Analysis – August 2010

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Domestic sales of refined petroleum products in August 2010 totalled 9.9 million cubic metres, 1.2 million cubic metres (+13.6%) higher than August the previous year.

January to August 2010 domestic sales of petroleum products were up 6.4 million cubic metres (+10.0 %) compared to the same eight month period in 2009.

Motor gasoline sales totalled 4.1 million cubic metres 398.8 thousand cubic metres (+10.6%) higher than August 2009. Diesel fuel oil sales totalled 2.8 million cubic metres 558.6 thousand cubic metres (+24.4 %) higher than a year earlier.

Refinery production in August 2010 totalled 10.5 million cubic metres 336.2 thousand cubic metres (+3.3%) above August 2009.

Deliveries of crude oils to domestic refineries totalled 9.4 million cubic metres 833.1 thousand cubic metres (+9.7%) above August 2009.

Refinery receipts of domestic crude oils totalled 4.9 million cubic metres 576.1 thousand cubic metres (+13.2 %) higher than a year earlier.

Crude oil imports totalled 4.5 million cubic metres 257.1 thousand cubic metres (+6.1%) above August 2009. Imports represented 47.5% of total refinery requirements.

OPEC sources led by Nigeria and Algeria accounted for 45.2% of foreign supply. Supply from the North Sea area accounted for 27.4%.

Crude oil and refined petroleum product inventories held by refineries and major distributors closed August 2010 at 11.5 million cubic metres.

Petroleum product inventories totaled 8.3 million cubic metres.

Most major product categories posted a draw on inventories. Motor gasoline was the only major product to post an increase in inventories compared to the close of August 2009.