Up to 2003 land-locked Mongolia produced a little over
500 bbls per day oil production onshore but new drilling by the Daqing
Oil Company from China has expanded output and could do so significantly
in the near term future.
The country produces no gas.
Consumption by Mongolia’s small population will increase
as its indigenous production rises. However, the country could change
from being an importer to having the capacity to become a net exporter
to China after 2010.