Mongolia exports 1.85mn barrels of crude oil in Q1

ULAN BATOR: Mongolia exported 1.85 million barrels or 251,000 tons of crude oil in the first quarter of this year, the country's Ministry of Mining and Heavy Industry said Tuesday.

Mongolia is planning to extract 8.1 million barrels or 1.1 million tons of crude oil this year, which would contribute 223.4 billion Mongolian Tugrik (93.31 million US dollars) to the state budget.

At present, the country has implemented 14.1 percent of its export plan, the ministry said in a statement.

Currently, Mongolia exports crude oil to China and imports petroleum products from Russia.