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SSY News
JAPANESE & SOUTH KOREAN CRUDE IMPORTS FALL |
05-02-2010 |
Japan has lost its position as Asia’s largest importer of crude, as average imports for 2009 fell by 12.7% year on year to 3.65 mbpd, reports Energy Intel. The fall was compounded by average imports in December of 4.06 mbpd, a 2.6% decline from November’s volumes. The declines can be attributed to a fall in domestic sales of petroleum products which averaged 3.33 mbpd last year, 6.9% less than in 2008.
Last year’s South Korean crude imports were down 3.3% year on year and averaged 2.29 mbpd. December’s volumes fell 5.9% from November and arrived at a rate of 2.28 mbpd. Refinery utilisation fell to 80.5% last year from 82.8% in 2008.
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