Analysis – September 2010
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Domestic sales of refined petroleum products in September 2010 totalled 9.2 million cubic metres, 849.3 thousand cubic metres (+10.1%) above the same month a year earlier.
On a year-to-date basis refined petroleum product sales were 10.0% higher than the same 9 months a year earlier.
The September 2010 increase in sales was for the most part driven by a 325.7 thousand cubic metre (+13.9) increase in demand for diesel fuel oil. Motor gasoline also registered an increase up 218.8 thousand cubic metres (+6.0%) from September 2009.
Refineries produced 9.9 million cubic metres of product in September 2010, 1.3 million cubic metres (16.1%) more than the same month a year earlier. All major petroleum products posted increases with the exception of the 'Other products' category composed of mainly unfinished products.
Crude oil receipts by refineries totalled 8.1 million cubic metres, up 434.6 thousand cubic metres (+5.7%) from September 2009.
Receipts of domestic crude oils totalled 4.5 million cubic metres, up 95.1 thousand cubic metres (+2.1%) from the same month a year earlier. Western Canadian crude oil supplies accounted for about 81% of these receipts with the remainder originating from domestic offshore production.
Refineries took 339.4 thousand cubic metres (+10.5) more imported crude oils in September 2010 than the same month a year earlier. Imports totalled 3.6 million cubic metres representing about 44% of total crude oil requirements.
OPEC crude oils accounted for about 51% of total crude oil imports. Saudi Arabia, Angola and Algeria were the largest OPEC suppliers. North Sea producers supplied an additional 12% of imports. Other non-OPEC suppliers included Russia (6%), Mexico (6%) and the U.S.A (3%).
Crude oil and refined petroleum product inventories held by refineries and major distributors closed September 2010 at 11.1 million cubic metres, 2.4 million cubic metres (-18.0%) below the same month a year earlier.
Refined petroleum product inventories totaled 8.4 million cubic metres, 1.9 million cubic metres (-18.7%) below September 2009. Motor gasoline and diesel fuel oil were the only major product categories to post a significant build in inventories.
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