Reliance Jan oil imports down 14.2 percent from Dec -trade

Tue Feb 25, 2014 3:08am EST

Related Topics

* Reliance skips Iraq oil imports 3rd straight month
    * Makes rare purchase of Canadian Cold Lake, Venezuela's DCO
    * Buys Kazakhstan's CPC Blend for the 2nd month in a row

    Feb 25 (Reuters) - India's Reliance Industries Ltd, owner of the world's biggest
oil refining complex, imported 14.2 percent less crude in January compared with the previous
month and continued to skip purchases from Iraq, trade data compiled by Reuters show.
    Reliance imported about 1.09 million bpd in January as it had cut runs at its older 660,000
barrels per day (bpd) plant by about 23 percent from a year ago. 
    Its purchases also eased last month as crude inventory had built up after an emergency
shutdown of a distillation unit in December. The private refiner shipped in about 1.3 million
bpd in December and a similar amount in January 2013, the data showed.
    Billionaire Mukesh Ambani's Reliance operates two refineries at Jamnagar in western Gujarat
state that can together process 1.2 million bpd oil.
    Reliance also made a rare purchase of Canadian heavy oil Cold Lake in January and bought
Kazakhstan's CPC Blend for a second month in a row, the data showed. It was the third month in a
row that it did not buy any Iraqi oil.
    In January Reliance perhaps for the first time received Venezuelan DCO, or diluted crude
oil, a blend of extra heavy crude oil and heavy naphtha.
    Reliance has a term deal to buy as much as 400,000 bpd of oil from Venezuela, its top
supplier, ahead of Saudi Arabia.
    Reliance continuously diversifies its crude slate, making new and rare purchases to take
advantage of the complexity of its plants to improve margins by processing cheaper heavy grades.
    Reliance's imports from outside the Middle East included Merey, Leona and Hamaca from
Venezuela; Maya from Mexico; Vasconia from Colombia; Peregrino, Albacora and Roncador from
Brazil; Azeri Light from Azerbaijan; Ras Gharib from Egypt; Pazflor and Dalia from Angola; and
Dar Blend from Sudan.
    It also buys oil from the Neutral Zone, a region whose production belongs to both Saudi
Arabia and Kuwait. Grades from the joint area include Khafji, Ratawi, Houte and Eocene.
    
    
    Following are the details of Reliance's crude and condensate imports in January 2014 versus
a year earlier, according to the data. Volumes are in 1,000 bpd:
  -----------------------------------------------------------------------------
 REGION/         JAN     DEC      %CHG       JAN      %CHG
 COUNTRY        2014     2013    MTH/MTH    2013     YR/YR
 ----------------------------------------------------------------------------
 Latam
 Brazil        109.9     87.5      25.7      0.0       --
 Colombia       65.8     98.2     -33.0    135.4    -51.4
 Ecuador         0.0      0.0        --      0.0       --
 Mexico         61.7     68.6     -10.0     59.3      4.1
 Venezuela     263.0    337.2     -22.0    543.7    -51.6
 Guatemala       0.0      8.8    -100.0      0.0       --
 TOTAL         500.4    600.2     -16.6    738.4    -32.2
 
 Asia
 Australia       0.0     18.5    -100.0      0.0       --
 TOTAL           0.0     18.5    -100.0      0.0       --
  
 Middle East
 Neutral zone   90.2     62.3      44.8    147.7    -38.9
 Oman            0.0      8.9    -100.0      0.0       --
 Qatar          57.8     84.4     -31.6     39.8     45.4
 S Arabia      213.6    263.3     -18.9    170.2     25.5
 UAE            50.7     37.9      33.9     34.7     46.4
 TOTAL         412.3    456.8      -9.7    392.3      5.1
 
 C.I.S.
 Azerbaijan     32.5      0.0        --      0.0       --
 Kazakhstan     31.5     31.3       0.5      0.0       --
 TOTAL          63.9     31.3     104.3      0.0       --
 
 Africa
 Nigeria         0.0      0.0        --     27.0   -100.0
 Angola         60.8      0.0        --     33.7     80.1
 Cameroon        0.0     22.2    -100.0      0.0       --
 Egypt          17.6     70.1     -74.9     17.6      0.0
 Gabon           0.0     50.7    -100.0      0.0       --
 Sudan          20.3     20.3       0.0      0.0       --
 Eq. Guinea      0.0      0.0        --     71.6   -100.0
 Algeria         0.0      0.0        --      0.0       --
 Libya           0.0      0.0        --      0.0       --
 TOTAL          98.6    163.2     -39.6    149.8    -34.2
 
 Canada         14.0      0.0       --       0.0       --
 ---------------------------------------------------------
 TOTAL ALL    1089.3   1270.1    -14.2    1280.5    -14.9
 ---------------------------------------------------------
 
NOTE: The total may not tally as numbers in tonnes have been rounded off after converting them
into barrels per day using a conversion factor of 7.2 barrels per tonne, divided by the number
of days.

 (Reporting by Nidhi Verma; Editing by Tom Hogue)
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