Price for Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals in Libya - 2022

Contents:

1. Price for Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals in Libya (CIF) - 2022
2. Price for Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals in Libya (FOB) - 2022
3. Imports of Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals in Libya
4. Exports of Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals in Libya

Price for Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals in Libya (CIF) - 2022

The average import price for residues; of petroleum oils or of oils obtained from bituminous mineralses stood at $5,315 per ton in 2022, surging by 8.8% against the previous year. Over the period under review, the import price showed resilient growth. The most prominent rate of growth was recorded in 2014 when the average import price increased by 66% against the previous year. Over the period under review, average import prices hit record highs at $6,101 per ton in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

As there is only one major supplying country, the average price level is determined by prices for Italy.

From 2012 to 2022, the rate of growth in terms of prices for Italy amounted to +11.3% per year.

Price for Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals in Libya (FOB) - 2022

In 2022, the average export price for residues; of petroleum oils or of oils obtained from bituminous mineralses amounted to $208 per ton, which is down by -11.4% against the previous year. In general, the export price, however, recorded a strong expansion. The export price peaked at $235 per ton in 2021, and then declined in the following year.

As there is only one major export destination, the average price level is determined by prices for the Netherlands.

From 2015 to 2022, the rate of growth in terms of prices for Niger amounted to -0.5% per year.

Imports of Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals in Libya

In 2022, after three years of growth, there was significant decline in purchases abroad of residues; of petroleum oils or of oils obtained from bituminous mineralses, when their volume decreased by -6.8% to 3.1 tons. The total import volume increased at an average annual rate of +3.3% over the period from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of 16%. As a result, imports reached the peak of 3.4 tons, and then shrank in the following year.

In value terms, imports of residues; of petroleum oils or of oils obtained from bituminous mineralses amounted to $17K in 2022. Overall, imports saw a slight decline.

Top Suppliers of Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals to Libya in 2022:

1. Italy (3.1 tons)

Exports of Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals in Libya

In 2022, the amount of residues; of petroleum oils or of oils obtained from bituminous mineralses exported from Libya shrank markedly to 56 tons, dropping by -27.5% on the previous year. In general, exports continue to indicate a dramatic contraction.

In value terms, exports of residues; of petroleum oils or of oils obtained from bituminous mineralses fell rapidly to $12K in 2022. Overall, exports recorded a sharp descent.

Top Export Markets for Residues; of Petroleum Oils or of Oils Obtained from Bituminous Minerals from Libya in 2022:

1. Netherlands (55.8 tons)

Source: IndexBox Market Intelligence Platform