BUSINESS Mongolia exports 1.85 mln barrels of crude oil in Q1

BUSINESS

Mongolia exports 1.85 mln barrels of crude oil in Q1

Xinhua

23:30, April 17, 2018

ULAN BATOR, April 17 (Xinhua) -- Mongolia exported 1.85 million barrels or 251,000 tons of crude oil in the first quarter of this year, the country's Ministry of Mining and Heavy Industry said Tuesday.

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(Workers are seen at the construction site of a crude oil terminal in Zhoushan, Zhejiang province, China March 18, 2018. Photo: Reuters)

Mongolia is planning to extract 8.1 million barrels or 1.1 million tons of crude oil this year, which would contribute 223.4 billion Mongolian Tugrik ($93.31 million) to the state budget.

At present, the country has implemented 14.1 percent of its export plan, the ministry said in a statement.

Currently, Mongolia exports crude oil to China and imports petroleum products from Russia. 

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