Mongolia now providing its own petroleum products

The  Government  for  Changes holds a policy to increase sources of supply  of  oil  products.  Therefore,
it  instructed  the  Mining  Ministry  to implement  actions  to  increase  the sources.  Mongolia’s  extraction  of  oil can  make  it  an  oil  exporter  and  the possibility  for  providing  its  own  oil products  based  on  the  nation’s  oil reserve. Currently, construction of the Darkhan oil refinery has begun, but it will take time until production starts.
Therefore, during the sub-meeting of Mongolia-China  intergovernmental meeting  held  early  2013,  the
Mongolian side made a request to the Chinese side to have its oil processedin China and take processed oil back to Mongolia. An Oil Refinery in Hohhot, China  completed  its  expansion  work at  the  end  of  2012.  In  consideration that Mongolia’s oil supply reached 8 percent of the annual oil needs of the
oil refinery, a contract was established in April, 2013 to receive monthly up to  10  thousand  tons  of  oil  products from the oil refinery.
PM N. Altankhuyag, MPs, and other officials attend the ribbon-cutting ceremony to inaugurate the petroleum sales
 Accordingly,  petroleum  made from  Mongolian  oil  started  being sold  on  May  16  through  Mongolia’s
domestic  importers  NIC,  Shunkhlai and Magnai Trade companies.Prime  Minister  N.  Altankhuyag,
MPs,  and  other  officials  attendedthe  ceremony  to  launch  the  sales  of petroleum. At  the  event,  taxis  of  the Ulaanbaatar  Taxi  Company  were the first to fill their vehicles with the petroleum.
The  PM  said  that  Mongolia  will increase  its  volume  of  oil  supply  in order to use its own petroleum more, and  the  Government  will  work  to keep  petroleum  prices  from  raising. Mongolia supplies 400-500 thousand tons of crude oil yearly from Tamsag, Dornod Aimag to China. The price of Mongol-93 petroleum being supplied from  Hohhot’s  refinery  was  set  as  a basis to the price of Mongolia’s crude
oil exporting to China.
Source: 'Mongol Messenger' 2013.05.24


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