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.
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.

Related Articles

France’s Voltalia wins €100mn photovoltaic tender in Albania

French renewables company Voltalia has won a tender for the construction of the 140 MW Karavasta photovoltaic park in southern Albania worth €100mn, Albanian PM Edi Rama announced on May 27. The ... more

Polish and Baltic states’ power grid operators ask EU for €1.2bn to fund syncing of their energy systems

The Polish power grid operator PSE, together with its peers from Estonia, Latvia, and Lithuania, jointly filed for €1.2bn of EU funding to advance the project to sync the Baltic states’ grids ... more

Azerbaijani gas reaches Albania as TAP project moves nearer to EU deliveries

The Trans Adriatic Pipeline (TAP) project—the last pipeline link required for Azerbaijan to meet its ambition of exporting natural gas to the European Union—has started introducing its ... more

Dismiss