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Japan's July crude imports fall 2.7% on year to 3.32 mil b/d: MOF

Increase font size  Decrease font size Date:2014-08-21   Views:447
Japan imported 16.383 million kiloliters (3.32 million b/d) of crude oil on a CIF basis in July, down 2.7% from 16.830 million kl a year ago, preliminary figures released Wednesday by the Ministry of Finance showed.

The July total was, however, up 8.8% from 15.059 million kl in June, according to the data.

Crude imports over July 21-31 were 6.264 million kl, up 18.3% from 5.293 million kl in the year-ago period.

Japan's CIF crude price in July rose 1.3% month on month to Yen 71,420/kl ($111.62/barrel), from Yen 70,528/kl in June, MOF data showed.

The July crude import price was up 9.9% from Yen 65,001/kl a year ago, the data showed.

The dollar averaged Yen 101.73 in July, compared with Yen 101.97 in June and Yen 98.75 a year ago.

Both the MOF and the Ministry of Economy, Trade and Industry release data on Japan's monthly crude imports, but their figures vary due to differing accounting practices.

METI's data is based on monthly reports it gets from refiners and trading houses and takes into account barrels lifted during the period, including condensates.

The MOF data comprises crude cargoes cleared by customs. It excludes condensates but includes fuel oil used as refinery feedstock.

METI's monthly crude imports data for July is due to be released August 29.
 
 
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