Qatar: Market for Processed Petroleum Oils and Distillates 2024

Market Size for Processed Petroleum Oils and Distillates in Qatar

The Qatari market for processed petroleum oils and distillates fell rapidly to $X in 2022, waning by -40.2% against the previous year. In general, consumption showed a noticeable reduction. Over the period under review, the market hit record highs at $X in 2021, and then dropped remarkably in the following year.

Production of Processed Petroleum Oils and Distillates in Qatar

In value terms, processed petroleum oils and distillates production fell to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a noticeable downturn. The pace of growth appeared the most rapid in 2017 with an increase of 51%. Processed petroleum oils and distillates production peaked at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Exports of Processed Petroleum Oils and Distillates

Exports from Qatar

In 2022, overseas shipments of processed petroleum oils and distillates increased by 30% to X tons for the first time since 2018, thus ending a three-year declining trend. The total export volume increased at an average annual rate of +4.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, processed petroleum oils and distillates exports surged to $X in 2022. In general, exports saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 when exports increased by 51% against the previous year. Over the period under review, the exports reached the maximum at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Japan (X tons) was the main destination for processed petroleum oils and distillates exports from Qatar, with a 25% share of total exports. Moreover, processed petroleum oils and distillates exports to Japan exceeded the volume sent to the second major destination, the United States (X tons), twofold. Singapore (X tons) ranked third in terms of total exports with an 11% share.

From 2012 to 2022, the average annual growth rate of volume to Japan totaled +9.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+488.5% per year) and Singapore (+29.7% per year).

In value terms, the largest markets for processed petroleum oils and distillates exported from Qatar were Japan ($X), the United States ($X) and Singapore ($X), together comprising 43% of total exports. China, the Netherlands, Hong Kong SAR, Germany, France, the Philippines, India, Finland and the UK lagged somewhat behind, together accounting for a further 34%.

The Philippines, with a CAGR of +1,956.9%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for processed petroleum oils and distillates stood at $X per ton in 2022, remaining stable against the previous year. In general, the export price, however, saw a perceptible shrinkage. The growth pace was the most rapid in 2021 an increase of 44% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR (+44.0%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Processed Petroleum Oils and Distillates

Imports into Qatar

In 2022, imports of processed petroleum oils and distillates into Qatar skyrocketed to X tons, with an increase of 38% on 2021. Over the period under review, imports enjoyed significant growth. The most prominent rate of growth was recorded in 2021 with an increase of 154%. Over the period under review, imports attained the maximum in 2022 and are likely to continue growth in the immediate term.

In value terms, processed petroleum oils and distillates imports skyrocketed to $X in 2022. In general, imports saw a resilient increase. The pace of growth appeared the most rapid in 2021 with an increase of 260% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, India (X tons) constituted the largest processed petroleum oils and distillates supplier to Qatar, with a 47% share of total imports. Moreover, processed petroleum oils and distillates imports from India exceeded the figures recorded by the second-largest supplier, Singapore (X tons), threefold. Portugal (X tons) ranked third in terms of total imports with an 8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from India totaled +140.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+89.9% per year) and Portugal (+113.8% per year).

In value terms, India ($X) constituted the largest supplier of processed petroleum oils and distillates to Qatar, comprising 41% of total imports. The second position in the ranking was held by Singapore ($X), with a 15% share of total imports. It was followed by Portugal, with a 5.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value from India amounted to +102.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+67.3% per year) and Portugal (+88.6% per year).

Import Prices by Country

The average import price for processed petroleum oils and distillates stood at $X per ton in 2022, approximately reflecting the previous year. In general, the import price continues to indicate a perceptible reduction. The pace of growth was the most pronounced in 2018 when the average import price increased by 83% against the previous year. As a result, import price reached the peak level of $X per ton. From 2019 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Greece ($X per ton), while the price for Portugal ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+1.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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