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USA
According to official data, US crude oil imports increased in March to average 9.33 mb/d, about 3.4% or 303,000 b/d higher compared to the previous month, but 3% lower than a year ago. With March crude imports, US average imports stand at about 9.41 mb/d for the first quarter of 2009, about 3.4%, or 336,000 b/d lower compared to the same period a year earlier.
Similarly, US product imports increased in March by 2.2%, or 68,000 b/d compared to the previous month to average 3.12 mb/d, about 6.5% higher than in the same month last year. Finished motor gasoline imports increased in March by 118,000 b/d, or 66% compared to the previous month to reach 298,000 b/d. Finished motor gasoline imports were lower by 20% compared to March 2008, and average imports during the first quarter of 2009 were 37% lower compared to the same period the previous year. Distillate fuel oil imports declined in March by 52,000 b/d, or 17% compared to the previous month to average 259,000 b/d. This level of imports indicates a 7% increase compared to the same month last year, and average distillate fuel oil imports during the first quarter of 2009 were 17% higher compared to the first quarter 2008. Residual fuel oil imports declined in March by 59,000 b/d, or 14% compared to the previous month, reaching about 361,000 b/d, 10% lower than in March 2008, but average imports during the first quarter of 2009 were 5% higher than in the same period last year. Jet fuel imports in March averaged 94,000 b/d, up from 59,000 b/d the previous month and were almost steady compared to the same month a year earlier.
On the export side, US product exports increased in March by 79,000 b/d, or 5% compared to the previous month to average 1.64 mb/d. This represents a decline of 158,000 b/d or about 9% compared to the year-ago level. US product exports during the first quarter of 2009 averaged 1.56 mb/d, 14% lower compared to the same period the previous year.
As a result, US net oil imports increased in March by 2.8% compared to the previous month to reach about 10.78 mb/d. The 292,000 b/d increase in net oil imports in March came as a result of a 303,000 b/d increase in net crude oil imports and a 11,000 b/d decline in net product imports compared to the previous month. Net oil imports in March were almost steady compared to a year earlier as were average net oil imports during the first quarter of 2009 compared to the same period last year.
Canada was the top crude oil supplier to the US in January 2009 with a share of 19.8%, down from 21.6% the previous month, followed by Saudi Arabia with 13.6%, down from 14.8% the previous month. Mexico and Venezuela came next with 13.2% and 11.9% respectively. Altogether, OPEC Member Countries supplied 51% of total US crude oil imports in January, down from 54.1% the previous month. For product imports, once again Canada was the top product supplier to the US in January with a share of 17.1%, up from 16.2% the previous month. Virgin Islands was next with a share of 10.5%, up from 8.3% a month earlier, followed by Algeria with 10.3%, up from 7.1% the previous month. For OPEC Member Countries, in addition to Algeria, Venezuela supplied 5.2% of total US oil product imports in January, up from 3.8% the previous month, followed by Saudi Arabia with 0.7%. Altogether OPEC Member Countries supplied 18.8% of US product imports in January, up from 16.6% a month earlier. For US product exports, Mexico was the top importer in January with a share of 15%, down from 17% the previous month. Netherlands was next with 10.7%, down from 16.1%, and Canada with 10.1%. Altogether, OPEC Member Countries imported 3.4% of total US product exports in January, down from 3.8% in the previous month. Ecuador imported 2.3% and Venezuela 0.8%.
Japan
According to Japanese published data, Japan’s crude oil imports averaged about 4.0 mb/d in February, about 170,000 b/d, or 4.5% higher compared to the previous month, but 9.5%, lower compared to the same month a year earlier. This y-o-y drop comes in line with the falling rates of domestic oil product sales in the country which declined for the ninth month in a row by 20% compared to the previous year, hitting a 39-year low for the month, as a result of the deep economic recession, ageing population and a growing shift towards cleaner energy. February crude oil imports were about 213,000 b/d, or 5% lower than the country’s average crude oil imports of 4.18 mb/d in 2008.
Similarly, Japan’s product imports increased in February by 145,000b/d, or 17.5% compared to the previous month, to average about 0.97 mb/d, displaying an annual decline of the same percentage compared to February 2008. Japan mainly imports three products, naphtha, LPG and fuel oil which accounted for about 94% of its total monthly product imports in February. Average LPG imports in February were about 427,000 b/d, 46,000 b/d or 12% higher than in the previous month, but about 9% lower than a year earlier. Naphtha imports averaged 426,000 b/d in February, indicating an about 16% increase over the previous month, yet were 28% lower compared to a year earlier. Fuel oil imports in February were at 57,000 b/d, up by 66% from the previous month, but down by 48% compared to February 2008. Japan also imported about 37,000 b/d of kerosene in February compared to 26,000 b/d in January. LPG and naphtha imports each amounted to 44% of Japan’s total products imports in February and fuel oil forabout 6%. Japan’s product imports in February were 15% lower than the average imports in 2008.
