26-11-2016

India Essar’s Oct oil imports from Iran rise 86 pct y/y – trade

oiltanker

Essar Oil, the top Indian buyer of Iranian crude, imported about 86 percent more Iranian oil in October compared to a year ago, according to tanker arrival data obtained from trade sources and ship-tracking services on the Thomson Reuters terminal.

The company’s crude purchases from Latin America in October rose 3.6 percent from a year ago, the data showed.

A group led Russian oil giant Rosneft earlier this month agreed to acquire a 98 percent stake in Essar Oil and associated port and power plant for about $13 billion, including debt.

Rosneft may supply Venezuelan oil to Essar’s Vadinar refinery after a deal to buy a stake in the Indian company is finalised, the Indian company’s managing director, L. K. Gupta, told Reuters in August.

Essar shipped in about 250,000 barrels per day (bpd) of oil from Iran last month, a growth of about 89.5 percent from about 132,000 bpd a year ago, the data showed.

Following are details of Essar’s crude and condensate imports. Volumes are in 1,000 bpd:

 Region/Count    Oct    Sep  %Change    Oct  %Change     Jan-Oct   Jan-Oct    %Change
 ry             2016   2016  mth/mth   2015   yr/yr         2016      2015     yr/yr 
 Latam                                                                      
 Brazil          0.0    0.0       --    0.0       --         0.0      14.1     -100.0
 Colombia        0.0    0.0       --    0.0       --         0.0       2.0     -100.0
 Mexico         68.4    0.0       --   68.3      0.2        14.1      22.5      -37.4
 Venezuela     140.2  210.7    -33.4  133.1      5.4       157.3     110.2       42.8
 TOTAL         208.7  210.7     -1.0  201.4      3.6       171.4     148.8       15.2
 Asia                                                                                
 Pakistan        0.0    0.0       --    0.0       --         0.0       1.1     -100.0
 TOTAL           0.0    0.0       --    0.0       --         0.0       1.1     -100.0
 Middle East                                                                         
 Iran          250.2  132.0     89.5  134.4     86.1       174.6     109.2       59.9
 Iraq            0.0   36.4   -100.0    0.0       --        13.6      39.9      -65.8
 Qatar           0.0    0.0       --    0.0       --         0.0       1.5     -100.0
 Kuwait          0.0    0.0       --    0.0       --         0.0       5.4     -100.0
 Saudi Arabia    0.0    0.0       --    0.0       --         2.3       1.4       68.5
 U.A.E.          0.0    0.0       --    0.0       --         5.1       5.5       -7.0
 TOTAL         250.2  168.4    48.5   134.4     86.1       195.6     162.8       20.1
 Africa                                                                              
 Egypt           0.0    0.0       --    0.0       --         0.0       9.4     -100.0
 TOTAL           0.0    0.0       --    0.0       --         0.0       9.4     -100.0
 TOTAL ALL     458.9  379.1     21.0  335.9    36.6        367.0     322.1       13.9

NOTE: The total may not tally as numbers in tonnes have been rounded off after converting them into barrels per day using a conversion factor of 7.2 barrels in a tonne divided by the number of days. Numbers for previous months have been revised.

Source: Reuters

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