Mongolia earns 55 mln USD from crude oil exports to China

ULAN BATOR, Sept. 3 (Xinhua) -- Mongolia has exported most of its crude oil production this year to China, adding 55 million dollars to the state exchequer, the Ministry of Mining and Heavy Industry said on Monday.

A total of 4.20 million barrels or 569,000 tons of crude oil was extracted from the beginning of this year to Aug. 15, the ministry said. Of this, 4.11 million barrels or 558,000 tons were exported to China.

The landlocked East Asian country plans to extract 8.1 million barrels or 1.1 million tons of crude oil in 2018, which would contribute 93.31 million dollars to the state coffers.

It has so far implemented 50.71 percent of the export plan.