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Cyprus Sales Of Petroleum Products Up 34 Percent In May, While Oil Reserves Drop 17.1 Percent

Cyprus Sales Of Petroleum Products Up 34 Percent In May, While Oil Reserves Drop 17.1 Percent

Total sales of petroleum products increased by 34% on an annual basis in May 2022, while total petroleum reserves decreased by 17.1% (18,020 tons) at the end of May 2022, compared to the end of May 2021.

According to data released by the Statistical Service on Monday, in May 2022, the total sales of petroleum products amounted to 120.906 tonnes, recording a rise of 34% compared to May 2021.

An increase was observed in the provisions of aviation kerosene (235.2%) and of marine gasoil (58.5%), as well as in the sales of heavy fuel oil (100.7%), heating gasoil (53.2%), liquified petroleum gases (32.5%), motor gasoline (14.1%) and road diesel (8.1%). On the contrary, a decrease was recorded in the sales of asphalt (-13.4%) and kerosene (-3.3%). As far as the sales from filling stations are specifically concerned, these have registered an increase of 11.8% to 53,810 tonnes.

The total sales of petroleum products in May 2022 compared to April 2022 recorded a rise of 7.2%. Indicatively, the provisions of aviation kerosene rose by 9.0%, the sales of road diesel by 15.1% and those of motor gasoline by 12.3%. The total stocks of petroleum products at the end of May 2022 rose by 20.3% compared to the end of the previous month.

During the period January – May 2022, the total sales of petroleum products increased by 24.3% compared to the corresponding period of the previous year.

Petroleum reserves

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Moreover, according to the Statistical Service, total oil reserves at the end of May 2022 increased by 20.3% compared to the end of the previous month. However, compared to the end of May 2021, total petroleum reserves are reduced at the end of May 2022 by 17.1%, falling to 87,172 tons compared to 105,192 tons at the end of May 2021.

Source: CNA

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