Vietnam Sets ‘05 Petroleum Pdt Imports At 12.4M MT -Exec

HANOI (Dow Jones)–Vietnam expects to import 12.4 million metric tons of petroleum products in 2005, up 14% on year, a government executive said Monday.

Vietnam Sets ‘05 Petroleum Pdt Imports At 12.4M MT -Exec

DJ Vietnam Sets ‘05 Petroleum Pdt Imports At 12.4M MT -Exec

HANOI (Dow Jones)–Vietnam expects to import 12.4 million metric tons of petroleum products in 2005, up 14% on year, a government executive said Monday.

“We have issued these figures based on the actual trading capacities of the

(oil) companies last year,” said the Trade Ministry official.

Of the total figure, 6.4 million tons will comprise diesel fuel, while

automotive fuel will account for 3.75 million tons, fuel oil 1.7 million tons,

kerosene 350,000 tons and jet fuel 200,000 tons, the executive said.

Comparative figures for each category weren’t available.

“(Our) petroleum imports are increasing to meet domestic demand because the

country’s lawmakers are expectingthe economy to grow about 8.5% this year,

higher than 7.7% last year.”

Last year, Vietnam imported 10.875 million tons of petroleum products valued

at $3.57 billion, up 9.2% on year in volume and 46.8% in value, government

figures showed.

Vietnam has no oil refining facilities and imports all its oil products.

-By Nguyen Pham Muoi, Hanoi Bureau; Dow Jones Newswires; 844-825-0732;

phammuoi.nguyen@dowjones.com

-Edited by George Bernard

(END) Dow Jones Newswires

01-09-05 2328ET

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