During the last six years exploration of petroleum in Mongolia has drastically increased. 

 

As of the first quarter of 2009 Mongolia has explored 183,000 barrels of petroleum, and in the last quarter of this year Mongolia has explored 1.8 million barrels of petroleum. 

 

However, during this period the consumption of petroleum has doubled. 

 

As of the first quarter of 2009 Mongolia has imported 30 million USD in petroleum, however, as of the first quarter of this year, 70 million USD has been spent on imported  fuel. 

 

As reported by the Minister of Industry, D.Erdenebat, Mongolia is going to build a petroleum processing factory with the capacity to process 2 million tons of petroleum per year in the Gobi region and Tamsag.