Japan’s product exports in February were almost steady compared to the previous month, but 2.2% lower compared to a year ago, to average about 591,000 b/d. Gasoil, jet fuel and fuel oil are Japan’s main product exports which together amounted to about 94% of the country’s total product exports in February. Gasoil exports in February were about 283,000 b/d, up by 15%, or 37,000 b/d compared to the previous month, and by 36% compared to a year ago. Jet fuel exports were at a record-low in February, averaging about 76,000 b/d, a substantial 41%, or 53,000 b/d lower compared to the previous month, and 59% lower than at a year earlier. Fuel oil exports in February were about 199,000 b/d, 18%, or 30,000 b/d higher compared to the previous month, and 32% higher than in the same month of the previous year. Gasoil exports amounted to 48% of Japan’s total product exports in February, fuel oil 33% and jet fuel 13%. Japan exported lower quantities of gasoline, naphtha, lubricating oil, asphalt and LPG in February, totaling 34,000 b/d. February’s product exports were 15% lower than average product exports a year earlier.
As a result, Japan’s net oil imports in February were about 4.35 mb/d, indicating an increase of 310,000 b/d or 8% compared to the previous month, yet 12% lower compared to a year earlier. Net crude imports were higher by 171,000 b/d and net product imports were higher by 138,000 b/d. Despite this month-on-month increase, Japan’s net oil imports in February were 6% lower compared to average net oil imports in 2008.
Saudi Arabia was Japan’s top crude oil supplier in February, supplying 28.7% of Japan’s total crude oil imports in the month, down from 29.9% the previous month. The UAE share was 20.9%, steady compared to the previous month. Iran supplied 13.2%, down from 13.5% a month earlier, while Qatar’s share was 10.2%, down from 10.6% in the previous month. OPEC ember Countries supplied 37% of Japan’s crude oil imports in February, up from 86.4% a onth ago. Top non-OPEC crude oil suppliers in February include Russia with 3.0% and Oman ith 2.1%. On the product side, preliminary data indicate that Saudi Arabia was also Japan’s top upplier in February with 13%, followed by the UAE with 12.1% and Kuwait with 11.2%.
Altogether, OPEC Member Countries supplied 48% of Japan’s product imports in February, up rom 47.3% the previous month. Top non-OPEC product suppliers in February include the US ith 10.6%, followed by South Korea with 9.6% and Indonesia with 6.4%.
China
According to Chinese official data, China’s crude oil imports increased in February to reach
3.07 mb/d, about 1% or 38,000 b/d higher than the previous month, but 15% lower compared to ebruary 2008. Average crude oil imports for the first two months of 2009 were 3.05 mb/d, ndicating an about 0.4 mb/d or 11.7% decline compared to the same period last year. On the ther hand, China’s crude oil production in February was 9.7% higher compared to the previous onth, averaging about 4.1 mb/d. China’s February crude oil production was about 1.0 mb/d igher than the country’s crude oil imports in the same month, which is a record high for several years.
China’s product imports increased sharply in February to average 1.1 mb/d, indicating an ncrease of about 0.35 mb/d, or 46% compared to the previous month and 38% compared to a ear earlier. Jet fuel imports in March reached about 185,000 b/d, up from 104,000 b/d the revious month. South Korea supplied more than 50% of China’s jet fuel imports in February, aiwan 18% and Japan 14%. Naphtha imports in February were about 59,000 b/d, steady ompared to the previous month. Saudi Arabia supplied 41% of China’s naphtha imports in february, followed by the UAE with 27%. Gasoil imports in February averaged 32,000 b/d, ainly from South Korea and Russia.
China’s fuel oil imports increased sharply in February, averaging about 556,000 b/d, about 215,000 b/d, or 63% higher than the previous month. Singapore supplied 24% of china’s fuel imports in February, followed by Russia with 11% and Malaysia with 10%. Imports of LPG averaged 118,000 b/d in February, down from 187,000 b/d in the previous month. Iran supplied 38% of China’s LPG imports in February, followed by the UAE with 25% and Qatar with 15%. Altogether, China imported an average of 0.93 mb/d of products in the first two months of 2009, indicating annual growth of 7% over the same period last year. In February, fuel oil imports accounted for 50% of China’s total product imports, up from 44% in January, jet fuel for 17%, LPG 11%, naphtha 5% and gasoil 3%.
On the export side, China’s crude oil exports in February were at 160,000 b/d, the highest rate since January 2008, indicating an increase of 51%, or 54,000 b/d compared to the previous month. About 50% of China’s crude oil exports in February were destined for Singapore, 19% for South Korea and 16% for Japan. China’s product exports in February were at about 0.48 mb/d, 9% higher compared to the previous month and 27% higher than the same month of the previous year. Exports of all major products were higher in February compared to a month earlier. Average product exports for the first two months of 2009 were about 0.46 mb/d, indicating an increase of 26% over the same period last year.
Fuel oil exports in February were at 88,000 b/d, about 6% higher than the previous month.
