Oil imports rose 12 percent in August

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Turkey’s oil imports increased by 12 percent from a year ago to climb to 4.2 million tons in August, a report by the energy market regulator EPDK has shown.

According to the report, the country imported some 3 million tons of crude oil in the month, pointing to a strong 46.1 percent increase on an annual basis.

Russia was the largest supplier in August as Turkey purchased 1.1 million tons of crude from this country. Iraq ranked second largest supplier with 1 million tons, followed by Kazakhstan with 455,000 tons.

The EPDK also reported that Turkey’s diesel oil purchases from other countries plunged more than 27 percent on an annual basis to 937,680 tons in August.

Last year, the country’s total oil imports declined by 9.2 percent from 2017 to stand at 38.7 million tons, with crude oil imports falling 18.6 percent to 21 million tons.

In 2018, Turkey imported 13.8 million tons of diesel oil, a 2.18 percent change from the previous year.

Fuel oil product purchases from other counties showed a sharp 33 percent decline to 554,000 tons in 2018.

On the production side, the EPDK reported that Turkey’s refinery oil products’ output increased by 23.8 percent in August from a year earlier to 3.3 million tons.

Diesel oil production rose 33.9 percent to 1.3 million tons and gasoline products output exhibited a 5.2 percent rise to 471,000 tons.

Total oil products sale on the domestic market amounted to 2.8 million tons, marking a 3.4 percent increase on an annual basis.

Hurriyet  Daily News

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