Oil in Turkey

In the first half of 2024, Western allies, including Bulgaria, the European Union and the United States, purchased around 2 billion dollars worth of oil products from Turkey that were refined from Russian crude oil, according to a report by the Center for the Study of Democracy (CSD) and the Center for Energy and Clean Air (CREA).

Tüpraş refinery has said that the oil previously purchased from Iraq's state oil company will be delivered in September.

The oil tanker St. Nikolas, carrying around 1 million barrels of crude oil purchased from the Iraqi state oil company SOMO, was seized by Iranian authorities in the waters of Oman on Jan. 11, the energy giant said in a statement.

In a significant move reflecting shifting dynamics in global oil trade, Turkey's Dortyol terminal, a key Mediterranean oil hub, has announced its decision to cease accepting Russian oil imports. This decision comes in response to mounting pressure from US sanctions and signals a notable departure from Turkey's recent reliance on Russian crude.