Table of Contents Table of Contents
Previous Page  82 / 106 Next Page
Information
Show Menu
Previous Page 82 / 106 Next Page
Page Background

Oil Trade

74

OPEC Monthly Oil Market Report – October 2017

India’s product exports

were higher in August by 63 tb/d, or 5%, to average 1.5 mb/d. On a y-o-y basis,

they were lower than last year by 71 tb/d, or 5%. India’s monthly product exports reached their highest level

since March 2017. Higher volumes of diesel oil are the main reason behind the rise; figures were up by

151 tb/d from a month before.

Graph 8 - 8: India’s exports of petroleum products

Consequently,

India’s net imports

increased by 69 tb/d to average 3.6 mb/d, reflecting an increase of 2%

m-o-m and a drop of 5% y-o-y.

Table 8 - 4: India’s crude and product net imports, tb/d

FSU

In August,

total crude oil exports

from the former Soviet Union (FSU) rose by 243 tb/d, or 4%, to average

6.8 mb/d. Crude exports through the Russian pipeline rose by 248 tb/d, or 7%, to average 4 mb/d.

Total shipments from the

Black Sea

rose by 56 tb/d, or 10%, to average 631 tb/d. This drop came as

shipments from Novorossiysk were lower than a month before.

Total

Baltic Sea

exports increased by 68 tb/d in August, as shipments from both Primorsk and Ust Luga port

terminals increased, by 22 tb/d and 46 tb/d, respectively.

Druzhba

pipeline total shipments increased from the previous month’s levels to average 1.1 m/d, up by

123 tb/d, while

Kozmino

shipments stayed flat, averaging 671 tb/d.

Exports through the

Lukoil System

rose from the previous month in the Barents Sea, where Varandey

offshore platform exports increased by 22 tb/d. Baltic Sea exports through Kalinigrad port terminal showed a

slight increase over July volumes.

In other routes,

Russia Far East total exports

were down by 51 tb/d from the previous month, as volumes

from De Kastri and Aniva bay port terminals both dropped.

0

200

400

600

800

1,000

1,200

1,400

1,600

1,800

0

200

400

600

800

1,000

1,200

1,400

1,600

1,800

Aug 16

Sep 16

Oct 16

Nov 16

Dec 16

Jan 17

Feb 17

Mar 17

Apr 17

May 17

Jun 17

Jul 17

Aug 17

tb/d

tb/d

Others

Naphtha

Gasoline

Jet Fuel

Gasoil

Fuel Oil

Sources: Petroleum Planning & Analysis Cell of India and OPEC Secretariat.

Change

Jun 17

Jul 17

Aug 17 Aug 17/Jul 17

Crude oil

4,311

4,090

4,278

188

Total products

-543

-525

-644

-119

Total crude and products

3,767

3,565

3,634

69

Note: India data table does not include information for crude import and product export by Reliance Industries.

Sources: Petroleum Planning & Analysis Cell of India and OPEC Secretariat.