Korean H1 Petroleum Product Exports Up 7% - KNOC
Posted on: Tuesday, 12 August 2008, 09:01 CDT
The Korea National Oil Company has reported that South Korea exported 146.6 million barrels of petroleum products in the first half of 2008, a 6.8% increase, compared to the same period of 2007.
The Korea National Oil Company (KNOC) stated that this increase is mainly because of the base effect of weak diesel exports for the same period in the previous year.
Exports of refined oil products in June 2008 marked an 18.5% increase compared with the same month of 2007, fueled by increasing exports of diesel to Singapore and gasoline to the US.
During the first half of 2008, exports of naphtha and diesel to China decreased, while exports of most refined products to Japan decreased, except for lubricants and asphalt.
Exports of most refined products to the US fell, especially jet oil, while exports of diesel and jet oil to Singapore soared. Exports of diesel to Chile have been reported to be sluggish.
Source: Datamonitor
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