Japan crude oil imports lowest in Feb for 20 yrs
Japan’s crude oil import volumes declined to their lowest February tally in 20 years last month. For full story, click here
Articles Tagged "imports"
Morocco’s crude oil imports in Jan dropped 71.8%
It is reported that Morocco’s January crude oil imports stood at MAD 720.6 million, dropping 71.8% YoY as compared to the same period in 2008. For full story, click here
China’s crude oil imports dip 17.9% in Feb
China witnessed crude oil imports touch 11.73 million tons last month, a year-on-year decrease of 17.9%, or a month-on-month decline of 8.5% from imports in January, according to statistics released by China’s General Administration of Customs. For full story, click here
Japan Refiners to enhance Maintenance, Curbing Oil Imports
Japanese oil refiners led by Nippon Oil Corp. plan to close down more capacity during the peak spring maintenance season in 2009, lowering demand for crude oil imports from the world’s third-biggest user. For full story, click here
Reliance reduces 09 Iran crude imports by 25pct
India’s Reliance Industries will import around 25 percent less crude oil on contract from Iran in 2009 in favour of cheaper oil from outside the Middle East. For more information, click here
Demand Set To Recover Soon?
The jump was all too clear. A surprise drop in U.S. oil inventories caused crude prices to jump 14 per cent on Thursday, in New York, powering a broad commodities rally that pushed copper and corn higher. The only noticeable drop was in gold, which closed lower for the first time in three days.
Benchmark:South of US$60
It is obvious that a barrel price below $60 on the NYMEX is bad news for oil companies. Part of the drop reflects a strengthening American dollar, but recent demand forecast revisions are bleak. Governments, companies and investors think a prolonged recession or period of low growth is in the offing, and everyone should take note.
Benchmark: OPEC
OPEC’s meeting tomorrow will almost certainly result in talk of cutting production, but not much in the way of concerted action. Member nations’ motivations are not synchronized, so consensus is exceedingly unlikely. Iran wants to impose OPEC-wide decreases, but the UAE thinks current levels are appropriate. Although OPEC will not move together on this issue, some countries (notably Saudi Arabia) are likely to retrench significant volumes.
Ocean platform could handle 20 pct of US oil imports
An an oil terminal and pipeline network being planned by three companies off the Texas Gulf Coast could handle almost 20 percent of the nation’s daily imported oil. For more information, click here
N.Asia Q2 oil imports down 7pct
Crude oil exports to North Asia declined by 785,000 barrels per day (bpd) in Q2 from the first due to seasonal plant maintenance, while prices above $100 motivated refiners to reduce import and draw on inventories. A trader with a North Asian refiner said: Imports dropped mainly due to refinery maintenance. But a second reason is decreasing demand. For more information, [...]
