United States replaces Norway as Belgium's main oil supplier
The United States became Belgium's most important source of oil last year. According to the latest report from the Belgian sector organisation Energia, it took over the top spot from Norway.
In response to the invasion of Ukraine, Europe introduced an embargo on Russian oil in December 2022. This created an opportunity for other countries to meet the demand, as Russia was previously Belgium's biggest supplier, accounting for 22 per cent of its supply.
Initially, Norway replaced Russia as the top oil exporter to Belgium. However, according to statistics released on Wednesday by the sector organisation Energia, the United States has overtaken the Scandinavian country. While Norway exported 5.537 million tonnes of oil to Belgium in 2024, the US exported 5.641 million tonnes in 2024.
The US's market share increased from 13 per cent to 18 per cent in one year. According to Energia, a potential explanation for this sharp increase is the rise in US oil production. Belgium also has 'a strong connection' with the US, exporting finished products such as petrol there, the organisation says.
Flexible refineries
Kazakhstan follows the US and Norway as Belgium's third-biggest oil exporter, accounting for 3.67 million tonnes and a 12 per cent market share last year. The market share of the Middle East continues to decline from previous years, accounting for just 10 per cent in 2024.
According to Energia, the increased diversification proves the flexibility of Belgian refineries. The sector organisation also points out that these refineries are operating at 94 per cent utilisation, which is much higher than the European average of 79 per cent.
Belgian refineries mainly produce diesel and fuel oil, and export more than they consume domestically. This benefits the country's energy supply, according to Energia. 'It would be good to recognise them as a strategic sector,' said secretary-general Wim De Wulf.
PHOTO © Francois PICARD / AFP
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