Turkish refiner works to cut dependence on Iranian oil

PanARMENIAN.Net - Turkish refiner Tupras is working on a plan to cut its dependence on imports of Iranian oil as Western powers aim to crack down on the Islamic Republic's oil sales, industry sources familiar with the company's strategy said Thursday, January 19.

Turkey imports more than 30 percent of its daily consumption from Iran and has so far given no indication that it will comply with a planned EU import embargo on Iranian crude.

One source said that Tupras was planning to meet Saudi Arabian oil authorities this month with a view to switching to alternative crude sources by the summer, according to Reuters.

"I think the meeting is to learn the supply capacity ahead of (state oil company Saudi) Aramco's other clients," said a second industry source, adding that Iranian threats to shut the Strait of Hormuz had prompted Tupras to approach new suppliers.

Tupras declined to give an immediate comment.

A Saudi source said the kingdom's oil authorities were getting more orders to replace Iranian crude, but declined to comment on specific requests.