13-10-2018

India’s oil imports fall 13.7 pct in Sept y/y -trade

India’s oil imports fell by 13.7 percent in September from a year earlier to 4.2 million barrels per day as Bharat Petroleum Corp skipped imports due to a maintenance turnaround at its central India refinery, according to data from shipping and industry sources. BPCL had shut its 120,000 barrels-per-day (bpd) joint venture Bina refinery from mid-August for 45 days for upgrades and maintenance, sources previously told Reuters.

Nayara Energy, part owned by Russian oil major Rosneft, also curtailed imports ahead of a month long shutdown from mid-November, the data showed. India, the world’s third-biggest oil consumer, received a marginally higher volume from Iran in September compared to the previous month as loading of some of the August cargoes was delayed due to unavailability of shipping and insurance to transport oil from Tehran.

The Middle East’s share of India’s total oil imports rose in September to 62.3 percent from 60 percent in August, while that of African grades jumped to about 17 percent from about 13 percent. South American grades were about 12.5 percent of India’s overall purchases, compared with 15.8 percent in August, the data showed.

The following table shows India’s imports by country. The imports include condensate. Volumes are in ‘000 bpd.

 Region/Countr      Sep     Aug   % chg    Sep      % chg     Jan- Sep   Jan-Sep   % chg
 y                 2018    2018  mth /mth  2017     yr/yr     2018       2017     yr/yr
 Latam                                                                                   
 Brazil            63.2    65.3      -3.3     66.1      -4.4       66.4    100.4    -33.9
 Colombia          72.8    70.0       4.0      0.0        --       15.9      0.0       --
 Ecuador           36.5    32.0      14.0      0.0        --        7.6     18.6    -58.8
 Mexico            71.1   173.4     -59.0    184.3     -61.4      187.2    116.7     60.3
 Venezuela        275.9   403.5     -31.6    498.1     -44.6      337.2    420.3    -19.8
 Argentina          0.0     0.0        --      0.0        --        4.8      0.0       --
 TOTAL            519.4   744.1     -30.2    748.5     -30.6      619.0    656.0     -5.6
                                                                                         
 Asia                                                                                    
 Brunei             0.0    37.1    -100.0     37.3    -100.0       16.7     32.4    -48.5
 Malaysia          38.0   115.0     -67.0     45.9     -17.2       74.7     69.8      7.0
 Australia          0.0     0.0        --      0.0        --        5.3      0.0       --
 TOTAL             38.0   152.1     -75.0     83.2     -54.4       96.6    102.2     -5.5
                                                                                         
 Middle East                                                                             
 Oman              16.8    32.5     -48.2    218.1     -92.3       85.8     49.1     74.6
 Iran             527.6   522.9       0.9    415.4      27.0      592.4    488.6     21.3
 Iraq             729.2  1021.1     -28.6   1041.8     -30.0      964.5    875.9     10.1
 Qatar             65.7    94.3     -30.3      0.0        --       61.6     58.8      4.7
 Kuwait           168.8   150.8      11.9    216.6     -22.1      235.7    195.5     20.6
 S. Arabia        667.6   746.9     -10.6    808.5     -17.4      769.3    774.7     -0.7
 U.A.E.           419.7   252.3      66.3    302.6      38.7      281.6    301.1     -6.5
 Dubai              0.0     0.0        --      0.0        --        1.8      5.5    -66.6
 Yemen              0.0     0.0        --      0.0        --        7.6      0.0       --
 TOTAL           2595.4  2820.9      -8.0   3003.0     -13.6     3000.4   2749.2      9.1
                                                                                         
 Europe                                                                                  
 North sea          0.0     0.0        --      0.0        --        2.0      0.0       --
 Norway             0.0    31.1    -100.0      0.0        --        3.5      0.0       --
 TOTAL              0.0    31.1    -100.0      0.0        --        5.6      0.0       --
                                                                                         
 C.I.S.                                                                                  
 Azerbaijan        67.8     0.0        --      0.0        --       47.0     28.0     67.5
 Kazakhstan        32.8    62.4     -47.3     64.6     -49.1       25.2     47.0    -46.4
 Russia            68.1     0.0        --     68.3      -0.3       29.9     67.0    -55.4
 TOTAL            168.7    62.4     170.6    132.9      26.9      102.1    142.1    -28.2
                                                                                         
 Africa                                                                                  
 Nigeria          336.5   278.9      20.7    558.8     -39.8      323.5    414.2    -21.9
 Angola            66.3   141.3     -53.1     65.9       0.6      138.0    129.0      6.9
 Cameroon           0.0     0.0        --     31.7    -100.0        3.7      6.9    -46.5
 Congo             30.4    29.6       2.8      0.0        --       12.2      4.4    175.7
 Chad              32.6    31.6       3.2     33.0      -1.2       26.8     14.5     84.6
 Egypt             67.7    47.1      43.9     74.1      -8.7       47.4     46.6      1.9
 Gabon             64.4    30.5     111.4      0.0        --       24.8      6.8    264.3
 Ghana              0.0     0.0        --      0.0        --        7.2      0.0       --
 Sudan             22.2    20.6       8.0      0.0        --       21.1     22.4     -5.8
 Eq Guinea          0.0     0.0        --     34.0    -100.0        9.7      7.5     29.4
 Algeria           85.8    31.5     172.3     64.1      34.0       28.7     53.4    -46.3
 Libya              0.0     0.0        --      0.0        --        7.3      0.0       --
 TOTAL            705.9   610.9      15.6    861.6     -18.1      650.4    705.8     -7.8
                                                                                         
 CANADA            37.6     0.0        --      0.0        --        4.1      7.5    -45.1
 USA              102.8   275.0     -62.6      0.0        --       90.5      0.0       --
 TOTAL ALL       4167.8  4696.5     -11.3   4829.3     -13.7     4568.8   4362.8      4.7

NOTE: The total may not tally as numbers in tonnes have been rounded off after converting them into barrels using a conversion factor of 7.3 barrels per tonne and dividing by the number of days. Numbers for the previous months may have been revised. The data includes some oil tankers that arrived in September but discharged in October. It may also include some parcels that arrived in August and discharged in September.

Source: Reuters

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