BREAKING NEWS

Turkey cuts Iranian oil imports in April vs March

By REUTERS

MAY 14, 2012 16:13

LONDON - Turkey's cut its crude oil imports from Iran steeply in April from unusually high levels in March but its purchases were still close to last year's average, meaning Ankara has yet to slash buying to the extent sought by Washington, data from shipping sources showed.

Turkey said on March 30 that it would cut imports of oil from Iran by 20 percent from last year's quantities, ceding to US pressure to reduce purchases.

Turkey's state refining company Tupras took around 5.3 million barrels of Iranian crude in April, or around 177,000 barrels per day (bpd), according to shipping agency data from its two import terminals Tutunciftlik and Aliaga.

While Turkey has reduced imports by 100,000 bpd compared with March, this is a reduction from an unusually high month. April imports are only marginally below its 2011 average of 200,000 bpd.

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