Bahrain: Market for Processed Petroleum Oils and Distillates 2024

Market Size for Processed Petroleum Oils and Distillates in Bahrain

In 2022, after two years of growth, there was decline in the Bahraini market for processed petroleum oils and distillates, when its value decreased by X% to $X. Over the period under review, consumption saw a moderate expansion. As a result, consumption reached the peak level of $X, leveling off in the following year.

Production of Processed Petroleum Oils and Distillates in Bahrain

In value terms, processed petroleum oils and distillates production fell to $X in 2022 estimated in export price. Overall, production, however, showed a pronounced setback. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Processed petroleum oils and distillates production peaked at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Exports of Processed Petroleum Oils and Distillates

Exports from Bahrain

In 2022, shipments abroad of processed petroleum oils and distillates increased by X% to X tons for the first time since 2019, thus ending a two-year declining trend. In general, exports, however, faced a sharp contraction. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, processed petroleum oils and distillates exports surged to $X in 2022. Over the period under review, exports, however, recorded a precipitous setback. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

The United Arab Emirates (X tons), South Africa (X tons) and Singapore (X tons) were the main destinations of processed petroleum oils and distillates exports from Bahrain, with a combined X% share of total exports. Japan, the UK, South Korea, Pakistan, Thailand, Democratic Republic of the Congo, the United States, Mozambique, Oman and France lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Democratic Republic of the Congo (with a CAGR of X%), while the other leaders experienced a decline.

In value terms, the largest markets for processed petroleum oils and distillates exported from Bahrain were the United Arab Emirates ($X), South Africa ($X) and Japan ($X), with a combined X% share of total exports. Singapore, South Korea, Pakistan, Democratic Republic of the Congo, the UK, Thailand, the United States, France, Oman and Mozambique lagged somewhat behind, together accounting for a further X%.

In terms of the main countries of destination, Democratic Republic of the Congo, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2022, the average export price for processed petroleum oils and distillates amounted to $X per ton, remaining relatively unchanged against the previous year. In general, the export price, however, continues to indicate a deep contraction. The pace of growth was the most pronounced in 2018 an increase of X% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

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 Democratic Republic of the Congo ($X per ton), while the average price for exports to the UK ($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 France (X%), while the prices for the other major destinations experienced a decline.

Imports of Processed Petroleum Oils and Distillates

Imports into Bahrain

In 2022, supplies from abroad of processed petroleum oils and distillates increased by X% to X tons, rising for the fifth year in a row after three years of decline. In general, imports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2021 with an increase of X%. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, processed petroleum oils and distillates imports soared to $X in 2022. Overall, imports showed a resilient expansion. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Imports peaked in 2022 and are likely to continue growth in the immediate term.

Imports by Country

India (X tons) and the United Arab Emirates (X tons) were the main suppliers of processed petroleum oils and distillates imports to Bahrain.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United Arab Emirates (with a CAGR of X%).

In value terms, the largest processed petroleum oils and distillates suppliers to Bahrain were the United Arab Emirates ($X) and India ($X).

The United Arab Emirates, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review.

Import Prices by Country

In 2022, the average import price for processed petroleum oils and distillates amounted to $X per ton, remaining relatively unchanged against the previous year. Overall, the import price recorded a abrupt contraction. The pace of growth was the most pronounced in 2013 when the average import price increased by X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2014 to 2022, the average import prices remained at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United Arab Emirates ($X per ton), while the price for India totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (X%).

Source: IndexBox Platform

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