Baku, Azerbaijan, May 31
By Umid Niayesh - Trend:
Iran stood at the top of Turkey’s crude oil suppliers in the first quarter of the current year, providing about half of the country’s oil demand.
According to the latest report released by Turkey’s Energy Market Regulatory Body, the Islamic Republic exported 2.1 million tons of crude oil to Turkey in January-March 2018, 20 percent less year-on-year.
Turkey’s overall crude oil import amounted to 4.13 million tons in the same span of time, 33.5 percent less compared to January-March 2017.
After Iran Iraq (13.7 percent), Kuwait (11 percent), Saudi Arabia (10.9 percent) and Russia were other top crude oil exporters to Turkey in the first quarter of 2018.
Iran’s share from Turkey’s crude oil market in March 2018 surged to 64.2 percent and stood at 858,600 tons.
|
Country |
January |
February |
March |
Total |
Share |
|
Russia |
193 309.99 |
79 480.29 |
- |
272 790.28 |
6.6 |
|
Iran |
575 456.16 |
643 294.80 |
858 630.09 |
2 077 381.06 |
50.3 |
|
Kuwait |
151 441.24 |
151 614.09 |
151 258.70 |
454 314.03 |
11.0 |
|
Saudi Arabia |
150 830.49 |
150 242.59 |
150 355.16 |
451 428.24 |
10.9 |
|
Iraq |
138 987.94 |
289 397.34 |
137 621.06 |
566 006.34 |
13.7 |
|
Kazakhistan |
53 305.27 |
40 000.00 |
93 305.27 |
2.3 |
|
|
Nigeria |
125 857.03 |
125 857.03 |
3.0 |
||
|
Italy |
86 990.86 |
86 990.86 |
2.1 |
||
|
Total |
1 476 178.98 |
1 314 029.11 |
1 337 865.01 |
4 128 073.10 |
100.0 |
Iran’s oil export amounted to 2.75 million barrels per day (mb/d) on average in the second calendar month (April 21- May 21), according to the latest data released by National Iranian Oil Company (NIOC).
The figure is below the exports in preceding month which hit 2.877 mb/d, a new record last one year.
The exports in the last calendar month included 2.45 mb/d of crude oil and 300,000 b/d of condensates.
Meanwhile in the preceding month, 2.6 mb/d of crude oil and 260,000 b/d of condensate were destined to global markets.
Before it got hit with sanctions in 2012, Iran was exporting 2.5 mb/d of crude oil and gas condensate, of which 18 percent was supplied to the EU.
After 2012, the EU cut Iran oil purchase and Asian countries had to decrease Iranian oil import gradually, which led to a drop in export of Iranian oil and gas condensate to 1.2 mb/d in 2015.
After elimination of sanctions in 2016, based on nuclear agreement, Iran resumed its oil exports.
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Follow the author on Twitter: @UmidNiayesh