It was expected that Turkey would increase purchases with the onset of restrictions, but as the publication writes, the scale is striking: 10 million barrels in March is almost 50% more than in February. This volume is enough to fully meet the country's needs for several weeks. "Turkey wins the most because it gets access to a problematic Russian Gasoile/Diesel. It also means that Russia finds a buyer for its supply," said Juzhin Lindel, the head of the Facnces Global Energy consulting company.
The total import rates in Turkey have increased in March thanks to supply from Russia. As for exports, it was relatively stable. The influence of recent destructive earthquakes on the needs of the country of import of diesel fuel is difficult. "The only logical conclusion about Turkey is that the refining system works at a much lower level. Whether it is related to the earthquake, it is still necessary to find out," Lindell said.
In addition, on March 22, it became known that in Russia they want to review the issue of taxation of oil companies to increase government revenues at the expense of a greater share of sales of crude oil. The oil embargo on oil supplies from Russia to the EU came into force on December 5, 2022. The ceiling of prices for Russian oil was set at $ 60 per barrel. According to the International Energy Agency, in January 2023, Russian oil revenues amounted to $ 13 billion - 36% less than a year earlier.
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