Mongolian Minister of Mining and Heavy Industry Yundeng said at a press conference that Mongolia plans to urgently import AI-92 gasoline from China to alleviate domestic fuel shortages.
For many years, Mongolia’s fuel supply has completely relied on imports, of which more than 90% are imported from Russia. The Russian refined oil supplier notified Mongolia a few days ago that due to internal maintenance and the impact of the epidemic, the company could only supply 17,000 tons of gasoline to Mongolia in September. As of the 16th of this month, the supplier only provided 7,400 tons of AI-92 gasoline to Mongolia, and said that it will not be able to continue to supply Mongolia with fuel in September. In order to meet the fuel demand in the domestic market, five domestic fuel import companies in Mongolia have signed fuel import agreements with PetroChina.
In addition, according to official statistics released by Mongolia, the total proven reserves of crude oil in Mongolia are 332.6 million tons, of which the recoverable reserves are 43.2 million tons. In June 2018, Mongolia cooperated with India to build the country’s first oil refinery in the country’s East Gobi Province. The refinery was originally planned to be completed and put into operation in 2022, but due to the impact of the epidemic, the refinery construction project progressed slowly, and the completion and commissioning date was delayed to 2024.