Analysis – December 2010
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Domestic sales of refined petroleum products in December 2010 totalled 9.3 million cubic metres, up 1.0 million cubic metres (+12.2%) to 8.4 million cubic metres from the same month a year earlier. Motor gasoline sales increased 155.9 thousand cubic metres (+4.3%) and diesel fuel oil sales increased 310.1 thousand cubic metres (+13.7%).
Refineries produced 10.3 million cubic metres of product in December 2010, showing a slight decrease (-0.1%) above the same month a year earlier. Four of the seven major petroleum products posted decreases in December 2010. The largest decrease was in motor gasoline production was down 248.6 thousand cubic metres (-6.3%) compared to December 2009. The largest increase was reported in diesel up 134.5 thousand cubic metres (+5.6%).
Crude oil receipts by domestic refineries totalled 9.1 million cubic metres, up 276.6 thousand cubic metres (+3.1%) from the same month a year earlier. Receipts of domestic crude oils totalled 5.2 million cubic metres, up 735.1 thousand cubic metres (+16.6%). Western Canadian crude oils accounted for about 91.7% of receipts of domestic crude oils with the remainder originating from domestic offshore production.
The increase in receipts of domestic crude oils in December 2010 offset a decrease of 458.5 thousand cubic metres (-10.5%) in imported crude oils compared to the same month a year earlier. Imports totalled 3.9 million cubic metres and represented 43% of total crude oil receipts by domestic refiners.
OPEC crude oils accounted for 51.6% of crude oil imports in December 2010. Algeria, Saudi Arabia and Iraq were the largest OPEC suppliers. North Sea producers (Norway and the United Kingdom) supplied an additional 21.4% of total imports.
Crude oil and refined petroleum product inventories held by refineries and major distributors closed December 2010 at 12.0 million cubic metres, 1.6 million cubic metres (-11.8%) less than the same month a year earlier.
Product inventories totaled 8.7 million cubic metres, 1.8 million cubic metres (-17.1%) below December 2009. Crude oil inventories closed the month at 3.3 million cubic metres, up 6.4%.
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