In the 1970s, it was most common for oil imported to Sweden to come from the Middle East. Over the past ten years, Russia has become the dominant exporter of crude oil to Sweden, accounting for over thirty percent of our imports.

Russia accounts for about 30 percent of the crude oil imported into Sweden. Only half a percent comes from Saudi Arabia. Photo: SVT Design

Norway and Nigeria account for about 20 percent of Swedish imports each. The UK has sailed on Denmark, which has halved its exports to Sweden over the past five years and accounts for only about 3 percent of crude oil deliveries to our country.

"Market concerns"

Saudi Arabia, Egypt and Iraq account for less than one percent each of Swedish crude oil imports.

- There is concern in the market because we do not yet know the extent of the events in Saudi Arabia. There, a process plant has also been selected, which means that countries in Asia are beginning to look for oil products in the European market, says Jan Andersson, CEO of the trade organization Svenska Petroleum and the Biofuels Institute.

"Can give positive effect"

In Sweden, there are several refineries that collectively manufacture and sell more oil products such as petrol and diesel from crude oil than we import.

- The attacks on Saudi plants are not positive events, but it can have a positive economic effect if there is an increased demand for Swedish oil products. The danger of more military attacks in the area may increase the willingness to pay more, says Thina Saltvedt, energy analyst at Nordea.

The Saudi oil attack may increase demand for Swedish oil products, says energy analyst Thina Saltvedt. Photo: Private

But at the largest Swedish refinery, Preem, no positive effect has yet been noticed.

- So far, there are sufficient oil stocks. There is a long-term period of significant decline in oil production for us to notice any difference in demand for our products, ”says Dani Backteg, Press Manager at Preem.