OREANDA-NEWS. February 09, 2017. Canada remained the largest US crude importer in 2016, but its market share dropped by about 30pc as the end of the US export ban spurred wider flows.

The US exported about 520,000 b/d last year with Canada receiving about 300,000 b/d, according to fresh data from the US Department of Commerce's Bureau of Census. This represents a decrease of almost 130,000 b/d compared to 2015, when Canada imported just shy of 430,000 b/d, or 92pc, of the roughly 465,000 b/d of US crude exports.

The Netherlands was the second-largest importer of US crude, taking about 38,000 b/d, or 7pc, of exports in 2016, up from less than 5,000 b/d in 2015. Shipments to the Netherlands consisted largely of US condensate exported to Rotterdam for refiners to blend with heavier imports or as feedstock for Koch's 80,000 b/d condensate splitter.

In December alone, Canada received 44pc of the 441,645 b/d of US crude exports. China was the second-most popular destination that month, taking 62,831 b/d, or 14pc, of US crude. US crude and condensate is gaining a foothold in the Asia-Pacific market as tankers carrying largely US medium sour crude increasingly flock to China and Singapore to fill spare demand.

Latin America appeared a primary destination as well, with Curacao, Peru, Nicaragua and Guatemala combined importing 20pc of total outbound US volume.

Venezuelan state-owned PdV frequently purchases US domestic sweet (DSW) blend for its 325,000 b/d La Isla refinery on the island of Curacao, where it blends light sweet crude imports with its extra-heavy Orinoco crude output to produce its more easily marketable 16°API Merey grade. The firm sought three 550,000 bl cargoes of DSW or WTI for prompt arrival in a December tender. The Bureau of Census data reflects 1.12mn bl, or roughly 36,000 b/d, of that volume arrived the same month.

PdV previously supplied smaller Latin American and Caribbean countries like Nicaragua and Guatemala with crude oil under long-term contracts provided under the PetroCaribe alliance program. Falling Venezuelan output and unstable economic conditions has since prevented PdV from fulfilling many of these promises, and PetroCaribe member countries have turned to various other outlets.

Nicaragua imported a 400,000 bl cargo of US crude in December, marking the country's fourth US crude cargo. The first of these cargoes was 380,000 bl of WTI-quality crude that Trafigura shipped through the Panama Canal to supply its subsidiary Puma Energy's 20,000 b/d Managua refinery on the Pacific coast. More details could not be confirmed on the following cargoes.

Another 384,000 bl, or about 12,000 b/d, traveled to Guatemala in December, marking the country's first US crude import.

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Country 2014 2015 2016
Canada 331,023 428,670 302,626
Netherlands 0 4,781 38,370
Curacao 0 0 29,776
China 791 1,155 22,694
Italy 2,758 4,282 21,433
United Kingdom 0 0 16,218
Korea South 2,386 2,672 10,698
Singapore 2,187 0 10,632
Colombia 0 0 9,654
Japan 0 0 7,924
Peru 0 0 7,386
France 0 1,715 6,526
Marshall Islands 0 0 5,721
Switzerland 8,901 13,264 4,774
Spain 2,907 7,175 4,482
Nicaragua 0 0 4,286
Bahamas 0 0 4,262
Panama 0 0 3,160
South Africa 0 0 2,755
Israel 0 0 2,115
Thailand 0 0 2,001
Argentina 0 0 1,534
Liberia 0 0 1,241
Guatemala 0 0 1,055
Dominican Republic 0 0 819
Brazil 0 1,762 530
Germany 321 0 0
India 0 850 0
Fourth quarter October November December
Canada 26,677 28,914 16,660
China 1,490 6,275 5,351
United Kingdom 0 1,350 3,434
Curacao 0 0 3,091
Netherlands 3,976 2,662 2,948
Peru 1,149 962 2,194
Italy 1,851 1,778 1,783
Nicaragua 0 0 1,098
Guatemala 0 0 1,055
Other 6,659 7,280 0