Oil, LNG imports drop by 4% YoY in September

October 14, 2023 (MLN): The total oil and LNG imports registered a fall of 4% YoY to 1.96 million tons in September 2023, compared to 2.04m tons imported in the Same Period Last Year (SPLY).

Similarly, on a monthly basis, total imports went down by 3% MoM compared to the 2.01m tons in August 2023.

Commulatively in 1QFY24, total oil and LNG imports were reported at 5.64m tons, down by 11% YoY when compared with the 6.32m tons imported in 1QFY23.

The import of oil products stood at 656,000 tons in September, up by 14% MoM compared to the figure of 578,000 tons reported in August 2023.

However, the same figures reflect a decline of 13% YoY as the total oil imports stood at 756,000 tons in September 2022.

Commulatively in 1QFY24 oil imports plunged by 32% YoY compared to 1QFY23.

Under the total imports, LNG held dominance as it represented 34.07% of the total quantity imported.

LNG imports have declined 7% YoY and 10% MoM to 666,000 tons in September 2023.

To note, the import of MoGas and Crude has surged by 19% and 11% YoY to 524,000 and 633,000 tons respectively during the review period.

Conversely on a commulative basis in 1QFY24, compared to the figures of 1QFY23 , Mogas and Crude imports have inched down by 2% and 6% YoY respectively.

Apart from the following imports, the country imported 121,000 tons of HSD during September 2023.

Copyright Mettis Link News