Crude oil production in EU drops by 10%

December 4, 2006 - 0:0
BRUSSELS (IRNA) — Crude oil production in the European Union dropped by 10.4% in 2005 with a total of 119 million tons. Crude oil production of the United Kingdom, which is the largest producer in the European Union, continued to fall.

According to figures released recently by Eurostat, the EU's statistical office, net imports of crude oil into the EU did not increase in 2005, compared to the previous year and reached 580 million tons.

Net exports of the UK have strongly declined over the last years.

For the first time the UK imported more crude oil than it exported.

On the other hand imports of petroleum products into the EU rose by 10%.

Compared to 2004, net EU-25 imports of crude oil and petroleum products increased by around 2.7% and reached 574 million tons.

Russia was the biggest exporter of crude oil to the EU in 2005 with 184 million tons followed by Norway (91 mt), Saudi Arabia (60.6 mt), Libya (52 mt) and Iran (34 mt).

The biggest importer of Iranian crude oil in the EU in 2005 was Greece with 27%, followed by Belgium 13% , Italy 10% and France 7%.

Estonia, Latvia, Luxembourg and Slovenia rely totally on imports of oil products as no refineries operate in these countries.

Ireland receives three quarters of its crude oil from Norway.

Slovakia (100%), Hungary (98%), Lithuania (97%), Poland (95%) and Finland (81%) are supplied almost exclusively by Russia.

Around a third of the EU exports of petroleum products, about 30 million tons, goes to the USA.

Above all motor spirit and residual oil are exported in the USA.

The share of motor spirit rose strongly compared with the previous year, from 12 million tons to 17 million tons.

This corresponds to an increase of 38% and is due to the impacts of the hurricane "Katrina" in the USA.

A significant growth of EU exports of petroleum products is recorded to Singapore with about 6mt. This rise is due to the increase of the exports of residual fuel oil.