Dutch base oil imports rose to a six-year high in 2024 due to planned maintenance at ExxonMobil's 900,000 t/yr Rotterdam refinery and competitive base oil prices.
- Production slipped on maintenance work — taking imports 7pc higher than the 10-year average at 1,567,000t, according to government data.
- Imports rose from the US especially by 13,200t to 20,000t across 2024, on the year, as buyers looked towards alternative Group II supplies from key producers Chevron and P66.
- Competitive base oil prices further incentivised purchases — average assessed Argus spot prices for Group II N100 and N600 grade on an fca basis slipped by 2pc and 4pc on the year at €1,097/t ($1,258/t) and €1,238/t, respectively.
- But overall Dutch demand slipped due to a rise in Dutch battery electric vehicle sales by 16pc on the year to 132,170 units. While gasoline car sales fell by 26pc to 83,400 units on the year, data from the European Automobile Manufacturers' Association show.
