Germany's 2015 Diesel, Fuel Oil Sales Gains Offset Naphtha, Gasoil Slide
03.03.2016 - NEWS

March 3, 2016 [OPIS] - German refineries and traders sold almost steady quantities of refined oil products to domestic users last year as gains in the diesel, heavy fuel and LPG groups helped offset declines for naphtha, light heating oil and gasoline, a full-year estimate by the Federal Office for Economic Affairs and Export Control (BAFA) shows.


Annual product sales softened 0.4% year on year to 102.28 million mt, without recycled volumes. Stronger heat fuel demand after a mild 2014, which pushed up overall energy consumption, was partly met with natural gas and gasoil stocks, data by the Working Group on Energy Balances (AGEB) indicate.

While domestic demand was little changed, exports accelerated 4.6% on-year to 22.21 million mt, partly absorbing the 2.2% advance in gross refining output to 102.58 million mt. Imports were 0.5% higher than a year ago at 37.23 million mt, including a nearly one-tenth jump in December.

Naphtha stood out with a 914,780 mt (5.4%) decline in annual deliveries to 16.15 million mt (144 million bbl), largely reflecting flows into the petrochemical sector, whereas LPG sales rose by almost 163,300 mt to 3.01 million mt (36 million bbl), including 1.35 million mt for chemical processing amid steep price discounts.

Sales of light heating oil (HEL) dropped 619,330 mt (3.7%) to 16.19 million mt (121 million bbl) despite lower purchasing costs, which AGEB’s initial annual review attributed to inventory leftovers, while natural gas grew its share in Germany’s energy mix.

The declining use of gasoline engines in passenger cars resulted in a 261,850 mt (1.4%) fall in gasoline sales to 18.26 million mt (152 million bbl).

By contrast, sellers of diesel rode on the wave of stronger transportation and construction activity, which pushed up sales volumes by 1.4 million mt (4%) to almost 37 million mt (276 million bbl).

Domestic aviation fuel sales were 0.5% softer on-year at 8.48 million (67 million bbl).

Heavy fuel sales surged more than one-fifth to 5.23 million mt (35 million bbl).

The provisional data is subject to retrospective change.

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