Türkiye's export of petroleum products increased by 66.4% last December, compared to the same month of 2022, marking the biggest growth year-on-year.
Total exports of petroleum products totaled 1.3 million tons in December 2023 in Türkiye, which has an annual crude oil processing capacity of 42 million tons, according to the Energy Market Regulatory Authority's (EMRA) petroleum market sector report.
Export of aviation fuels reached 515,300 tons while diesel, gasoline and marine fuels exports totaled 266,500 tons, 258,200 tons and 53,400 tons, respectively.
The country imported 31.39 million tons of crude oil last year. Total imports increased by 15.7% year-on-year in December and reached 4.3 million tons, of which 2.9 million tons were crude oil, 1 million tons were diesel types and the rest were other petroleum products.
Total petroleum products production of refineries rose by 18.20% to 3.2 million tons in December 2023 compared to the same month of the previous year.
Imported crude oil is processed domestically at the Turkish Petroleum Refineries (TUPRAS) and SOCAR Türkiye's Star refinery. The annual crude oil processing capacity of these refineries reaches 42 million tons.
Diesel production increased by 8.81% to 1.5 million tons, gasoline production increased by 53.9% to 550,000 tons and aviation fuels production increased by 68.37% to 510,000 tons while marine fuels production decreased by 26.87% to 42,600 tons, during the same period.
- Most exports to Netherlands
In the country-based distribution of exports, the US and European countries were the main destinations of Türkiye's petroleum products.
In December, 78% of exports were made to European countries and the US, while the highest exports were made to the Netherlands with 28.1% on a country basis.
The Netherlands was followed by the US with 14.1%, Romania with 8.6%, Spain with 7.6%, Lebanon with 4.8%, Slovenia with 4.6%, the UK with 3.9% and France with 3.8%.
Türkiye's most important supplier in terms of crude oil and petroleum products imports was Russia with a share of 68% in December 2023 and Iraq with a share of 11.72%, Oguzhan Akyener, the president of Türkiye's Energy Strategy & Political Research Center (TESPAM) told Anadolu.
According to Akyener, Russia offers great opportunities to Türkiye in terms of crude oil and diesel supply.
'In particular, the current sanctions processes have paved the way for the supply of Russian products at much more reasonable prices, contributing to an increase in profit margins for the Turkish fuel sector.' he said.
He added that Türkiye's constructive relationship model with Russia, based on a policy of balance, has contributed to the utilization of many opportunities in terms of oil and natural gas.
Exports increased by 66% compared to the same period of the previous year, Akyener said and added that the opportunities provided by the international environment were undoubtedly effective in this.
By Gokce Tobas and Fuat Kabakci
Anadolu Agency
energy@aa.com.tr