VIETNAM DATA: June oil product imports rise 17% on year to 617,834 mt
14th July 2022 09:29 GMT

Vietnam's oil product imports rose 16.7% year on year to 617,834 mt in June, latest Vietnam Customs data showed.

However on a month-on-month basis, imports contracted for the third straight month, falling 19.4% from May. Vietnam last recorded a month-on-month rise in oil product imports in March, when inflows surged 75% from February.

Imports of gasoline and jet fuel increased on the year in June, and for diesel and fuel oil fell 2.75% and 72.04%, respectively, the data showed.

South Korea and Thailand were the two major suppliers of oil products in the month.

Over the first half of the year, Vietnam imported 4.8 million mt of oil products, up 17.6% year on year, mainly from South Korea, Malaysia, Singapore and Thailand.

Imports of diesel, gasoline and jet fuel rose in H1, while inflows of fuel oil fell.

Exports fall

Meanwhile, Vietnam's oil product exports fell 49.9% year on year to 144,502 mt in June, with Cambodia remaining the largest buyer, the customs data showed.

Vietnam shipped 1.07 million mt of oil products over January-June, down 7.2% year on year, mainly to Cambodia, Singapore and South Korea.

For LPG, Vietnam's imports fell 8.5% year on year to 94,412 mt in June, mostly from China, and edged down 0.8% on the year to 798,587 mt in H1, the data showed.

Vietnam has four major domestic LPG producers; the 130,000 b/d Dung Quat refinery, Dinh Co gas processing plant in the southern province of Ba Ria-Vung Tau, Ca Mau gas processing plant in the southern province of Ca Mau, and the 200,000 b/d Nghi Son refinery.

Vietnam's LPG market is dominated by state-controlled PV Gas, which currently holds around 70% of the market share.

 

Vietnam's oil product imports by country:

(Unit: mt)

 

 

Jun 22Jun 21Change (Y/Y)May 22Change (M/M)
South Korea205,680111,80683.96%356,054-42.23%
Thailand161,338127,81226.23%111,08945.23%
Malaysia79,929155,267-48.52%40,07999.43%
China77,283--75,0552.97%
Singapore69,692128,344-45.70%116,598-40.23%
Total617,834529,54716.67%766,671

-19.41%

 

 

 

 

Jan-Jun 22Jan-Jun 21Change (Y/Y)
South Korea1,946,146951,574104.52%
Malaysia780,7621,440,254-45.79%
Singapore636,487756,155-15.83%
Thailand579,866589,644-1.66%
China391,163203,38092.33%
Japan90,47322240653.60%
Russia14,501--
Total4,805,7134,085,15717.64%

 

 

Vietnam's imports by product:

 

 

Jun 22Jun 21Change (Y/Y)May 22Change (M/M)
Gasoline50,05515,131230.81%113,258-55.80%
Diesel388,991399,994-2.75%456,763-14.84%
Fuel oil18,30565,475-72.04%49,762-63.21%
Jet fuel144,17448,947194.55%147,365-2.17%

 

 

 

 

Product nameJan-Jun 22Jan-Jun 21Change (Y/Y)
Gasoline880,956610,50644.30%
Diesel2,861,6282,642,2608.30%
Fuel oil334,240389,578-14.20%
Jet fuel703,066400,29475.64%

 

 

Vietnam's oil product exports by country:

 

 

Jun 22Jun 21Change (Y/Y)May 22Change (M/M)
Cambodia53,73345,90717.05%54,653-1.68%
China11,86014,911-20.46%6,28288.79%
Laos8,5382,427251.79%5,54354.03%
Malaysia7,35497,529-92.46%7,735-4.93%
South Korea4,0404,650-13.12%8,109-50.18%
Total144,502288,213-49.86%182,127-20.66%

 

 

 

 

Jan-Jun 22Jan-Jun 21Change (Y/Y)
Cambodia389,204367,1836.00%
Singapore66,693164,271-59.40%
South Korea57,84813,381332.31%
China44,05948,329-8.84%
Malaysia33,034139,700-76.35%
Laos28,45815,18587.41%
Total1,067,5391,150,114-7.18%

 

 

Vietnam's LPG imports by countries:

 

 

Jun 22Jun 21Change (Y/Y)May 22Change (M/M)
China24,45629,819-17.99%26,078-6.22%
Indonesia6,4785,43619.17%1,600304.88%
Thailand3,1063,436-9.60%1,500107.07%
Malaysia1,7229,186-81.25%--
Total94,412103,223-8.54%133,157-29.10%

 

 

 

 

Jan-Jun 22Jan-Jun 21Change (Y/Y)
China153,800191,679-19.76%
Saudi Arabia123,18569,91076.21%
Qatar92,641--
Kuwait46,25846,0090.54%
Malaysia38,78137,3023.96%
Indonesia24,50124,767-1.07%
Thailand20,92515,27836.96%
South Korea1,2061,360-11.32%
Total798,587805,328-0.84%

 

 

*Total includes other sources

Source: Vietnam Customs


Bunkerworld .,
14th July 2022 09:29 GMT