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TURKEY STEEPLY REDUCES IRANIAN CRUDE IMPORTS IN MAY
PanARMENIAN.Net
June 11, 2012 - 16:49 AMT
PanARMENIAN.Net - Turkey steeply reduced its imports of Iranian crude
oil in May, bowing to international pressure ahead of planned EU and
U.S. sanctions, shipping data seen by Reuters showed, according to
the news agency.
The figures show Turkey, the world's fifth-largest buyer of Iranian
oil in 2011, is holding to its pledge to cut imports from the Islamic
Republic after buying and stockpiling more Iranian oil from January
through April than it did last year.
Before May, Turkey was the only buyer in Europe to increase purchases
from Iran, while other European refiners cut back on imports of the
crude ahead of an impending EU oil embargo due to take effect from
July 1.
The latest round of U.S. sanctions come into effect on June 28 to
pressure Tehran into halting its nuclear program. The United States
this week is due to announce a list of countries it will exempt from
financial sanctions on oil trade with Iran if they make significant
reductions to the crude imports.
In the first four months of 2012, Turkey imported 210,000 barrels per
day of Iranian oil on average, including a huge 270,000 bpd in March,
much higher than its 2011 average of 185,000 bpd.
In May Turkey's state-controlled refining company, Tupras, imported
around 140,000 barrels per day (bpd), a 20 percent drop from its 2011
average, according to the latest shipping data, obtained by Reuters.
Port data showed 152,000 tonnes of Iranian crude was delivered to
the port of Aliaga in May, while 443,000 tonnes of Iranian crude
was delivered to its second import terminal, Tutunciflik. Tupras is
expected to import the same volume in June.
>From July 1, Turkey will remain effectively the sole buyer of Iranian
crude in Europe.
Official trade data showed that in the first four months of this year,
Iran accounted for about 58 percent of Turkey's near 6 million tonnes
in total crude imports.
The EU and U.S. widened sanctions at the start of the year on
suspicions that Iran is trying to develop atomic bombs, while
Iran insists its nuclear program is solely for civilian purposes,
Reuters said.
From: Baghdasarian
PanARMENIAN.Net
June 11, 2012 - 16:49 AMT
PanARMENIAN.Net - Turkey steeply reduced its imports of Iranian crude
oil in May, bowing to international pressure ahead of planned EU and
U.S. sanctions, shipping data seen by Reuters showed, according to
the news agency.
The figures show Turkey, the world's fifth-largest buyer of Iranian
oil in 2011, is holding to its pledge to cut imports from the Islamic
Republic after buying and stockpiling more Iranian oil from January
through April than it did last year.
Before May, Turkey was the only buyer in Europe to increase purchases
from Iran, while other European refiners cut back on imports of the
crude ahead of an impending EU oil embargo due to take effect from
July 1.
The latest round of U.S. sanctions come into effect on June 28 to
pressure Tehran into halting its nuclear program. The United States
this week is due to announce a list of countries it will exempt from
financial sanctions on oil trade with Iran if they make significant
reductions to the crude imports.
In the first four months of 2012, Turkey imported 210,000 barrels per
day of Iranian oil on average, including a huge 270,000 bpd in March,
much higher than its 2011 average of 185,000 bpd.
In May Turkey's state-controlled refining company, Tupras, imported
around 140,000 barrels per day (bpd), a 20 percent drop from its 2011
average, according to the latest shipping data, obtained by Reuters.
Port data showed 152,000 tonnes of Iranian crude was delivered to
the port of Aliaga in May, while 443,000 tonnes of Iranian crude
was delivered to its second import terminal, Tutunciflik. Tupras is
expected to import the same volume in June.
>From July 1, Turkey will remain effectively the sole buyer of Iranian
crude in Europe.
Official trade data showed that in the first four months of this year,
Iran accounted for about 58 percent of Turkey's near 6 million tonnes
in total crude imports.
The EU and U.S. widened sanctions at the start of the year on
suspicions that Iran is trying to develop atomic bombs, while
Iran insists its nuclear program is solely for civilian purposes,
Reuters said.
From: Baghdasarian