South Korea's Crude Oil Imports Up 5.1% in 2016
South Korea's Crude Oil Imports Up 5.1% in 2016
Seoul - QNA
South Korea's imports of crude oil climbed 5.1% last year from a year earlier, South Korean government data showed Monday.
The combined inbound purchase of crude oil reached 1.78 billion barrels at the end of December, compared with 1.26 billion barrels the previous year, according to the Ministry of Trade, Industry and Energy.
The import of petroleum products grew 8.3 % on-year to 333.4 million barrels in the cited period, state news agency (Yonhap) reported.
The annual shipments growing 9.7% on-year to 926.2 million barrels.
The inbound shipment of petroleum products also grew 8.3% on-year to 333.4 million barrels as of end-2016, fueled by firm demand for naphtha and liquefied petroleum gas (LPG).
Meanwhile, South Korea's export of oil products amounted to 488.1 million barrels at the end of last year, up 2.3% from 477.4 million barrels a year ago, on the back of an increase in the shipments to Africa and Europe.
Source: QNA
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