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World’s Top 10 Largest Oil Importers

/ September 18, 2014

Largest Oil Importers: Oil is a vital source of energy worldwide. There is a huge demand for oil all over the world. Even though almost all nations produce oil, some nations import oil due to demand-supply gap.

Here is the top 10 largest oil importing nations in the world, ranked according to barrels these countries import per day.

10) Singapore – 1,137,000 bbl/day

Singapore is the world’s largest oil-rig producer. It is one of the world’s top oil-refining centers. It is a major hub for ship repair services. Singapore port is one of the busiest ports in the world.

9) Netherlands – 1,202,000 bbl/day

Oil demand in the nation is roughly one million barrels per day. Import dependency is around 96 percent. Russia is the largest oil supplier for Netherlands. Domestic oil production is in the decline in the country.

8) France – 1,298,000 bbl/day

France imports crude oil through three major sea ports: Le Harve, Marseille and Saint-Nazaire) and the Southern European Pipeline System (SPSE) to Germany. Oil represents around one-third of the nation’s total primary energy consumption.

7) Italy – 1,591,000 bbl/day

Even though Italy’s Basilicata region contains the largest inland oil reserves in Western Europe (more than 1.4 billion barrels of crude), it heavily depends on imports to meet its energy needs. The nation imports more than 80 percent of its total energy consumption.

6) Germany – 1,876,000 bbl/day

Germany relies heavily on oil imports. Oil is the main source of energy in Germany (around 32 percent of the nation’s primary energy supply). The country’s oil stock levels are generally well above the required 90 days.