Not Logged In, Login,

Friday, December 15, 2017

Europe increasing crude imports from the Former Soviet Union at the expense of Middle Eastern and African crudes

Based on figures from the International Energy Agency (IEA), Europe continues to increase crude oil imports from the Former Soviet Union (FSU).

Since 1998 European crude oil imports from the FSU have doubled to 4.1 mbd in the first part of 2004. Over the same period imports from the Middle East have declined from 4.2 mbd in 1998 to 2.7 mbd in 2004, imports from Africa have declined from 3.7 mbd in 1998 to 3.1 mbd in 2004, and crude oil imports from the Americas have declined from 0.4 mbd in 1998 to 0.2 mbd in 2004.

It has been reported that Russia is aiming to increase crude oil exports to the U.S., but according to the IEA figures up to May, North America actually reduced imports from the FSU from 0.15 and 0.19 mbd in 2002 and 2003 to 0.14 mbd in 2004.