Price for Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals in Australia - 2023
Contents:
- Price for Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals in Australia (CIF) - 2022
- Price for Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals in Australia (FOB) - 2022
- Imports of Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals in Australia
- Exports of Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals in Australia
Price for Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals in Australia (CIF) - 2022
In 2022, the average import price for residues; of petroleum oils or of oils obtained from bituminous mineralses amounted to $1,596 per ton, surging by 43% against the previous year. Over the period under review, import price indicated a moderate increase from 2012 to 2022: its price increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for residues; of petroleum oils or of oils obtained from bituminous mineralses increased by +95.6% against 2020 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Singapore ($2,523 per ton), while the price for Malaysia ($1,342 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+3.3%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals in Australia (FOB) - 2022
In 2022, the average export price for residues; of petroleum oils or of oils obtained from bituminous mineralses amounted to $6,782 per ton, remaining stable against the previous year. In general, the export price recorded a measured increase. The most prominent rate of growth was recorded in 2013 when the average export price increased by 8.3%. The export price peaked in 2022 and is expected to retain growth in years to come.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was New Zealand ($28,364 per ton), while the average price for exports to South Korea ($1,355 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to New Zealand (+20.3%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals in Australia
In 2022, overseas purchases of residues; of petroleum oils or of oils obtained from bituminous mineralses decreased by -55% to 513 tons, falling for the second year in a row after two years of growth. In general, imports recorded a sharp decrease. The growth pace was the most rapid in 2020 when imports increased by 2.1%. As a result, imports attained the peak of 2.1K tons. From 2021 to 2022, the growth of imports of remained at a somewhat lower figure.
In value terms, imports of residues; of petroleum oils or of oils obtained from bituminous mineralses contracted sharply to $819K in 2022. Overall, imports recorded a precipitous slump. The smallest decline of -22.1% was in 2020.
| Import of Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals in Australia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Thailand | 1,998 | 1,556 | 1,136 | 624 | -32.2% |
| Malaysia | 5.1 | 11.5 | 25.8 | 144 | 204.5% |
| Singapore | 14.1 | 38.8 | 41.5 | 49.0 | 51.5% |
| United States | 97.0 | 57.8 | 44.9 | N/A | -32.0% |
| Others | 61.2 | 31.3 | 27.7 | 2.0 | -68.0% |
| Total | 2,175 | 1,695 | 1,276 | 819 | -27.8% |
Top Suppliers of Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals to Australia in 2022:
- Thailand (385.4 tons)
- Malaysia (107.6 tons)
- Singapore (19.4 tons)
Exports of Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals in Australia
In 2022, exports of residues; of petroleum oils or of oils obtained from bituminous mineralses from Australia totaled 216 kg, flattening at 2021 figures. In general, exports recorded a precipitous contraction. The smallest decline of 99.9% was in 2021.
In value terms, exports of residues; of petroleum oils or of oils obtained from bituminous mineralses stood at $1.5K in 2022. Over the period under review, exports faced a precipitous shrinkage. The smallest decline of 99.9% was in 2021.
| Export of Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals in Australia (USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2020 | 2021 | 2022 | CAGR, 2020-2022 | |
| Singapore | 1,199 | N/A | 596 | -29.5% | |
| New Zealand | 618 | N/A | 312 | -28.9% | |
| Thailand | 650 | N/A | 299 | -32.2% | |
| South Korea | N/A | N/A | 84.0 | 0% | |
| Malaysia | 288 | N/A | 77.0 | -48.3% | |
| Papua New Guinea | 95.0 | N/A | 58.0 | -21.9% | |
| Others | 78.0 | N/A | 39.0 | -29.3% | |
| Total | 2,928 | N/A | 1,465 | -29.3% | |
Top Export Markets for Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals from Australia in 2022:
- Thailand (84.0 kg)
- South Korea (62.0 kg)
- Singapore (33.0 kg)
- Papua New Guinea (20.0 kg)
- New Zealand (11.0 kg)
- Malaysia (3.0 kg)
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