Central & SE Asia / Australasia
Country profile: Mongolia
| Location: | Northern Asia, between China and Russia |
| Climate: | desert; continental (large daily and seasonal temperature ranges) |
| Terrain: | vast semidesert and desert plains, grassy steppe, mountains in west and southwest; Gobi Desert in south-central |
| Size: | 1564116 sq. km total (Land area: 1554731 sq. km Water area: 9385 sq.km) |
| Population: | 2,996,081 (July 2008 est.) |
| Languages: | Khalkha Mongol 90%, Turkic, Russian (1999) |
| Government: | mixed parliamentary/presidential |
| Capital city: | Ulaanbaatar |
| Legal system: | blend of Soviet, German, and US systems that combine "continental" or "civil" code and case-precedent; constitution ambiguous on judicial review of legislative acts; has not accepted compulsory ICJ jurisdiction |
| Currency: | togrog/tugrik (MNT) |
| Licensing: |
Country profile
The Mongols gained fame in the 13th century when under Chinggis KHAN they conquered a huge Eurasian empire. After his death the empire was divided into several powerful Mongol states, but these broke apart in the 14th century. The Mongols eventually retired to their original steppe homelands and in the late 17th century came under Chinese rule. Mongolia won its independence in 1921 with Soviet backing. A Communist regime was installed in 1924.
Following a peaceful democratic revolution, the ex-Communist Mongolian People's Revolutionary Party (MPRP) won elections in 1990 and 1992, but was defeated by the Democratic Union Coalition (DUC) in the 1996 parliamentary election. Since then, parliamentary elections returned the MPRP overwhelmingly to power in 2000, but 2004 elections reduced MPRP representation and, therefore, its authority.
Energy production and consumption
| Oil | Gas | |
| Production: | ||
| Consumption: | 12,000 bbl/day (2005 est.) | |
| Exports: | 821 bbl/day (2005 est.) | |
| Imports: | 12,280 bbl/day (2005 est.) | |
| Reserves: | ||
| Major fields: |
Mongolia - recent news
| 19 Oct 26 |
Mongolia: Petro Matad provides an update on its renewable energy activities in Mongolia Petro Matad, the AIM quoted Mongolian oil company, has provided an update on its renewable energy activities in Mongolia. The Company has signed an MOU covering cooperation on a renewable energy export initiative from Mongolia into China targeting a capacity of 4.5GW as a first phase, supported by 500MWh of battery storage. |
| 29 Sep 26 |
Mongolia: Petro Matad announces interim results for the six months ended 30 June 2026 Petro Matad, the AIM quoted Mongolian oil company, has announced its unaudited interim results for the six months ended 30 June 2026. The Company has proven that Block XX is capable of reliable and commercial production, with both the Heron-1 and Gazelle-1 wells performing consistently and in line with or ahead of expectations. This strengthens the Company's position as it continues discussions with potential farm-in partners to accelerate the development. |
| 22 Sep 26 |
Mongolia: Petro Matad provides an update on its 2026 Oil Sales Agreement Despite having issued written confirmation in August to Petro Matad and the Mongolian government that all its internal issues with respect to the 2026 Oil Sales Agreement had been resolved and that export and sale of Petro Matad’s 2026 production would commence, PetroChina has now advised that internal discussions are still ongoing within its head office. |
| 13 Aug 26 |
Mongolia: Petro Matad agrees 2026 Oil Sales Agreement with Petro Matad agrees 2026 Oil Sales Agreement with PetroChina for Block XX production and secures development rights to three utility-scale renewable energy projects, significantly expanding its portfolio in Mongolia. |
| 25 Jun 26 |
Mongolia: Petro Matad announces final results for year ended 31 December 2025 Petro Matad, the AIM quoted Mongolian oil company, has announced its audited final results for the year ended 31 December 2025. 2025 was a standout year for Petro Matad with continuing production from Heron-1 and the exciting addition of Gazelle-1 in the fourth quarter. |
Mongolia - more news
Other countries in this region
- Australia,
- Bangladesh,
- Brunei,
- Cambodia,
- China,
- Fiji,
- Hong Kong,
- India,
- Indonesia,
- Japan,
- Laos,
- Malaysia,
- Maldives,
- Myanmar,
- Nepal,
- New Zealand,
- North Korea,
- Pakistan,
- Palau,
- Papua New Guinea,
- Philippines,
- Singapore,
- South Korea,
- Sri Lanka,
- Taiwan,
- Thailand,
- Timor Leste,
- Vietnam
