South Korea imported 2.67 million b/d of crude in February, according to latest data from Korea National Oil Corp. (KNOC). That was 14.1% up on a year earlier calculated on a barrel per day basis, as February 2008 had 29 days, rather than the normal 28 days. But volumes were 11.4% lower than in January, when Korean refiners imported more crude than usual, likely in anticipation of a tax increase in March (IOD Mar.6,p4).
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