Should Turkey reduce its oil imports?


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According to the Turkish Oil Market Sector Report for December issued by the Energy Market Regulatory Authority.

Turkey’s total oil imports decreased by 22.3 percent compared to the same month of last year, with a gap estimated by 2 million, 828 thousand and 22 tons.

During this period, 490,904 tons of the crude oil imports were from Iraq, followed by Russia with 460,912 tons, and Nigeria with 412,506 tons.

In the mentioned period, diesel imports decreased by 24.5 percent to 612,174 tons. Jet fuel, marine fuels, fuel oils and other products made up the remainder of the imports.


Thus, Turkey’s total oil imports last year decreased by 22.3 percent compared to the same month of 2019, reaching 2 million, 828 thousand and 22 tons.

As a result of the measures taken to combat the new type of Coronavirus (Covid-19), there was a decrease in demand for petroleum products, which affected the decline in oil imports.

Whereas, in December of last year, gasoline sales decreased by 18.8% compared to the same month of the previous year, and became 155 thousand and 407 tons.

While diesel sales decreased by 3 percent to 2 million, 45 thousand and 119 tons.

Total sales of petroleum products increased by 5.6 percent in the relevant period to 2 million 295 thousand 821 tons.


A decrease in exports of petroleum products by 39.2 percent

Aviation fuel exports decreased by 67% in the same period to reach 145,574 tons.

Due to restrictions applied to prevent the spread of the Coronavirus outbreak, as the global aviation industry was halted, causing a decrease in jet fuel exports.

On the other hand, marine fuel exports decreased by 29 percent to 37,582 tons.

The aforementioned period witnessed a decrease in diesel exports by 24.7% to 221 thousand and 204 tons, and exports of gasoline types decreased by 29.5% to 195 thousand and 925 tons.

Thus, total exports in the petroleum market, along with other products, decreased by 39.2 percent and 724,268 tons were identified.


0.7% decrease in the production of petroleum products

While the production of diesel varieties increased by 13.8 percent in December compared to the same month of the previous year, it increased to one million 427 thousand and 937 tons, while the production of gasoline types decreased by 19.3 percent to 366 thousand 92 tons.

As aviation fuel production reached 213 thousand 83 tons, down 56.2 percent, and marine fuel production reached 52 thousand and 704 tons, down 16 percent.

In addition to other fuels, the total refineries production of petroleum products decreased by 0.7 percent to 2 million 835 thousand and 910 tons.