Sudan: Crude Oil Market 2024

Crude Oil Market Size in Sudan

The Sudanese crude oil market declined to $X in 2022, falling by X% against the previous year. Overall, consumption saw a abrupt decrease. Over the period under review, the market attained the maximum level at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Crude Oil Production in Sudan

In value terms, crude oil production contracted to $X in 2022 estimated in export price. Over the period under review, production showed a perceptible shrinkage. The pace of growth appeared the most rapid in 2018 when the production volume increased by X% against the previous year. Crude oil production peaked at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Crude Oil Exports

Exports from Sudan

In 2022, overseas shipments of crude petroleum oil decreased by X% to X tons, falling for the fourth year in a row after seven years of growth. In general, exports, however, posted a prominent increase. The most prominent rate of growth was recorded in 2016 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, crude oil exports contracted to $X in 2022. Overall, exports, however, posted a prominent increase. The pace of growth was the most pronounced in 2017 with an increase of X%. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Italy (X tons), China (X tons) and India (X tons) were the main destinations of crude oil exports from Sudan, with a combined X% share of total exports. Indonesia, Malaysia, Japan and South Korea lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for Indonesia (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), China ($X) and Malaysia ($X) constituted the largest markets for crude oil exported from Sudan worldwide, together accounting for X% of total exports.

Among the main countries of destination, Italy, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average crude oil export price amounted to $X per ton, reducing by X% against the previous year. Over the period under review, the export price recorded a slight downturn. The growth pace was the most rapid in 2021 when the average export price increased by X% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Malaysia ($X per ton), while the average price for exports to Japan ($X 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 Italy (X%), while the prices for the other major destinations experienced more modest paces of growth.

Crude Oil Imports

Imports into Sudan

In 2022, supplies from abroad of crude petroleum oil increased by X% to X tons for the first time since 2018, thus ending a three-year declining trend. In general, imports, however, faced a sharp downturn. The growth pace was the most rapid in 2014 when imports increased by X%. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, crude oil imports stood at $X in 2022. Over the period under review, imports, however, recorded a dramatic slump. The growth pace was the most rapid in 2014 when imports increased by X% against the previous year. Imports peaked at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Saudi Arabia (X tons) constituted the largest crude oil supplier to Sudan, accounting for a X% share of total imports. Moreover, crude oil imports from Saudi Arabia exceeded the figures recorded by the second-largest supplier, the UK (X tons), sevenfold. Italy (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Saudi Arabia amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (X% per year) and Italy (X% per year).

In value terms, Saudi Arabia ($X) constituted the largest supplier of crude petroleum oil to Sudan, comprising X% of total imports. The second position in the ranking was held by the UK ($X), with a X% share of total imports. It was followed by Italy, with a X% share.

From 2012 to 2022, the average annual growth rate of value from Saudi Arabia amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (X% per year) and Italy (X% per year).

Import Prices by Country

In 2022, the average crude oil import price amounted to $X per ton, which is down by X% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of X%. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

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 the UK ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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