Russian oil supplies to Türkiye in November increased significantly compared to October. The main volumes were received by the refinery, which belongs to an Azerbaijani state company.
In November, Russian oil supplies to Turkish ports increased to 9.9 million barrels per month. Since October, shipments to the Urals have increased by 38%. This was reported by Reuters based on its own monitoring data.
The agency explains the increase in exports to Türkiye by the fact that the Star refinery of the Azerbaijani state company Socar completed a major renovation and resumed operations. The plant’s capacity increased by 2% to 13 million tons per year (more than 95 million barrels).
Socar is the main consumer of Russian oil in Türkiye. The refinery purchased raw materials from Russia both on the spot market and through a long-term contract, mainly from Lukoil.
As Reuters points out, Tupras, which owns two refineries, in Izmir and Izmit, is also a large consumer of Russian oil.
As reported EADailyThe main new market for Russian oil since the start of the North Atlantic Treaty Organization and the introduction of sanctions by the EU and G7 has become India. During the nine months of this year, Indian refiners imported 472 million barrels of Russian oil. This is 2% more than in January-September 2023. At the same time, local companies’ costs for Russian oil increased further. If in the nine months of 2023 they spent $33.4 billion on raw materials, this year they spent almost $5 billion more, $38.3 billion.
