Vietnam is estimated to reap crude oil export turnovers of at least 6.9 billion US dollars in 2005, an all-time high due to increased world prices, according to the Trade Ministry on Wednesday.

The country sold overseas nearly 16.5 million tons of crude oil worth roughly 6.8 billion dollars in the first 11 months of this year, down 7.6 percent in volume but up 30.3 percent in value over the same period last year, said the ministry's Trade Information Center.

The Ministry of Planning and Investment has recently proposed the government reduce crude oil exports in the 2006-2010 period, aiming to ensure sufficient supply of the material for domestic industries. Accordingly, Vietnam's crude oil export will drop to 18.5 million tons in 2006 and 15.6 million tons in 2010 from estimated 18.8 million tons this year.

Vietnam exported nearly 19.6 million tons of crude oil totaling 5.7 billion dollars, mainly to China, Singapore, Japan, England and the United States, last year.

Source: Xinhua