Baku, Azerbaijan, August 27
By Umid Niayesh - Trend:
Iran’s crude oil export to Turkey registered a sharp fall by 69 percent in June compared to the preceding month.
According to the latest report released by Turkey’s Energy Market Regulatory Body, the Islamic Republic exported 287,842 tons of crude oil to Turkey in June.
The figure was over 930,970 tons in the preceding month, when Iran’s crude export accounted for 52 percent of Turkey’s crude oil import.
Iran became Turkey’s third crude oil supplier in June with a share of 16 percent, following Iraq (35 percent) and Russia (21 percent).
However, the country stood at the top of Turkey’s crude oil suppliers in January-June, supplying over 46 percent of the country’s oil demand.
The Islamic Republic exported 4.3 million tons of crude oil to Turkey in the first half of 2018.
Turkey’s overall crude oil import amounted to 9.2 million tons in the same span of time.
After Iran, Iraq (19.4 percent), Saudi Arabia (9.5 percent), Kuwait (8.9 percent) and Russia (7 percent) were other top crude oil exporters to Turkey in the 6-month period.
|
June |
Share |
January - June |
Share |
|
|
Russia |
378 415.56 |
21 |
651 205.84 |
7.0 |
|
Iran |
287 842.71 |
16 |
4 296 021.74 |
46.5 |
|
Kuwait |
145 498.22 |
8 |
819 905.02 |
8.9 |
|
Saudi Arabia |
143 265.09 |
8 |
879 633.08 |
9.5 |
|
Iraq |
646 262.40 |
35 |
1 790 386.30 |
19.4 |
|
Kazakhstan |
146 756.49 |
8 |
448 937.32 |
4.9 |
|
Nigeria |
0 |
125 857.03 |
1.4 |
|
|
Greece |
0 |
57 327.57 |
0.6 |
|
|
Libya |
83 897.24 |
5 |
83 897.24 |
0.9 |
|
Italy |
0 |
86 990.86 |
0.9 |
|
|
Total |
1 831 937.70 |
100 |
9 240 162.00 |
100.0 |
Before it got hit with sanctions in 2012, Iran was exporting 2.5 mb/d of crude oil and gas condensate, of which 18 percent was supplied to the EU.
After 2012, the EU cut Iran oil purchase and Asian countries had to decrease Iranian oil import gradually, which led to a drop in export of Iranian oil and gas condensate to 1.2 mb/d in 2015.
After elimination of sanctions in 2016, based on nuclear agreement, Iran resumed its oil exports.
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Follow the author on Twitter: @UmidNiayesh
