Russia Sent 12.5% Less Crude Oil to Germany in 2019

The overall import volume was 0.9% higher than 2018 at 86.0 million tonnes. Norway and Britain together accounted for 23.2% of supply.

SEATTLE (Oil Monster): Russia reduced crude oil exports to Germany last year by 12.5%, partly reflecting a halt in the Druzhba pipeline between April and June due to contamination, official data showed on Wednesday.

Russia accounted for 31.5% of Germany’s oil receipts in January-December, but at 27.1 million tonnes, the amount delivered was less than the 31 million tonnes for 2018, monthly statistics issued by the BAFA foreign trade office showed.

A drop in shipments by a quarter in the January-June period showed the impact of the Druzbhba pipeline crisis. Europe receives around 10% of its oil via Druzhba.

Germany spent 36.8 billion euros ($39.74 billion) on total crude imports in 2019, 4.4% less than a year earlier, BAFA said.

The overall import volume was 0.9% higher than 2018 at 86.0 million tonnes. Norway and Britain together accounted for 23.2% of supply.

The Organization of the Petroleum Exporting Countries contributed 23.7%. OPEC members Libya and Kazakhstan were in fourth and fifth position in the individual supplier rankings.

Average prices paid on the border in 2019 fell by 5.3% to 427.87 euros per tonne. ($1 = 0.9261 euros)

 Courtesy: www.reuters.com