Largest Turkish refiner Tupras ‘has cut runs at Izmir refinery by 50% due to pandemic impact on fuel demand’

Largest Turkish refiner Tupras ‘has cut runs at Izmir refinery by 50% due to pandemic impact on fuel demand’
Tupras' Izmir refinery is feeling the pain as the coronavirus keeps the Turkish motorist at home. / Tupras.
By bne IntelIiNews March 30, 2020

Largest Turkish refiner Tupras has reportedly cut runs at its Izmir refinery by 50% due to weak fuel demand brought about by the coronavirus (COVID-19) pandemic.

Four trading sources described the situation to Reuters on March 30.

Tupras has also reduced runs at its Izmit refinery by 20% and its Kirikkale refinery by 50%, they were also cited as saying.

Tupras started to cut refinery runs around the middle of March, two of the sources were further quoted as saying, but it was not clear when exactly the runs were reduced at each refinery.

Tupras is a big consumer of Mediterranean oil grades such as Russian Urals and Siberian Light as well as Kazakhstan’s CPC Blend, which it normally purchases via tenders.

“They’ve cut purchases a lot. There were no buy tenders for over a month now,” said one quoted trader in the Mediterranean oil market.

Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Renewables could power 80% of data centres, Goldman Sachs says

Renewables can supply the vast majority of power required for the growing demand of energy needed to operate data centres, research by Goldman Sachs published on January 23 revealed. Power demand ... more

China raises imports of Russian LNG by 3.3% in 2024

China has increased its reliance on Russian LNG with imports rising 3.3% to reach 8.3mn tonnes in 2024, Russian news agency Tass reported on January 20. Total imports of the ... more

TPAO arm contracts Subsea7 for Sakarya gas field work offshore Turkey

Turkish Petroleum Offshore Technology Centre AS (TP-OTC) has contracted international offshore service provider Subsea7 to provide inspection, repair and maintenance (IRM) services at the Sakarya ... more

Follow Us On

Most Read

  1. Serbia goes on strike
    6 days ago
  2. COMMENT: Is Latin America prepared for Trump 2.0?
    3 days ago
  3. Britain’s Royal Navy mistakes whale fart for Russian drones
    3 days ago
  4. PANNIER: Taliban’s relations with Central Asia imperilled as Trump turns off aid taps
    3 days ago
  5. Bomb threats to schools in Hungary traced to emails sent through Yandex platform, IT experts say
    7 days ago
  1. BRICS expands membership, adding Indonesia, Malaysia, and Thailand
    1 month ago
  2. Global access to energy starts to fall for the first time in a decade, says IEA
    6 months ago
  3. Nicaragua unveils new canal route in bid to rival Panama
    2 months ago
  4. IEA: Access to energy improving worldwide, driven by renewables
    1 month ago
  5. Russia seeks to expand its nuclear energy dominance with new international projects
    1 month ago

Reports

Dismiss