Our friends over at Ursa published a blog post yesterday discussing crude inventories at Kyaukphyu in Myanmar, highlighting the seeming political nature of recent crude flows to the storage hub. Crude is delivered to CNPC’s Kabala terminal in Myanmar and is stored at Kyaukphyu before being transported by pipeline to the Yunnan refinery in China. Since the terminal started up in April 2017, we can see from our ClipperData that there has been nearly 80 million barrels discharged there. Saudi Arabia is a steady supplier, accounting for about a half of all crude deliveries – and mostly Arab Medium – with volumes averaging about a VLCC a month (about 2 million barrels). (Click to enlarge) The terminal at Kyaukphyu – and hence the Yunnan refinery – typically imports light and medium sour grades, including UAE’s Das and Upper Zakum, Qatari Al Shaheen, Omani export crude and Iraqi Basrah Light, […]