Analysis – September 2011
Domestic sales of refined petroleum products in September 2011 totalled 9.0 million cubic metres, 80.6 thousand cubic metres (-0.9%) below the same month a year earlier.
On a year-to-date basis refined petroleum product sales were 3.0% higher than the same 9 months a year earlier.
The September 2011 increase in sales was driven by a 228.2 thousand cubic metre (+8.7) increase in demand for diesel fuel oil. Motor gasoline registered a decrease of 215.0 thousand cubic metres (-5.6%) from September 2010.
Refineries produced 9.5 million cubic metres of product in September 2011, 405.1 thousand cubic metre (-4.1%) less than the same month a year earlier. Eleven of the refined petroleum products posted decreases in September 2011 when compared to the same month in 2010.
Crude oil receipts by refineries totalled 8.2 million cubic metres, up 23.3 thousand cubic metres (+0.3%) from September 2010.
Receipts of domestic crude oils totalled 5.1 million cubic metres, up 155.1 thousand cubic metres (+3.2%) from the same month a year earlier. Western Canadian crude oil supplies accounted for about 89% of these receipts with the remainder originating from domestic offshore production.
Refineries took 131.8 thousand cubic metres (-4.1) less imported crude oils in September 2011 than the same month a year earlier. Imports totalled 3.1 million cubic metres representing about 38.0% of total crude oil requirements.
OPEC crude oils accounted for 52.7% of total crude oil imports. Saudi Arabia, Angola and Algeria were the largest OPEC suppliers. North Sea producers supplied an additional 15.3% of imports. Other non-OPEC suppliers included Mexico (4.2%), Columbia (2.4%), and the U.S.A (1.4%).
Crude oil and refined petroleum product inventories held by refineries and major distributors closed September 2011 at 11.1 million cubic metres, 7.1 thousand cubic metres (+0.1%) above the same month a year earlier.
Refined petroleum product inventories totaled 8.6 million cubic metres, 273.0 thousand cubic metres (+3.3%) above September 2010.
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