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Rise in oil prices increases Turkey's expenses for its purchase

Iran Materials 4 August 2006 11:25 (UTC +04:00)

Following a rise in world crude prices Turkey increases expenses for purchase of this fuel, Trend special correspondent in Turkey reports.

Over the first 6 months of 2006 Turkey paid for every barrel $16.8 more than last year. Turkey paid $5.1bn for import of 82.3 million barrels of crude oil in the first half-year of 2006, or $5.1m more than 2005.

Despite 1.5% cut in oil import over the first 6 months 2006 the sum over for its repayment exceeded the last year figure by 35.2%.

Over the past year Turkey imported 171.4 million barrels of crude oil worth $8,649 billion. In case of purchase of this oil volume this year, expenses for purchase at current prices might exceed $10bn.

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