gogo logo
  • Монгол
  • Yolo
  • Maamuu
  • Politics
  • Economy
  • Society
  • Life
  • Interview
  • Culture
  • TRAVEL
  • Ulaanbaatar
  • Media OutReach
Helpful
Interview
  • - Interview
Interesting
Other
Монгол
Maamuu
Yolo
Main menu
Politics
Economy
Society
Life
Interview
Culture
TRAVEL
Ulaanbaatar
Media OutReach
Helpful
Interview
Interview
Interesting
Other menu
Монгол
Maamuu
Yolo
Contact us
Editorial ethics
Home
Search
Menu
  Facebook   Twitter
  Menu
Home
/ Санхүү
Finance

State policy on oil sector development approved by Cabinet

  Facebook   Tweet
  Facebook  Tweet

State policy on oil sector development approved by Cabinet

During its regular session on June 6, Cabinet approved a state policy on developing the oil sector through 2027.

According to officials, approval of the policy will increase the sector's human resources capacity and help to bring down the number of foreign workers required.

With soft-loan financing of 1 billion USD from the Government of India, Mongolia plans to build an oil refinery, which will require a stronger local workforce. Analysts believe the policy will positively impact inbound investment.

The Ministry of Mining and Heavy Industry reported that 333 million tons of guaranteed oil reserves have been discovered in three targets, with Mongolia ranking 33rd in the world for its oil reserves. Currently, Mongolia exports an average of 2,803 tons of oil per day.     ​

During its regular session on June 6, Cabinet approved a state policy on developing the oil sector through 2027.

According to officials, approval of the policy will increase the sector's human resources capacity and help to bring down the number of foreign workers required.

With soft-loan financing of 1 billion USD from the Government of India, Mongolia plans to build an oil refinery, which will require a stronger local workforce. Analysts believe the policy will positively impact inbound investment.

The Ministry of Mining and Heavy Industry reported that 333 million tons of guaranteed oil reserves have been discovered in three targets, with Mongolia ranking 33rd in the world for its oil reserves. Currently, Mongolia exports an average of 2,803 tons of oil per day.     ​

  Facebook   Tweet
Category
Finance
Published
2018-06-07


gogo logo
Contact us Editorial ethics

© 2007 - 2025 Mongol Content LLC