• 2 minutes Oil prices going down
  • 11 minutes China & India in talks to form anti-OPEC
  • 16 minutes When will oil demand start declining due to EVs?
  • 11 mins Oil prices going down
  • 15 hours We Need A Lasting Solution To The Lies Told By Big Oil and API
  • 16 hours Another WTH? Example of Cheap Renewables
  • 3 days Bullish and bearish outlook for oil
  • 3 hours What If Canada Had Wind and Not Oilsands?
  • 2 days Trump Hits China With Tariffs On $50 Billion Of Goods
  • 2 days When will oil demand start declining due to EVs?
  • 15 hours The Wonderful U.S. Oil Trade Deficit with Canada
  • 2 days Russia's Rosneft 'Comfortable' With $70-$80 Oil Ahead of OPEC Talks
  • 3 days Rolls Royce shedding 4,600 jobs
  • 8 hours China & India in talks to form anti-OPEC
  • 3 hours Australia mulls LNG import
  • 8 hours No LNG Pipelines? Let the Trucks Roll In
  • 14 hours The Permian Mystery
  • 1 day Gazprom Exports to EU Hit Record
  • 3 days OPEC soap opera daily update
Global Energy Advisory - June 15th 2018

Global Energy Advisory - June 15th 2018

Oil markets are on edge…

Who Gets Hold Of Russia’s Key Oil Hub?

Who Gets Hold Of Russia’s Key Oil Hub?

25 percent of the Novorossiysk…

South Korea's Petroleum Products Exports Rise in July

According to the South Korean government, last month South Korea's exports of petroleum products, such as gasoline and diesel, surged 95.7 percent from a year ago.
 
The exports were driven by rising demand from both Asia and the European Union.

According to South Korea's Ministry of Knowledge Economy, South Korea exported shipped over $5.18 billion worth of petroleum products in July, as opposed to about $2.66 billion the previous year for a total of 42.2 million barrels of refined petroleum products.
 
In a statement the Ministry of Knowledge Economy noted, "The increase in exports of petroleum products is mainly due to hikes in demand from other Asian countries and the European Union," Seoul’s Yonhap news agency reported.

Two factors boosting exports were the 11 March earthquake and subsequent tsunami in Japan, which knocked out Tokyo Electric Power Company’s six reactor Fukushima nuclear complex and refinery complexes on Japan’s eastern coast and South Korea’s recent free trade agreement (FTA) with Europe, signed last month, which also increased sales. The FTA cut European import duties, causing South Korea exports to the European Union to soar 251.6 percent from their June 2011 level to over 3.9 million barrels. South Korean total energy exports were equal to 60 percent of the $8.7 billion the country spent to purchase crude oil from abroad

By. Joao Peixe, Deputy Editor OilPrice.com



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News