Gulf Oil and Gas accountACCOUNT

Japan Stock Movements

Source: OPEC 7/21/2013, Location: Asia

In May, total commercial oil stocks in Japan remained unchanged following a build during last two months and ended the month at 169.4 mb. As this level, they are 7.6 mb or 4.3% below a year ago at the same period, and they stood at 8.7 mb or 4.9% lower than the last five-year average. Within the components, crude saw a build of 2.3 mb in May, while products fell by almost the same amount.

Japanese commercial crude oil stocks saw a build of 2.3 mb in May for the third consecutive month to stand at 101.4 mb. Despite this build, they are still 6.1 mb or 5.7% below a year ago at the same time and 3.2 mb or 3.0% below the five-year average. The build in crude oil stocks in May was driven by lower crude throughputs.

Indeed, crude inputs to refinery declined by 386,000 b/d to average 3.1 mb/d. In May, Japanís refineries were running at 69%, around 8.6 pp lower than in the previous month and 1.4 pp less than the same period last year. The decline in crude imports, which fell by around 309,000 b/d or 8.4%, averaging 3.4 mb/d, limited a further buld in stocks. At this level, they are also 5.4% lower than May 2012 Direct crude burning in power plants rose in April by 21.0% to end the month of May at around 235,507 b/d, but this is almost 24% less than the same period last year.

On the product side, Japanís total product inventories saw a drop of 2.3 mb, reversing the build of last month and ended May at 68.0 mb. At this level, they indicated a deficit of 1.5 mb or 2.1% with a year ago and they are 5.6 mb or 7.6% lower than the five-year average. The decline of 6.2% in refinery output in May was behind the decline in product stocks, however, lower Japanese total oil product sales, which fell by 6.6% from a month earlier to average of 3.1 mb/d, limited a further drop in product stocks. Within products, the picture was mixed: distillates and residual fuel oil saw a decrease, while naphtha witnessed builds. Gasoline stocks remained unchanged in May from the previous month.

Distillate stocks fell by 2.1 mb, ending the month of May at 27.5 mb. At this level, they are 2.3 mb or 7.6% below a year ago and 3.0 mb or 9.9% above the seasonal average. Within distillate components, jet fuel oil and gasoil stocks fell, while kerosene stocks went up. Kerosene inventories rose by 1.9% driven by lower domestic sales, which declined by almost 30%, while lower output limited a further build in kerosene stocks. Jet fuel fell by 12% on the back of lower production. Gasoil stocks also fell by 12.2%, reflecting lower output, which declined by 1.4%. Higher domestic sales also contributed to the drop in gasoil inventories.

In contrast, naphtha stocks rose by 0.6 mb to finish May at 11.0 mb. At this level, they represent a surplus of 2.2 mb or 24.8% over a year ago, and 0.3 mb or 3.2% above the seasonal norm. The build in naphtha stocks came from lower domestic sales as they declined by 5.7%. The increase of 16% in imports also contributed to this build. Total residual fuel oil stocks went down by 0.8 mb to end the month of May at 15.3 mb. At this level, they were 9.2% less than a year ago and 14.6% lower than the five-year average. Fuel oil A inventories fell by 10.2%, while fuel oil B.C fell by 8.6%. The fall in the two components of fuel oil stocks came on the back of lower outputs.

Gasoline stocks remained unchanged in May, ending the month at 14.3 mb. At this level, they are 1.0% above the same time last year, but they are still 2.0% less than the five-year average. Higher production was offset by increasing domestic sales, leading to an unchanged stock level in May versus April.

Financials and Investment News in Japan >>

Bermuda >>  2/17/2020 - Borr Drilling Limited has entered into a new financing arrangement for the newbuild jack-up rig Tivar, scheduled to be delivered from the yard in July...
Ireland >>  2/17/2020 - Lansdowne Oil & Gas plc has raised £488,000 by way of a placing of 81,333,333 new ordinary shares of 0.1 pence each (the "Placing Shares") with existi...

Bahamas >>  2/14/2020 - Bahamas Petroleum Company, the oil and gas exploration company with significant prospective resources in licences in The Commonwealth of The Bahamas, ...
United States >>  2/14/2020 - Mosman Oil and Gas Limited the oil exploration, development and production company, announces that the Company has raised £300,000 (before expenses) (...

United States >>  2/12/2020 - TGS reported net segment revenues of USD 232 million for Q4 2019, a growth of 23% compared to USD 188 million in Q4 2018. The strong performance was m...
United Kingdom >>  2/10/2020 - InfraStrata, the UK quoted company focused on strategic infrastructure projects and physical asset life-cycle management, is pleased to announce that ...

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 


Japan Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 |

More News

Related Links

Gulf Oil and Gas
Copyright © 2020 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.