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Markets

Japan's November crude imports rise 10.5pc yr/yr

Published December 18, 2013 Updated December 18, 2013 05:50am

imageTOKYO: The volume of Japan's customs-cleared crude oil imports rose 10.5 percent in November from the same month a year earlier, Ministry of Finance data showed on Wednesday, climbing from a low baseline figure.

Japan shipped in 3.7 million barrels per day (17.8 million kilolitres) of oil last month, the preliminary data showed, against a 6.2 percent drop for the month of November 2012.

October crude imports totaled 3.5 million bpd, or 17.2 million kilolitres for the month.

Japan's imports of liquefied natural gas (LNG) totaled 7.2 million tonnes in November, up 8.3 percent from a year earlier. Imports of thermal coal for power generation rose 0.1 percent last month to 9.8 million tonnes, the data showed. LNG and thermal coal imports used in power generation have been on the rise following the September shut down of Japan's last two operating nuclear reactors in the wake of the Fukushima crisis.

It is only the second time since the 1970s that Japan has been without nuclear power.

The Japan Crude Cocktail (JCC) price was $112.74 a barrel in November, against $113.90 a year ago and $113.48 in October, the data showed. The JCC is the average price for customs-cleared crude oil imports and is used as the benchmark for LNG prices for Japanese buyers.

Following is a preliminary breakdown of energy imports for last month, with volumes of crude, oil products and gasoline/naphtha in million kilolitres; LNG, LPG and coal in million tonnes; and values in millions of yen.

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