Canada Crude Imports Slip as Imports from US Grows

Posted by Eric Haun
Thursday, July 03, 2014

Imports of crude oil into Canada fell to a one-year low in May despite a continued climb in imports from the United States, Statistics Canada data showed on Thursday.

Canada imported 16.6 million barrels in May, or around 535,000 barrels per day (bpd), from around the world, with the United States as the top supplier, followed by Norway.

This compares with April imports of 17.5 million barrels, or some 583,000 bpd, and May 2013 imports of 14.3 million barrels, or around 461,000 barrels per day.

While imports from a number of countries increased, including the United States, Norway and Egypt, imports from the United Kingdom, Algeria, Nigeria and Mexico mostly dropped off.

Canada has the world's third-largest crude reserves after Saudi Arabia and Venezuela and produces around 4.3 million barrels per day, but still imports crude because of limited pipeline access from the main oil-producing regions in Western Canada to some eastern refineries.

From the United States, Canada imported some 8.4 million barrels in May, or 271,000 bpd. That's a 3.2 percent increase from the 8.1 million barrels in April and more than double the 4 million barrels imported in May 2013.

Crude exports are restricted in the United States under a decades-old legislation, but companies are allowed to apply for licenses to sell oil to Canada.

Statistics Canada data showed that imports from Texas continued to remain as the biggest exported by state of U.S. crude to Canada for the sixth month in a row, although the number of barrels fell to 4.3 million in May, down from the 4.4 million imported the month prior.

Imports from North Dakota also slipped to 2.9 million barrels from 3.1 million barrels the month prior.

(Reporting By Catherine Ngai; Editing by Chizu Nomiyama)

Maritime Reporter October 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Energy

EU Regs on Ship CO2 Reporting Complicates IMO Agreement

ICS Concerned that EU will Preempt IMO CO2 Negotiations.   The global trade association for shipowners – the International Chamber of Shipping (ICS) – is disappointed

Asia VLCC Rates Could Could Climb Even More

Owners see rates climb by nearly $22,000 per day; Rates could peak as more tonnage comes free. Rates for very large crude carriers (VLCCs) on key Asian routes

New Players in Singapore Markets in OW's Absence

The downfall of a leading marine fuel supplier that prompted sellers to tighten credit terms in Singapore is skewing the post-OW Bunker jostle for market share

News

EU Regs on Ship CO2 Reporting Complicates IMO Agreement

ICS Concerned that EU will Preempt IMO CO2 Negotiations.   The global trade association for shipowners – the International Chamber of Shipping (ICS) – is disappointed

World’s Largest Boxship is DNV GL classed

CSCL Globe, the world’s largest containership and the first of a series of five 19,100 TEU containerships ordered by China Shipping Container Lines (CSCL) in 2013,

New Players in Singapore Markets in OW's Absence

The downfall of a leading marine fuel supplier that prompted sellers to tighten credit terms in Singapore is skewing the post-OW Bunker jostle for market share

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Navigation Pipelines Pod Propulsion Salvage Ship Electronics Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1204 sec (8 req/sec)