Analysis – June 2010

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Domestic sales of refined petroleum products in June 2010 totalled 9.8 million cubic metres, 1.9 million cubic metres (+24.0%) higher than June 2009. Sales were up in all major product categories.

January to June sales of petroleum products were up 10.1% compared to the same six month period in 2009.

Motor gasoline sales totalled 4.2 million cubic metres 584.3 thousand cubic metres (+16.3%) higher than June 2009. Diesel fuel oil sales totalled 2.7 million cubic metres 615.1 thousand cubic metres higher than a year earlier.

About 89% of motor gasoline was sold at the retail pump in June 2010. Regular unleaded gasoline accounted for 90.4% of these sales, 16.7% higher than June 2009.

Refinery production in June 2010 totalled 9.9 million cubic metres, 594.0 thousand cubic metres (+6.4%) above June 2009.

Deliveries of crude oils to domestic refineries totalled 5.2 million cubic metres, 1.1 million cubic metres (+25.6%) above the same month a year earlier. Receipts of domestic crude oils more than offset a 535.1 thousand cubic metre (13.5%) decrease the delivery of foreign supplies.

Crude oil imports represented 39.8% of domestic refinery requirements. OPEC sources led by Angola, Algeria, and Nigeria accounted for 73.4% of this requirement.

Crude oil and refined petroleum product inventories held by refineries and major distributors closed June 2010 at 10.7 million cubic metres 23.0% below June 2009.

Petroleum product inventories totaled 7.8 million cubic metres, 27.8% below the same month a year earlier.

All major product categories posted a draw on inventories led by the 'Other' products category - mainly composed of unfinished products.