Iran, Turkey's 1st crude oil supplier in 1Q

Iran Materials 31 May 2011 13:05 (UTC +04:00)

Iran was Turkey's first crude oil supplier in the first three months of 2011, Turkey's Energy Market Regulatory Authority (EPDK) said in a report.

Iran exported over 1.8 million tons of crude oil to its neighboring country during the mentioned period, accounting for 30 percent of Turkey's crude imports, IRNA reported.

Turkey's oil imports reached a total of 4.295 million tons in the mentioned time span.

Iran also is Turkey's second natural gas supplier after Russia.

The value of trade between Iran and Turkey surpassed 2.1 billion during the first two months of 2011.

The two countries' trade value stood at $10.6 billion in 2010, which was 97 percent more than 2009.

Previously, Turkish Statistical Institute reported that the two countries' trade value will surpass 15 billion dollars in 2011 by enforcing the inked preferential trade agreement.

President Mahmoud Ahmadinejad in February announced that the value of trade between Iran and Turkey will reach $30 billion during Iranian calendar year 1390 (to end March 20, 2012).

Ahmadinejad made the remarks during a joint press conference with Turkish President Abdullah Gul.

"The value of trade exchanges between the two countries surpassed 10 billion dollars last year and we are determined to increase it to 30 billion dollars through comprehensive cooperation," Ahmadinejad stated.