Tokyo — Japan was a net oil product importer in 2018 for the second consecutive year, with imports of gasoline and gasoil both more than doubling, preliminary data released Thursday by the Ministry of Economy, Trade and Industry showed.
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Japan imported an average of 622,246 b/d of
Japan's import of oil products in 2018, while oil product exports averaged 523,141 b/d.
Naphtha accounted for the vast majority of Japan's oil product imports and were more or less unchanged year on year at 488,178 b/d, but imports of gasoline doubled year on year to 35,947 b/d last year while gasoil imports averaged at 12,499 b/d, up from 5,564 b/d.
Japan's import of oil products increased in 2018 due in part to a relatively heavy refinery turnaround season over the spring-summer period.
METI publishes its data in kiloliters, which S&P Global Platts converts to barrels using a rate of 6.2898.
Platts also takes into account revisions made by METI to data published in previous months.
JAPAN'S OIL PRODUCT IMPORTS IN DECEMBER (b/d)
|Dec-18||Dec-17||% Change||Nov-18||% Change|
|Fuel Oil A||n/a||n/a||-100||2,374||-100.0|
|Fuel Oil B, C||23,557||26,922||-12.5||29,606||-20.4|
JAPAN'S OIL PRODUCT IMPORTS IN JANUARY-DECEMBER (b/d)
|Jan-Dec 2018||Jan-Dec 2017||% chg on year|
|Fuel Oil A||1,233||1,332||-7.4|
|Fuel Oil B, C||42,275||36,477||15.9|
Source: Ministry of Economy, Trade and Industry
(Corrects Jan 31 story after METI issued revised numbers Feb 4)
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-- Edited by Jonathan Dart, email@example.com
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