According to the preliminary study of the Customs General Administration (CGA), Mongolia exported 533,600 barrels of crude oil worth USD 21.6 million from January to May of 2020. Compared to the same period of the previous year, it decreased by 4.3 times in physical quantity and six times in sales revenue. Since May, Mongolia has been exported 45.500 barrels of crude oil. The Mineral Resources and Petroleum Authority (MRPAM) reported that there are no difficulties in exports to China through the Bayankhoshuu border and disinfection is being carried out. PetroChina Daqing Tamsag LLC is exporting through the Bayankhoshuu border as well. Mongolia has imported 169,000 tons of gasoline since the beginning of the year. This is a decrease of 14.4 percent compared to the previous year. Imports of diesel fuel dwindled by 24 percent to 272,800 tons. Additionally, the price of petroleum products imported by Mongolia is highly dependent on fluctuations in the price of Brent oil. Rosneft oil company is planning to deteriorate its border price of oil products said MRPAM.

Published Date:2020-05-14