August 8, 2017 / 10:57 AM / 2 years ago

TABLE-Iraq top oil exporter to India for fourth straight month

    NEW DELHI/SINGAPORE, Aug 8 (Reuters) - India's oil imports from Iraq rose 31.5 percent in
July from a month ago, shipping data showed, allowing the Middle Eastern country to retain the
top supplier spot for the fourth consecutive month amid declines from sellers like the United
Arab Emirates, Venezuela and Iran. 
    India took 954,400 barrels per day (bpd) of Iraqi oil in July compared with 725,800 bpd in
June, according to ship tracking data obtained from sources and data compiled by Thomson Reuters
Oil Research & Forecasts. 
    India's July imports from Iraq are also nearly 50 percent higher than volumes imported in
the same month last year, the data showed. 
    The spike in Iraqi imports comes amid a slump in Venezuelan crude shipments, which fell 31.1
percent from June to 337,100 bpd in July. Venezuelan crude exports have declined as it struggles
to secure the light oil needed to dilute its heavy crude grades for export.
    India is also diversifying its crude purchases as it plans to order about a quarter less
Iranian crude in the fiscal year to March 31, 2018, due to what it perceives as a snub over the
development of Iran's Farzad B gas field. 
    India's imports of Iranian crude fell 16.3 percent on the month to 414,900 bpd, and are down
20.7 percent from a year ago. Last month Reliance for the first time bought oil produced from
Iran's South Pars field, the data also showed. 
    Loadings of Iranian oil for India are likely drop to 310,000 bpd this month, the lowest
since February 2016, sources told Reuters last week. 
    To make up for the shortfall from Iran, Indian refiners have turned to the spot market and
picked up sour crude from Iraq and Russia among others to meet their demand. 
    India's Russian crude imports in July more than tripled to 148,600 bpd from a year ago. 
    
 Region/Count  July     June    %chg     July20  %chg    Jan-July  Jan-July  %Chg
 ry            2017     2017    mth/mth  16      yr/yr       2017      2016  yr/yr
 Latam                                                                       
 Brazil           92.9   169.0    -45.0     0.0      --     105.2      50.2    109.4
 Colombia          0.0     0.0      --      0.0      --       0.0       9.9     -100
 Ecuador          67.7     0.0      --      0.0      --      23.9       0.0     --
 Mexico              0    72.1     -100   142.6    -100     114.1      91.1     25.3
 Venezuela       337.1   488.9    -31.1   687.6     -51     404.9     514.3    -21.3
 TOTAL           497.6   729.9    -31.8   830.2   -40.1     648.1     665.5     -2.6
                                                                                    
 Asia                                                                               
 Brunei           17.5    18.4     -4.7     0.0      --      33.8      18.9     79.4
 Malaysia         79.3    81.2     -2.4     118   -32.8      72.5      94.6    -23.3
 Indonesia         0.0     0.0      --     21.0    -100       0.0      15.7     -100
 Australia         0.0     0.0      --      0.0      --       0.0       5.5     -100
 TOTAL            96.8    99.6     -2.8     139   -30.4     106.3     134.6      -21
                                                                                    
 Middle East                                                                        
 Oman             29.3    16.8     74.3     0.0      --       9.1      18.9    -52.1
 Iran            414.9   495.9    -16.3   523.1   -20.7     521.3     368.3     41.5
 Iraq            954.4   725.8     31.5   637.1    49.8     862.9     814.2        6
 Qatar            30.8    93.2      -67   229.8   -86.6      68.3       118    -42.2
 Kuwait          244.8   148.1     65.3   139.2    75.8     197.3     232.2      -15
 S. Arabia       888.4   662.6     34.1   933.5    -4.8       778     843.8     -7.8
 U.A.E.          234.7   416.7    -43.7   264.3   -11.2     301.1     326.5     -7.8
 Dubai             0.0     0.0      --      0.0      --       7.0       2.4    195.2
 TOTAL          2797.3  2559.1      9.3  2727.1     2.6    2744.8    2724.7      0.7
                                                                                    
 C.I.S.                                                                             
 Azerbaijan       83.5    33.0    152.5       0      --      36.1      45.9    -21.4
 Kazakhstan       64.1    65.8     -2.5       0      --      42.1       3.2   1235.2
 Russia          148.6   102.1     45.6    31.6   369.9      71.8       9.4    662.5
 TOTAL           296.2   200.9     47.5    31.6   836.7     150.1      58.5    156.6
                                                                                    
 Africa                                                                             
 Nigeria           471   345.5     36.3   264.2    78.3     409.9     405.9        1
 Angola          160.9   258.7    -37.8     134      20     133.3     119.8     11.2
 Cameroon            0       0      --     30.3    -100         0      27.7     -100
 Congo            20.5    19.2      6.6    17.8    14.8       5.7       7.0    -19.0
 Chad             31.9       0      --     32.2    -0.9        14       4.7    199.9
 Egypt            51.3    55.7     -7.9    53.9    -4.8      41.6      36.7     13.4
 Gabon               0       0      --        0      --         0       3.2     -100
 Sudan              39    43.1     -9.5       0      --      25.9         3    766.4
 Eq Guinea           0       0      --     52.6    -100       4.9      44.9    -89.1
 Algeria          71.5    31.1    130.1       0      --      47.4       7.7    513.6
 TOTAL           846.1   753.3     12.3   585.2    44.6     682.7     660.6      3.3
                                                                                    
 CANADA              0    34.3     -100       0      --       9.7         0      --
 TOTAL ALL        4534  4377.1      3.6  4244.8     6.8    4341.8      4234      2.5
 NOTE: The total may not tally as numbers in tonnes have been rounded off after converting them
into barrels using a conversion factor of 7.3 barrels per tonne and dividing by the number of
days. Numbers for the previous months may have been revised.
    The data includes some oil tankers that arrived in June but discharged in July. It also
include some parcels that arrived in July and discharged in August.
    
     

 (Reporting by Nidhi Verma in NEW DELHI and Mark Tay in SINGAPORE; Editing by Tom Hogue)
  
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