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• For a country which has been a net oil importer since 2009, with net imports averaging 200,000 b/d for 2016-17 (MEES, 9 March), Egypt’s crude export volumes have been surprisingly robust.
• Of the country’s 629,000 b/d of 2017 crude and condensate output, some 202,000 b/d was exported. Of this almost half (48.8%) went to Europe, with Germany, Spain, Italy, Greece and France taking the lion’s share of those volumes.
• The top destination though was India, which took 43,000 b/d, followed by China with 41,000 b/d, more than triple 2016’s 13,000 b/d. This saw Asia’s share of Egyptian exports hit a record 44.1% in 2017 with Indonesia also taking the occasional cargo. (CONTINUED - 249 WORDS)
DATA INSIDE THIS ARTICLE
|chart||Egypt Crude Exports ('000 B/D): More Volumes Heading To Asia At The Expense Of Europe, China Volumes More Than Triple In 2017|