Panama imported about 31% of China’s fuel oil exports in February, followed by Hong Kong with 15% and Liberia with 10%. Exports of jet fuel in February were at 124,000 b/d, up from 84,000 b/d the previous month. Hong Kong imported 59% of China’s jet fuel exports in February, followed by the US with 9%. Gasoline exports were at 57,000 b/d in February, up from 60,000 b/d in the previous month. This makes China a net gasoline exporter of about 87,000 b/d in February. Singapore imported 61% of China’s gasoline exports in February and Indonesia 34%. China’s naphtha exports in February were about 17,000 b/d, up from 14,000 b/d the previous month. Gasoil exports in February were at 88,000 b/d, a sharp increase from 32,000 b/d the previous month. Vietnam, Singapore and Hong Kong were China’s main gasoil importers in February. China exported 34,000 b/d of LPG in February, up from 22,000 b/d the previous month. Vietnam and Hong Kong were China’s main importers of LPG in February. Jet fuel exports accounted for 26% of China’s total products in February, gasoline, fuel oil and gasoil amounted to about 18% each, LPG 7% and naphtha 3%.
With net crude oil imports of 2.91 mb/d and net product imports of 0.64 mb/d, China’s net oil imports in February were at 3.55 mb/d, indicating an increase of 9%, or 293,000 b/d over the previous month, and a decline of 12% compared to a year earlier.
Once again, Saudi Arabia was China’s top crude oil supplier in February with a share of 27.2%, up from 24.5% the previous month. Iran was next with 16.3%, slightly down from 16.5% a month earlier. Angola’s share of China’s total crude oil imports in February was 10.8%, substantially down from 17.1% the previous month. Altogether, OPEC Member Countries supplied 66.2% of China’s crude oil imports in February, down from 66.6% the previous month. Top non-OPEC crude oil suppliers in February include Russia with 8.8%, Oman with 7.2% and Sudan with 6.1%.
India
According to preliminary data, India’s crude oil imports were steady in February compared to the previous month, averaging about 2.47 mb/d. February’s crude imports were about 138,000 b/d, or 5.3% lower compared to the same month a year earlier and about 100,000 b/d lower compared to India’s average imports in 2008.
India’s product imports declined in February by 7% compared to the previous month to average about 0.32 mb/d, a substantial 45% lower compared to the same month a year ago. Higher imports of naphtha, LPG and fuel oil were more than offset by declines in imports of gasoil, gasoline and kerosene. Gasoil imports in February averaged about 53,000 b/d compared to 96,000 b/d the previous month. There were no gasoline imports in February compared to only 7,000 b/d the previous month. LPG imports in February averaged about 51,000 b/d compared to about 38,000 b/d a month earlier. India imported an average of 101,000 b/d of naphtha in February compared to 91,000 b/d in the previous month, indicating an increase of 11%. Fuel oil imports in February averaged 24,000 b/d compared to 22,000 b/d a month earlier and kerosene imports were about 11,000 b/d compared to 14,000 b/d in the previous month. February’s product imports were about 102,000 b/d, or 24% lower compared to India’s average product imports in 2008.
On the export side, India’s total product exports of 577,000 b/d in February were 168,000 b/d
23% lower compared to the previous month, and 27% lower compared to a year earlier. Exports all major products were lower in February without exception. Fuel oil exports in Febru averaged 72,000 b/d, down from 132,000 b/d the previous month. Jet fuel exports were 68,000 b/d in February, steady compared to the previous month. Gasoil exports in Febru averaged 253,000 b/d, 22% lower than a month earlier. Gasoline exports declined in February average about 109,000 b/d, from 115,000 b/d in the previous month. Naphtha exports were 66,000 b/d in February, compared to 93,000 b/d a month ago. February’s product exports w 169,000 b/d, or 23% lower compared to India’s average product exports in 2008.
As a result, India’s net oil imports in February averaged 2.21 mb/d, displaying an increase of or 134,000 b/d compared to the previous month, but were 8% lower compared to a year earl The increase in net oil imports is attributed to higher net product imports and steady net cru imports. February’s net oil imports were almost steady compared to the country’s average netimports in 2008.
FSU
According to preliminary data, FSU crude oil exports in February increased by 268,000 b/d, or 4% compared to the previous month to average 6.72 mb/d. Russian pipeline crude exports increased by 54,000 b/d or 1% compared to the previous month. The increase is mainly attributed to the 107,000 b/d higher exports through the Baltic against steady exports through the Black sea and a decline of exports through Druzhba by 61,000 b/d. Russian crude oil exports by rail increased by 3%, or 18,000 b/d in February compared to the previous month to average about 579,000 b/d. Kazak rail crude exports to China and CPC pipeline exports were steady at 19,000 b/d and 753,000 b/d respectively in February compared to a month earlier. Caspian crude oil exports averaged 264,000 b/d in February, slightly lower compared to the previous month.
FSU oil product exports increased in February by 23,000 b/d, or less than 1% compared to the previous month to average 2.95 mb/d. Gasoil exports were at 1.11 mb/d, steady compared to a month earlier, while fuel oil exports dropped by 35,000 b/d, or 4% to average 0.92 mb/d. Exports of other products averaged 0.93 mb/d indicating an increase of 64,000 b/d.
In total, FSU crude oil and product exports averaged 9.67 mb/d in February, indicating a growth of 3%, or about 291,000 b/d compared to the previous month. February’s total exports were 931,000 b/d, or 11% higher than at a year earlier.
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