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16
RECOPEANNUALREPORT2014
37%
38%
37%
37%
31%
34%
34%
35%
7%
8%
8%
7%
7%
7%
8%
8%
8%
10%
12%
14% 13%
0%
20%
40%
60%
80%
100%
2011
2012
2013
2014
Otros LPG Jet Fuel
Crudos Gasolina Diesel
Importations and oil bill
During 2014, RECOPE imported a total of 3,112,042 m3 (19.57 million
barrels) of finished product, at a total CIF cost of US$2,105.9 million, cocktail average
price of $107.59/bbl.
The total bill for imports during 2014 fell by 3.5% compared to 2013,
while the imports by volume of fuels increased by 3.8%, which allows to reach the
conclusion that fuel prices remained below those experienced during the year 2013,
with an increased demand. Comparing year by year, a barrel of product imported by
RECOPE during 2014 had a cost of US$8.1 lower than 2013; the average price of
$115.7/bbl on 2013 decreased to $107.6/bbl in 2014.
Imports for the years 2013 and 2014 show the same structure in terms of
percentages, with a slight increase in gasoline.
Increase in the oil bill 2012-2014
Source:
International Fuel Trade Directorate and Integral Management.
Volumetric composition of imports
Source:
Prepared by the Department of Business Planning. Information provided by the
Department of International Trade in fuels. DCIC 0008-2015.
Imports: Total volume and average price ($/bbl) 2011-2014
2012
2.175.639
2.865.660 18.024.460
759
120,7
2013
2.181.787
0,30% 2.999.152 18.864.093 4,70% 727 115,7
2014
2.105.925
-3,50% 3.112.042 19.574.156 3,80% 677 107,6
$/bbl
Impor ts
Aver age pr i ce
Thousands of $
Exchange r ate
(%)
m
3
Bbl
Exchange
r ate (%)
$/m
3
Year
Oi l Bi l l
others
LPG
Jet Fuel
Crude
Gasoline
Diesel
Total Volume (M3)
Average price
Weighted price ($/bbl)
Volume Thousands of M3