnes of gasoline and oil from Vietnam in the first half of 2024, compared to only 402 tonnes in the same period last year, a figure corresponding to an increase of 1,576% (nearly 16 times) over the same period last year. Export value reached more than 6 million USD, an increase of 1,379% (nearly 14 times) over the same period last year.
Although it is a market that witnessed the strongest growth, Thailand only accounts for a very small proportion, less than 1% of total export output to Vietnam's markets.
Vietnam currently has two oil refineries, Dung Quat and Nghi Son, supplying 10 - 13 million m3/tonne of gasoline and finished oil products of all kinds each year. These two factories currently supply about 70% of domestic gasoline and oil consumption demand, of which Nghi Son's supply proportion is about 35%, at times up to 40%.
According to data from Ministry of Industry and Trade, in 2024, total minimum source of gasoline and oil assigned by the Ministry to main gasoline and oil traders (36 traders) is 28,437,856 m3/tonne of gasoline and oil of all kinds.
According to reports from the 2 factories and General Department of Customs, total source of gasoline and oil production and import in the first 6 months of 2024 reached 12.41 million tonnes, equivalent to about 15.2 million m3/tonne of gasoline and oil of all kinds. Of which, imports accounted for 44.5%, domestic production accounted for 55.5%.

Source: Vitic/ congthuong.vn