Hanoi (Platts)--13Jan2012/345 am EST/845 GMT

Vietnam has increased its oil products import quota for 2012 by 1.2% to 10.1 million cubic meters from 9.978 million cu m in 2011, state-run Vneconomy said Friday, quoting Ministry of Industry and Trade directives.

Imports by local distributors for 2012 will include 3.48 million cu m of gasoline, 5.52 million cu m of diesel, over 1 million mt of fuel oil, 300,000 cu m of jet fuel and 12,000 cu m of kerosene, according to the report.

Vietnam's top importer, Vietnam National Petroleum Corp., or Petrolimex, will be allowed to import a total 5.84 million cu m oil products.

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The second biggest oil importer PV Oil and third biggest Petec, will be allowed to import 1.26 million cu m and 503,000 cu m, respectively. The rest 10 importers will be allowed to bring in 3.4 million cu m of oil products.

The ministry did not immediately respond to queries on the directive.

In November last year, the ministry had lowered its import quota for 2011 by 1.022 million cubic meters to 9.978 million cu m. The decision to lower the import quota was attributed to lower-than-expected consumption of oil products in 2011, and the steady operations at the country's 6.5 million mt/year Dung Quat refinery, said Vneconomy.

Around 70% of Vietnam's oil product demand is met through imports, with the balance supplied by its sole Dung Quat refinery.

--Dao Dang Toan, newsdesk@platts.com

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