Analysis – December 2007
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Domestic sales of refined petroleum products in December 2007 totalled 8,631.1 thousand cubic metres, up 4.2% from the same month a year earlier. On an annual basis sales of refined petroleum products in 2007 were 3.7% higher than 2006.
The 2007 increase in sales was led by strong domestic demand for transportation fuels. Demand for motor gasoline increased by 3.9% over 2006. Diesel fuel oil was up by 4.8%. All other products posted increases with the exception of naphtha and asphalt.
On a national basis Canadians consumed almost 43 billion litres of motor gasoline in 2007. Regular unleaded gasoline accounted for about 90% of this volume. Premium gasoline accounted for about 8%. On a provincial basis Ontario consumed about 38% of motor gasoline sales followed by Quebec ( 22%) and Alberta (14%).
In December 2007, domestic refineries produced 10.6 million cubic metres of refined petroleum product, 3.4% above a year earlier. On an annual basis refinery production totalled 121.7 million cubic metres 1.6 % above 2006. Motor gasoline and diesel fuel oils represented about 58% of total refinery output unchanged from the year before.
Domestic refiners took 8.9 million cubic metres of crude oil and equivalent in December 2007 slightly below the same month a year earlier. However on an annual basis refineries received 107.6 million cubic metres, 4.0% above the 2006 level. This increase was led by a 6.7% rise in the receipts of domestic crude oils to 57.7 million cubic metres.
Refineries received 3.8 million cubic metres of imported crude oil in December 2007. In 2007 crude oil imports totalled 49.8 million cubic metres representing about 46% of total refinery receipts compared to a 48% share in 2006. OPEC countries comprised 50% of all imports led by Algeria, Saudi Arabia and Iraq. North Sea sources supplied 38% of total crude oil imports.
Total crude oil and refined petroleum products held by refineries and major distributors closed 2007 at 14.3 million cubic metres, 4.3% higher than the close of 2006. Of this volume, crude oil inventories accounted for 3.1 million cubic metres, 9.7% lower than a year earlier. Refined petroleum product inventories closed the year at 11.2 million cubic metres 9.1% higher than a year earlier.
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