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185982
Thu, 06/02/2011 - 07:25
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https://oananews.org//node/185982
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S. Korea's oil product exports jump 74 pct in April
SEOUL, June 2 (Yonhap) -- South Korean exports of refined oil products shot up 74 percent on-year in April, mainly fueled by shipments to Japan and other Asian countries, the government said Thursday.
The Ministry of Knowledge Economy said overseas shipments of such products as diesel, gasoline, jet fuel, kerosene, naphtha and Bunker-C oil topped US$5.15 billion in April, compared with $2.96 billion a year earlier. The April figure was also up 11.3 percent from $4.62 billion in March.
The export volume reached 40.38 million barrels in April, up 22.7 percent from 32.90 million barrels a year earlier.
"The March 11 earthquake that disrupted operations at three of Japan's 28 oil refineries triggered a surge in demand from the island nation as well as other parts of Asia that had previously imported oil products from Japanese refineries," the ministry said. The record quake caused Japanese oil refining capacity to fall by around 14 percent.
Exports to Japan soared 149.2 percent on-year in April to 7.04 million barrels, making it the second-largest overseas buyer of South Korean refined petroleum products after Singapore.
The ministry said exports to other Asian countries such as Singapore and Taiwan rose 183.8 percent and 260.9 percent each, with numbers for China, Hong Kong and Vietnam all growing by double digits.
"Total export volume is equal to 59 percent of the $8.7 billion worth of crude oil purchased by the country," the ministry said.
Domestic consumption of petroleum products, meanwhile, reached 57.26 million barrels in April, down 12.7 percent from a year earlier, the ministry reported.
The Ministry of Knowledge Economy said overseas shipments of such products as diesel, gasoline, jet fuel, kerosene, naphtha and Bunker-C oil topped US$5.15 billion in April, compared with $2.96 billion a year earlier. The April figure was also up 11.3 percent from $4.62 billion in March.
The export volume reached 40.38 million barrels in April, up 22.7 percent from 32.90 million barrels a year earlier.
"The March 11 earthquake that disrupted operations at three of Japan's 28 oil refineries triggered a surge in demand from the island nation as well as other parts of Asia that had previously imported oil products from Japanese refineries," the ministry said. The record quake caused Japanese oil refining capacity to fall by around 14 percent.
Exports to Japan soared 149.2 percent on-year in April to 7.04 million barrels, making it the second-largest overseas buyer of South Korean refined petroleum products after Singapore.
The ministry said exports to other Asian countries such as Singapore and Taiwan rose 183.8 percent and 260.9 percent each, with numbers for China, Hong Kong and Vietnam all growing by double digits.
"Total export volume is equal to 59 percent of the $8.7 billion worth of crude oil purchased by the country," the ministry said.
Domestic consumption of petroleum products, meanwhile, reached 57.26 million barrels in April, down 12.7 percent from a year earlier, the ministry reported.