Analysis – June

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Domestic sales of refined petroleum products in June 2009 totalled 7.9 million cubic metres, down 523.8 thousand cubic metre (-6.2 %) from the same month a year earlier.

The decline in sales was led by a 161.3 thousand cubic metre (-33.8 %) decrease in heavy fuel oil and a 205.4 thousand cubic metres (-9.0 %) decline in diesel fuel.

Sales of aviation turbo fuel (including kerosene and naphtha), propane, butane, and motor gasoline increased.

Refinery production in June 2009 totalled 9.4 million cubic metres, down 685.2 thousand cubic metres (-6.8 %) from the same month a year earlier. Motor gasoline and diesel accounted for about 60 % of refinery production.

The largest decrease in refinery production in June was reported in diesel fuel oil, down 272.2 thousand cubic metres (-11.0 %) compared to the same month a year earlier. Petrochemicals declined 98.3 thousand cubic metres (-23.5 %).

Crude oil and equivalent received by refineries in June 2009 totalled 8.1 million cubic metres, 751.2 thousand cubic metres (-8.5 %) below the same month a year earlier. Imports were down 766.7 thousand cubic metres (-16.2 %).

Imports represented 49 % of crude oil refinery requirements. OPEC crude oils accounted about 53% of imported supplies. The North Sea (Norway and the United Kingdom) supplied and additional 25% of import requirements.

Crude oil and refined petroleum product inventories held by refineries and major distributors closed June 2009 at 14.0 million cubic metres, 843.5 thousand cubic metres (-5.7 %) below a year earlier.

Of this volume petroleum product inventories totalled 10.8 million cubic metres, 594.2 thousand cubic metres (-5.2 %) below closing June 2008. The decrease was led by a reduction in petrochemical feedstock, the 'other' products category, and diesel inventories.