Oil production in Vietnam 2009-2019

In 2019, oil production in Vietnam amounted to approximately 236 thousand barrels a day. In that year, oil consumption in the country was 528 thousand barrels a day. Industrialization, market reforms, export market expansion and rapid economic growth has increased domestic energy consumption in the past years.

Crude oil sector in Vietnam

Most of Vietnam's crude oil and natural gas reserves lie offshore, primarily in the Cuu Long and the Nam Con Son basins. In 2019, Vietnam’s oil reserves stood at 4.4 billion barrels. Leading exporting markets for fossil fuels are China, Australia and Singapore. In 2019, Vietnam ranked 34th worldwide in terms of oil production.

Vietnam Oil and Gas Group (PetroVietnam)

PetroVietnam (PVN) was established in 1975 with its headquarters in Hanoi. The company is a state-owned corporation which is engaged in the exploration, production, processing and marketing of oil and gas. PVN owns and operates two refinery plants, two fertilizer plants, two biofuel plants and one fiber plant. Furthermore, PVN is the second largest power producer in Vietnam.

Oil production in Vietnam from 2009 to 2019

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Source

Release date

June 2020

Region

Vietnam

Survey time period

2009 to 2019

Supplementary notes

* Oil production (according to the source) "includes crude oil, tight oil, oil sand and NGLs (liquid content of natural gas where this is recovered separately). Excludes liquid fuels from other sources such as biomass and derivatives of coal and natural gas."

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