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Turkey's Iranian crude imports halved in September

Business Materials 31 October 2012 13:39 (UTC +04:00)
Turkey's crude oil imports from Iran halved to 110,308 barrels per day (bpd) in September from August while imports from alternative suppliers were on the rise.
Turkey's Iranian crude imports halved in September

Turkey's crude oil imports from Iran halved to 110,308 barrels per day (bpd) in September from August while imports from alternative suppliers were on the rise, official trade data showed on Wednesday, Reuters reported.

Iraq was Turkey's biggest crude supplier in September with imports reaching 115,447 bpd.

Saudi Arabia, Russia, Azerbaijan and Libya were among the others. Turkey's state oil refiner Tupras imported two 140,000 tonne cargoes and one 145,000 tonne cargo to one of its oil import terminals, Tutunciflik, in September.

The crude oil was lifted from the Egyptian port of Sidi Kerir, the end of the Sumed pipeline linking the Red Sea to the Mediterranean.

Imports previously jumped in August to more than 221,000 bpd, official Turkish trade data showed, after sinking to a multi-year low in July.

The European Union oil embargo against Iran came into full force on July 1 and also targeted the region's marine insurance sector, which effectively cut off the usual avenues for tanker insurance.

Tupras was unable to insure its own tankers to lift Iranian crude starting from July and had to switch to Iranian-owned oil tankers.

Turkey was granted a waiver on Iranian oil by the United States for 180 days from June 11 after Ankara made an initial 20 percent import cut before sanctions came into effect.

Edited by: S. Isayev

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