Gulf Oil and Gas accountACCOUNT

EU plus Norway Stock Movements - May 2017

Source: OPEC 5/17/2017, Location: Europe

Share |
Preliminary data for March shows that total European stocks rose slightly by 0.6 mb following a build of 20.0 mb in February. At 1,159.2 mb, European stocks were 5.1 mb, or 0.4%, lower than the same time a year ago, but remained 58.3 mb, or 5.3%, higher than the latest five-year average. Crude stocks remained unchanged, while total product stocks rose by 0.6 mb, m-o-m.

European crude inventories remained unchanged in March to stand at 486.4 mb, which is 0.4 mb, or 0.1%, higher than the same period a year ago. Comparing to the seasonal average, they were 13.7 mb, or 2.9%, higher. The decline of crude throughput offset the increase in North Sea production, leading to almost a flat level in European inventories. Preliminary data indicates that European refiners were running at around 10.3 mb/d in March, about 20 tb/d lower than the same period one year ago.

By contrast, European product stocks rose by 0.6 mb, ending March at 673 mb, which is 5.5 mb, or 0.8%, lower than the same time a year ago but still 44.6 mb, or 7.1%, above the seasonal norm. Within products, distillate and naphtha stocks rose, while gasoline and residual fuel oil inventories witnessed draws.

Distillate stocks rose by 1.0 mb in March to end the month at 453.0 mb, which is 6.7 mb, or 1.5%, higher than the same time a year ago, and 54.6 mb, or 13.7%, above the latest five-year average. The build was driven mainly by lower demand in March compared to January. In contrast, gasoline stocks fell by 0.9 mb in March to stand at 123.9 mb, which is 0.4 mb, or 0.3%, higher than the same time one year ago, and 6.1 mb, or 5.2%, higher than the seasonal norm. The fall in gasoline stocks was mainly driven by lower output. Residual fuel oil stocks also fell by 0.3 mb in March to stand at 70.4 mb, which is 12.5 mb, or 15.0%, less than the same month a year ago, and 11.0 mb, or 13.5%, lower than the latest five-year average.

Investment News in Norway >>

Norway >>  4/13/2018 - Johan Castberg, Polarled, Aasta Hansteen, Snefrid Nord, Askeladd and the exploration campaign in the Barents Sea; multi-billion investments are lined ...
United Arab Emirates >>  4/11/2018 - Abu Dhabi National Oil Co (ADNOC) is in talks with several partners, including Saudi Aramco, for possible downstream joint ventures abroad, particular...

Saudi Arabia >>  4/10/2018 - Saudi Aramco participated in the Saudi-France CEO Forum held in Paris to promote bilateral business and cooperation between the two countries. The For...
Singapore >>  4/10/2018 - KBR, Inc. (KBR) announced it will continue to grow its business in Singapore. Supported by the Singapore Economic Development Board (EDB), KBR will de...

United Arab Emirates >>  4/2/2018 - The MENA region has already committed US$345 billion to critical energy projects under execution while an additional $574bn worth of development is pl...
Mauritania >>  3/28/2018 - The World Bank approved on March 16th, a $20 million International Development Association (IDA)* grant to Mauritania to enhance the country’s capacit...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Norway Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 |

More News

 

Oil & Gas Companies in Norway >>


Related Links

Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Privacy Policy.