Analysis – June 2011

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Domestic sales of refined petroleum products in June 2011 totalled 9.2 million cubic metres, slightly higher than June 2010 (2.2 %). Sales were up in nine of the seventeen product categories.

Motor gasoline sales totalled 3.8 million cubic metres 50.3 thousand cubic metres (+1.3%) higher than June 2010. Diesel fuel oil sales totalled 2.5 million cubic metres 100.4 (+4.1%) thousand cubic metres higher than a year earlier.

About 89% of motor gasoline was sold at the retail pump in June 2011. Regular unleaded gasoline accounted for 90.7% of the total domestic sales in June 2010.

Refinery production in June 2011 totalled 8.7 million cubic metres 1.2 million cubic metres (-12.5%) below June 2010.

Deliveries of crude oils to domestic refineries totalled 4.8 million cubic metres, 430.9 thousand cubic metres (-8.3%) below the same month a year earlier. A reduction in the delivery of foreign supplies resulted in a decrease of 809.3 thousand cubic metre (-23.6%) in the receipts of imported crude oils.

Crude oil imports represented 35.5% of domestic refinery requirements. OPEC sources led by Nigeria Angola and Algeria accounted for 58.0% of this requirement and the North Sea, comprised of UK and Norway, accounted for another 21.6%.

Crude oil and refined petroleum product inventories held by refineries and major distributors closed June 2011 at 11.7 million cubic metres 6.2% above June 2010.

Petroleum product inventories totaled 8.3 million cubic metres, 2.1% above the same month a year earlier.