Thailand cuts crude imports in May

Thailand imported less crude in May as refinery runs fell. Imports were 607,000 b/d in the month, lower by 29pc from April and down by 31pc compared with May 2019, according to data from Thailand's energy department.

Weak refining margins prompted Thai refiners to reduce their operating rates and carry out some minor maintenance, a refinery official said. This sent crude import volumes lower in May.

Crude imports from the Middle East fell to 291,000 b/d in May, down by 48pc from April and by 41pc from May 2019. Imports of crude from Asia-Pacific were 57,000 b/d, down by 35pc from April and lower by 56pc from a year earlier. The government data did not include details of imports from other regions.

Around 3.22mn bl (104,000 b/d) of crude from the US arrived in Thailand in May, according to Vortexa. Imports comprised US light sweet West Texas Intermediate (WTI) and Bakken crudes. Most of these volumes discharged at Sri Racha port, likely to supply the 275,000 b/d Thai Oil and 177,000 b/d ExxonMobil refineries there, although some small volumes also went to Mab Ta Phut port to supply the 155,000 b/d Rayong refinery run by Star Petroleum Refining, according to Vortexa. Thailand took delivery of 169,000 b/d of US crude in April, Vortexa data show.

Around 848,700 bl (27,000 b/d) of Russian Sokol crude arrived in Thailand in May, to supply Thai Oil and ExxonMobil, as well as about 1.37mn bl (44,000 b/d) of west African crude. The west African grades were Angolan Dalia and Congolese N'kossa, which went to Star Petroleum Refining and Thai Oil, respectively.

Thailand's domestic crude production was 117,000 b/d in May, down by 6pc from April and lower by almost 12pc from May 2019.

By Rhalain Reyes