21 minutes agoOil imports in Germany up by 15%, double bills
Periskopi(4 years ago)
(4 years ago)The volume of German crude oil import rose by 14.6 percent in the first four months of 2022, as the economy recovered from the impact of COVID-19 pandemic and the bill doubled due to higher prices, official data showed on Wednesday. Russia remained the main supplier, holding a part [...]
Russia remained the main supplier, holding a 35 per cent share of Germany's oil imports in this period, monthly statistics from the BAFA Foreign Trade Office showed.
Import by 21.5 percent was followed by the British North Sea and Norwegian Sea, while imports from members of the Organisation of Exporting Lands (OPEC) contributed 17.7 percent.
The remainder was divided among other sources, including Kazakhstan and the United States.
BAFA publishes import data by two months late.
This means that the influence of Ukraine's Russian occupation on 24 February, which has led to economic sanctions against Russia and against actions on energy flows, will begin to emerge gradually.
German oil imports in January-April from all origins rose to 28.5 million tonnes from 24.9 million in the same month of 2021, BAFA said.
Germany spent 18.5 billion euros (18.81 billion dollars) on crude imports in four months, 99 percent more than a year ago.
The average price paid per tonne on the border rose by 74 per cent in the same period a year ago, standing at 647.57 euros, BAFA said.
Oil prices at Brant on the global market reduced several missed areas after a 9 per cent sale Tuesday due to increasing fears of recession and impasses in China.
Prices had recovered dramatically during 2021 and early 2022 and reached their highest level since 2008 in March, prompted by concerns about the impact of Ukraine's Russian occupation
They are still at the highest levels in these eight years. / REL
