Filled the void: Turkey has increased more than 2 times the purchase of oil in
In 2021, this figure was at 98 thousand barrels per day. "Turkish companies are not forbidden to deal with Russian partners. They fill the void after leaving the Russian companies market because of the start of a full -scale war in Ukraine," experts say.
The Main Turkish Oil Production Plants (Refinery) TUPRAS and the Azerbaijani Socar Star have significantly increased the consumption of Russian oil Urals and Siberian Light this year, reducing the purchases of North Sea, Iraqi and Western African varieties. The last few years of Star's refinery has increased the purchases of Norwegian oil Johan Svesrdrup and Iraqi oil, close in quality to the Urals, as Russian oil has increased in price.
Prices for oil from the Russian Federation have fallen to the historic minimum when compared to the Brent, oil from the North Sea and Iraq, on the contrary, went up. Refinitiv Eikon reports that the Star NSP will buy about 90,000 barrels of Russian oil in January-August this year. In the same month of 2021, the company purchased 48 thousand barrels per day. Turkish refineries TUPRAS will buy about 111,000 barrels of oil in Russia in January-August 2022.
During the same period last year, they bought only 45 thousand barrels. The trader in the Mediterranean oil market in communication with Reuters stated the obvious choice of Turkish partners. No one was restricted in the purchase of Russian oil. Turkish refineries earn good profits after processing the Urals oil. Focus wrote earlier how Turkey uses the Russo-Ukrainian War to its interests. This country for Ukraine is a powerful neighbor with great ambitions.