Oil exploitation drops, coal increases

SGGP
The Ministry of Industry and Trade on December 3 reported that production index of mining industry in the first 11 months of this year rose by 0.9 percent over the same period last year.
Oil and gas exploration has continued to be implemented in accordance with the plan. However, oil exploitation at key oil fields this year has been at the point of exhaustion with production declining heavily while newly-discovered oil wells are rather small and marginal with costly and complicated developing and operating conditions. It is estimated that crude oil production in November this year will reach 1 million tons, a decrease of 9.6 percent over the same period last year. In the first 11 months of this year, crude oil production is estimated at 12.1 million tons, down 5.8 percent over the same period last year. Natural gas exploitation output is estimated to reach 0.8 billion cubic meters in November, a decrease of 10.3 percent over the same period last year.

As for coal mining, in the last 11 months, both coal production and coal supply for households reached a high level in comparison with this year’s plan and exceeded those in the same period last year, ensuring supply for coal demand of the economy. Particularly, the production of clean coal is estimated at nearly 42.05 million tons, up 11.2 percent over the same period last year. In order to ensure coal supply for electricity generation and households in accordance with instruction of the Prime Minister, the Ministry of Industry and Trade promulgated the Decision No.3099/QD-BCT approving the adjustment of coal supply chart for electricity generation in 2019, instructed, urged coal producers to sign long-term contract with customers for coal enterprises to have grounds to invest in new mines, upgrade, expand and increase productivity of existing mines according to plan.

By Van Phuc – Translated by Thuy Doan

Other news