It is projected that Mongolia will export a total of 8.1 million barrels (1.1 million tons) of crude oil in 2018.
As of June 20, oil export volume stood at 3.1 million barrels (424,000 tons) nationwide, bringing its export performance to 38.6 percent.
According to the 2018 State Budget Law, 223.45 billion MNT should be generated from the petroleum sector. In the first half of 2018, state revenue from crude oil exports amounted to 94.3 billion MNT. Construction of oil refinery infrastructure commenced in Altanshiree soum of Dornogobi Province on June 22, after many years of talks.