Friday, 09 June 2023 11:27 GMT

Turkey’s Oil Industry in January: Imports Decline, Refinery Exports Rise

(MENAFN) According to the Energy Market Regulatory Authority (EMRA), the total amount of oil imports into Turkey in January fell by 3.63 percent to 3.45 million tons. The highest volume of oil imports, which is crude oil, decreased by 13.6 percent to 2.25 million tons in the same period, as indicated in the monthly report of EMRA. The country's primary source of oil and oil products was Russia, with imports totaling 1.18 million tons in January. Iraq and Kazakhstan followed with 917,656 tons and 683,740 tons, respectively.

On the other hand, oil refinery product exports went up by 7.3 percent to 2.2 million tons, while oil production output decreased by 10.8 percent to 2.68 million tons. Despite this decrease, the oil industry in Turkey remained active, and the nation's total domestic oil product sales increased by 7.31 percent year over year in January to 275,594 million tons.

Overall, these data points signify that the oil sector in Turkey is still robust, despite some fluctuations in certain areas. The country's dependency on Russia for oil imports remains high, but it is worth noting that imports from other countries such as Iraq and Kazakhstan are also substantial. The increase in oil refinery product exports indicates that Turkey is a significant player in the global oil market, and the growth in domestic oil product sales is a positive indicator of the country's economic progress.


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