Mongolia extracted a total of 6.007 million barrels, or 814,506 tons, of crude oil this year. According to Ministry of Mining and Heavy Industry, the country has exported 5.879 million barrels, or 798,485 tons, of crude oil to China.

Mongolia had planned to extract 8.1 million barrels, or 1.1 million tons, of crude oil this year, which would have contributed USD 93.31 million to the state budget.

Currently, 74.11 percent of the extraction plan and 72.54 percent of export plan has accomplished.

Mongolia’s first oil refinery is now under construction near Sainshand in Dornogobi province and is scheduled to be commissioned in late 2022.