About 4000 barrels of crude oil is drilled in Mongolia everyday
While Budget Plan of year is under discussion in the upcoming days, MPs discussed about the refinery that will allow us to develop oil processing industry in our homeland. Proposal of MP D.Khayanhirvaa in building a refinery in Darkhan-Uul aimag was supported by the majority of MPs. If this refinery be built, crude oil that is expected to import from Kuwait and Kazakhstan can be processed in Mongolia rather than in China.
Additionally, crude oil which is drilled in Mongolia can be processed domestically. Today, there are 5 companies dealing with crude oil production business and they are operating on 7 different oil fields in Mongolia. Two of them produce crude oil and export to Chinese refineries. 4000 barrels of crude oil is produced in Mongolia every day. This year, Mongolia produced 1258 thousand barrels of crude oil which makes 34.5billion MNT revenue for the Government. Production projection for the next year is 1770 thousand barrels which will generate 54.6billion MNT revenue for the Government.
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One Response to “About 4000 barrels of crude oil is drilled in Mongolia everyday”
By Roy Dongen on Nov 15, 2008 | Reply
A wise decision by the parliament! An independent Mongolia should not rely heavenly on just one or two sources for its energy. Specially after the “blackmail” by Russia to give discounts if Mongolia would change its national laws (and so allowing the Russian suppliers to become retailers as well, thus creating a monopoly by a foreign entity) it is of utmost importance Mongolia differentiates its suppliers and becomes as independent as possible.