Analysis – October 2010
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Domestic sales of refined petroleum products in October 2010 totalled 9.2 million cubic metres, 1.2 million cubic metres (+14.2%) above the same month a year earlier. Motor gasoline and diesel fuel oil accounted for about 72% of total product sales. Demand for diesel fuel oil remained strong, up 482.7 thousand cubic metres (+20.8%) from October 2009. Motor gasoline sales were 267.9 thousand cubic metres (+7.4%) higher than the same month a year earlier Year-to-date total product sales were 10.5% above the same period in 2009.
In October 2010 refineries produced 9.3 million cubic metres of petroleum product, 271.5 thousand cubic metres (+3.0%) above the same month a year earlier. Motor gasoline production was up 36.8 thousand cubic metres (+1.1%). Diesel fuel oil production remained strong up 286.7 thousand cubic metres (+12.2%) from a year earlier. Year-to-date total production was up 3.6% above the same period in 2009.
Crude oil and equivalent receipts by Canadian refineries totalled 8.3 million cubic metres in October 2010, 281.3 thousand cubic metres (+3.5%) higher than the same month a year earlier. About 54% of these receipts were composed of conventional light crude oils. Synthetic crude oil and conventional heavy accounted for about 25% and 15% respectively. Of this volume, domestic crude oils totalled 5.2 million cubic metres, up 737.1 thousand cubic metres (+16.5%) from a year earlier. Western Canada crude oils accounted for about 90% with the remainder originating from domestic offshore production.
Refiners took 3.1 million cubic metres of imported crude oil in October 2010, down 455.8 thousand cubic metres (-13.0%) from the same month a year earlier. Imports represented nearly 37% of total refiner receipts. OPEC crude oils accounted for about 44% of total imports. Angola, Saudi Arabia and Nigeria were the largest OPEC suppliers. Norway and the United Kingdom supplied an additional 19% of the imports. Year-to-date imports were down 4.2% from the same period in 2009.
Crude oil and refined petroleum product inventories held by refineries and major distributors closed in October 2010 at 11.1 million cubic metres, 2.5 million cubic metres (-18.5%) below a year earlier. Of this volume, refined petroleum products inventories totaled 8.0 million cubic metres, 2.3 million cubic metres (-22.4%) below October 2009 level.
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