UPDATE 1-Vietnam sees '08 stable crude export, revenue up

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HANOI, Jan 31 (Reuters) - Vietnam has forecast its crude oil exports this year would be stable at 15 million tonnes, or 300,000 barrels per day, a state-run newspaper reported on Thursday.

While the forecast volume is close to the 15.08 million tonnes shipped last year, revenue from crude, Vietnam's top foreign exchange earner, could rise 7 percent to around $9 billion, the Industry and Trade Ministry-run Commerce newspaper said.

It forecast a tonne of crude oil would fetch an average $600 this year, a 6.4 percent rise from last year's average price.

"Due to a stable production of crude oil each year, which is on a declining trend, it is not simple to increase the export volume," the newspaper report said.

Vietnam, southeast Asia's third-largest crude oil producer which exports all its crude, is expected to increase domestic consumption of oil for the first time late this year, as it is scheduled to test run its Dung Quat refinery, its first such facility, in the last quarter.

The $2.5-billion refinery would be fully operational in February 2009.

Earlier this month, state oil group Petrovietnam said crude oil production this year would total 16 million tonnes or an average of 320,000 bpd, almost unchanged from 2007.

Daily output has been running below the peak of 434,000 barrels in January 2004, following lower production at Bach Ho, the country's biggest oilfield.

Crude oil output this month would rise nearly 6 percent from December to an estimated 315,000 barrels per day, the government said on Tuesday. (1 tonne=7.33 barrels) (Reporting by Ho Binh Minh; Editing by Valerie Lee) (For related table, click on [ID:nHAN23221])