Interfax China cited Mr Musher Elchyan deputy director of Armenia biggest oil trader Flash as saying that a drop in oil-product use last year was prompted by the impact of the world economic crisis. In particular, the drop in fuel usage was largely due to a drop in construction. Many oil-trading companies serve the construction sector, including road-building companies.

Mr Elchyan said the more significant decrease in imports in monetary terms as opposed to physical volume was prompted by oil-product prices slumping in 2009.

Armenia does not have its own oil refining capacity and so consumes only imported fuel.

(Sourced from Interfax China)