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 Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter April 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Tanker Trends

Tanker Departs Libya Empty amid Political Crisis

A tanker that an oil company set up by Libya's eastern government prevented from loading has left the eastern port of Marsa el-Hariga, a port official said on Wednesday.

Libya Eastern Oil Company Blocks Tanker Loading Crude for Tripoli Rival

An oil company set up by Libya's eastern government is preventing a tanker from loading a cargo for its Tripoli rival, the National Oil Corporation (NOC), officials said on Tuesday.

Pirates Switch to Kidnapping Crew as Oil Fetches Less

Pirate gangs in West Africa are switching to kidnapping sailors and demanding ransom rather than stealing oil cargoes as low oil prices have made crude harder to sell and less profitable,

News

Bureau Veritas Acquires TMC Marine

Bureau Veritas has acquired international consultancy TMC Marine Ltd.    TMC has provided pre- and post-casualty advice and support to the marine industry since 1979.

Harley Marine Orders Two Harbor Tugs

Harley Marine Services announced the construction of two new ship handling vessels to be built at Diversified Marine in Portland, Ore. The two tugs are sister class

Sipu Muin Modernization Work to Begin in May

Canadian Coast Guard plans upgrades for Air Cushion Vehicle   A scheduled modernization of the Canadian Coast Guard CCGS Sipu Muin will see the Air Cushion Vehicle

 
 
Maritime Contracts Maritime Security Maritime Standards Naval Architecture Navigation Pod Propulsion Salvage Ship Repair Sonar Winch
rss | archive | history | articles | privacy | 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: 0.0848 sec (12 req/sec)