Turkey to replace most imported Iranian oil with Saudi oil

Oil&Gas Materials 6 October 2012 11:07 (UTC +04:00)

Azerbaijan, Baku, Oct.6 / Trend, A.Taghiyeva /

In connection with the U.S. sanctions against Iranian oil sector, Turkey intends to replace part of oil imported from this country with Saudi oil, CNN Turk TV channel reported.

Saudi Oil Minister Ali Al-Naimi, who is on a visit to Turkey, promised the authorities to fill up oil shortage, if the country refuses from Iranian supplies.

Specific amounts of supplies from Saudi Arabia are not disclosed, however, it is noted that Turkey intends to significantly reduce imports of Iranian oil

Oil imports into Turkey in July 2012 decreased by 22 percent compared to the previous month, reaching 1.4 million tons, a report of the Turkish Energy Market Regulatory Authority (EPDK) said.

Oil imports in January-July 2012 decreased by 1.8 percent, compared to the same period in 2011, amounting to 10.6 million tons.

Turkey imports 8 million tons of oil and eight billion cubic meters of gas from Iran annually.

The U.S. and other Western countries accuse Iran of developing nuclear weapons under cover of peaceful nuclear energy program. Tehran denies the charges, saying its nuclear program is exclusively peaceful. So far, the UN Security Council has adopted six resolutions to stop Iran's nuclear program and uranium enrichment process. Four of these resolutions provide for economic sanctions against the country.