ULAN BATOR, June 27 (Xinhua)-- Mongolian authorities said Wednesday that the country has in total extracted over 3.196 million barrels or 433,311 tons of crude oil in the first half of the year.

The Mongolian Ministry of Mining and Heavy Industry said that out of its total production, 3.127 million barrels or 424,631 tons of crude oil were exported to China during the same period.

Currently, Mongolia exports crude oil to China and imports petroleum products from Russia.

The country is planning to extract 8.1 million barrels or 1.1 million tons of crude oil this year, which would contribute 223.4 billion Mongolian Tugrik (93.31 million U.S. dollars) to the state budget.

According to the ministry, Mongolia has implemented 38.6 percent of its export goals for the year.