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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition Singapore Asia Pacific World S.Korea Nov crude imports up 31 pct yr/yr Reuters - 1 hour 37 minutes ago Send IM Story Print * November crude runs at 76 mln bbls, up 13.1 pct on year * Oil product demand at 69.1 mln bbls, up 6.3 pct on year * Nov private oil stocks up 9.4 pct to 59.5 mln bbls By Yeojung Chang SEOUL, Dec 20 - Oil imports by South Korea, the world's fifth-largest crude buyer, jumped 31 percent in November from a year ago for the seventh straight monthly gain thanks to a recovering economy and healthy refining margins, state-run Korea National Oil Corp said on Monday. Four local refiners, SK Energy Co Ltd , GS Caltex, S-Oil Corp and Hyundai Oilbank, and KNOC imported a combined 77.2 million barrels last month, compared with 59.1 million barrels a year earlier, according to KNOC data. "Last year's crude import in November was much smaller than an average of 70 million bpd, which made last month's import seem much larger year on year," a Seoul-based oil analyst said. "Margins and local demand for oil products also have increased year on year thanks to recovering economy, helping more demand for crude oil," he said, referring to domestic oil product demand last month, which increased 6.3 percent to 69.1 million barrels. Local crude runs increased by 13.1 percent year on year in November to 76 million barrels, data showed. Total crude processing volumes by South Korean refiners in December would stay unchanged from November at 2.53 million barrels per day on firm demand and healthy margins, a Reuters survey showed earlier this month. [ID:nTOE6B604K] Refinery profit margins were quoted at $0.59 per barrel on average in the past five days and $1.26 on average in the past 15 days, compared with $1.33 in November. Imports of liquefied natural gas by South Korea, the world's No. 2 buyer after Japan, also rose strongly in November, driven by power demand to fuel a rebound in Asia's fourth largest economy, according to the Korea Customs Service last Wednesday. [ID:nTOE6BE00D] South Korea's economy is expected to grow by about 5 percent in 2011, unchanged from its previous forecast released in June, while it raised this year's growth estimate to 6.1 percent, the government said earlier this month. [ID:nSUL000209] Recommend Send IM Story Print Related Articles Bakrieland sees property market jump; eyes theme parks Reuters - 33 minutes ago Philippines' Meralco to issue $113 mln fixed rate notes Reuters - 34 minutes ago US-BUSINESS Summary Reuters - 35 minutes ago WRAPUP 5-Seoul goes ahead with firing drill despite war threat Reuters - 36 minutes ago Asian stocks fall in thin choppy trade Reuters - 36 minutes ago News Search Top Stories Red Moon: Lunar eclipse to make it memorable solstice Christmas getaway misery as snow stymies Europe Scientists find gene clue to 130 brain diseases Osborne: Europe debtors should solve 'own problems' Anglo American plotting De Beers takeover: report More Top Stories » ADVERTISEMENT Most Popular Most Viewed Most Recommended Parents didn't want Sonia to wed Rajiv Gandhi: cables WikiLeaks chief Assange fears US charges Red Moon: Lunar eclipse to make it memorable solstice Iran fuel prices soar as subsidies cut Rebels hold Afghan army centre after deadly attack More Most Viewed » NASA finds new form of life... on Earth Defiant Obama defends tax cuts, eyes 2012 More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo! Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Entertainment Photos Yahoo! News Network Copyright © 2010 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

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