January 31, 2018 / 9:16 AM / 8 months ago

UPDATE 1-Japan's total oil sales fell to 48-year low in 2017

    * 2017 total oil sales fall to 3.02 mln bpd, lowest since
1969
    * Dec total oil sales lowest for the month in 48 years
    * Dec crude imports fall 2.4 pct yr/yr to 3.53 mln bpd

 (Adds tables, details)
    TOKYO, Jan 31 (Reuters) - Japan's total oil sales fell to a
48-year low in 2017, trade ministry data showed on Wednesday,
amid a continued decline in consumption due to a shrinking and
ageing population and a shift to alternatives such as natural
gas.
    Total oil sales in 2017 fell 1.5 percent from a year earlier
to 175.51 million kilolitres, or 3.02 million barrels per day
(bpd), last year, monthly data from the Ministry of Economy,
Trade and Industry (METI) showed.
    Japan's crude oil imports last year also fell 2.6 percent
from a year earlier to 187.64 million kilolitres, or 3.23
million bpd, the lowest since 1987, said two METI officials. 
    In December, total oil sales fell by 0.6 percent to a
48-year low of 3.52 million bpd, or 17.36 million kilolitres,
while crude imports also declined by 2.4 percent to a 48-year
low of 3.53 million bpd.
    Japan imported Mubarraz crude from the United Arab Emirates
for the first time last month, while it also shipped in North
West Shelf condensate from Australia for the first time since
January 2013, the METI officials said.
    Cosmo Oil, which started production from the Middle East
producer's Hail oilfield in November, last month imported
Mubarraz crude, which mixed oil from Hail with oil from existing
Abu Dhabi fields.
    Japan's imports of Iranian crude fell 11.2 percent from a
year earlier at 218,757 bpd, data also showed.
    The following table shows Japan's crude imports and oil
product sales in barrels per day.
    
   Product/Volume      Dec          Nov       M/M(%)    Yr/Yr(%)
    Crude Imports   3,525,588    3,325,922       6.0        -2.4
 Crude Throughput   3,405,863    3,249,517       4.8        -3.9
     Direct crude                                               
             burn                                     
      Oil product   3,522,064    3,167,516      11.2        -0.6
            sales                                     
         gasoline     944,703      892,626       5.8        -0.7
         kerosene     585,905      369,105      58.7         8.3
          naphtha     823,429      829,143      -0.7        -2.0
      Oil product     659,087      602,606       9.4         7.0
          imports                                     
         gasoline      24,203       23,248       4.1            
         kerosene      99,426                                   
          naphtha     491,330      507,828      -3.2        11.3
      Oil product     636,760      555,884      14.5        18.5
          exports                                     
         gasoline     115,785       67,026      72.7        72.2
         kerosene      26,124       20,587      26.9        12.0
         jet fuel     138,505      155,361     -10.8       -11.0
          gas oil     187,715      147,348      27.4        29.6
    fuel oil B, C     138,307      135,923       1.8         7.5
  Refinery Output   3,288,420    3,108,865       5.8        -2.5
         gasoline     972,062      954,119       1.9        -2.3
         kerosene     409,440      324,048      26.4        -2.7
          naphtha     316,002      348,198      -9.2       -19.8
         jet fuel     199,100      224,407     -11.3        -9.4
          gas oil     778,120      725,887       7.2         8.2
        Month end      Dec          Nov       M/M(%)    Yr/Yr(%)
        Inventory                                     
            Crude         87.5         84.0      4.2        -1.5
         Products         56.9         64.1    -11.2        -2.4
         gasoline          9.4         11.0    -14.0        -2.7
         kerosene         12.4         15.5    -19.8         0.3
     Refinery run          Dec          Nov  M/M(pt)   Yr/Yr(pt)
             rate                                     
              (%)         96.7         92.2      4.5         3.3
 
 (Reporting by Osamu Tsukimori; Editing by Sunil Nair and
Christian Schmollinger)
  
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