Germany Q1 Crude Imports: Libya Boost Raises OPEC Share

• Russia remained the dominant supplier of crude oil to Germany in the first quarter of 2017 according to the latest imports figures (see table), but the Opec share was up year-on-year, boosted by an increase in supplies from Libya.

• An average 705,000 b/d of crude arrived in Germany from Russia in the first quarter, just shy of 40% of total receipts of 1.80mn b/d. Libya was the leading contributor from the Mena region, with 109,000 b/d, or 6% of the total, with only Russia, Norway, the UK and Kazakhstan providing more imports.

• Germany’s imports from Libya in the first quarter doubled from an average 55,000 b/d in 4Q16, and were up more than 150% from 42,800 b/d compared to the first three months of 2016 as the country’s overall output continues its tentative, albeit halting, recovery (see p12). (CONTINUED - 388 WORDS)


chart German Crude Imports: Libya Vs Algeria (‘000 B/D)
table Germany Crude Oil Imports (‘000 B/D): Russia Still Dominant In Q1 Despite Libya Resurgence