The Government is organizing an international conference “Oil and Gas” on November 1 with the aim of introduction of Mongolian oil exploration and exploitation, project of oil refinery and factory of fuel extraction from coal to domestic and foreign investors.

The conference is intending to involve petroleum businessmen and to decrease reliance on foreign imports. Nowadays Mongolia is almost wholly dependent on fuel imported from Russia and the Government is deciding a new oil refinery construction.

Mongolia exploited oil in Zuunbayan in 1950s and oil refinery renovation needed much expenses. That is why the oil refinery was closed and Mongolia imported fuel from Russia.