Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

South Korea’s December Crude Imports Fall Amid Price Drop

Jan. 1 (Bloomberg) -- South Korea, the world’s fifth-largest oil importer, purchased 0.3 percent less crude in December compared with a year ago.

Imports declined to 80.1 million barrels last month from 80.4 million barrels a year earlier, the Ministry of Knowledge Economy said in an e-mailed statement. Purchasing prices dropped 0.8 percent to $112.1 a barrel from a year earlier, the ministry said, citing preliminary figures. The bill for buying oil fell 1.1 percent to $8.9 billion.

Asia’s fourth-largest economy exported almost half of the crude volume that it imported in 2011 after refining it into gasoline, diesel and other products.

Overseas shipments of oil products climbed 0.3 percent in December from the previous year to $4.5 billion, according to today’s report. Petrochemical shipments were valued at $3.9 billion, up 6.2 percent from a year ago.

Imports of liquefied natural gas cost $3.9 billion in December, a fall of 7.7 percent from the same month a year earlier. Coal imports fell 43 percent, the ministry said.

-- Editors: Abhay Singh, Ravil Shirodkar

To contact the reporter on this story: Eunkyung Seo in Seoul at eseo3@bloomberg.net; Sangim Han in Seoul at sihan@bloomberg.net

To contact the editors responsible for this story: Jason Rogers at jrogers73@bloomberg.net; Alexander Kwiatkowski at akwiatkowsk2@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.