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

Russia inks Power of Siberia 2 pipeline memorandum with China and Mongolia

Russia has signed a "legally binding memorandum" on the construction of a second gas pipeline to China, Power of Siberia 2, including a transit branch, Soyuz Vostok, that will run across Mongolian ... more

Druzhba oil flow to Slovakia and Hungary is renewed

The oil flow from the Russian Druzhba pipeline was renewed late on August 19. “The flow of oil to Slovakia is standard at the moment,” the country’s Minister of Economy Denisa Saková (Hlas) ... more

EBRD boosts Montenegro’s flagship wind farm with €26mn loan

The European Bank for Reconstruction and Development (EBRD) said on August 19 that it is deepening its support for Montenegro’s green transition with an additional €26mn loan to expand the Gvozd ... more

Follow Us On

Most Read

  1. Renewable capacity growth is faster than ever, but more acceleration needed to meet Paris 2030 goal, says IEA
    1 year ago
  1. Renewable capacity growth is faster than ever, but more acceleration needed to meet Paris 2030 goal, says IEA
    1 year ago
  2. Kyrgyzstan abandons attempt to rescue Russian climber trapped on icy summit of country’s highest mountain
    20 days ago
  3. BERTRAND: China after Communism, preparing for a post-CCP China
    1 month ago
  4. UKRAINE REMONT: The battle to build: signs of recovery in Ukraine's construction industry
    5 months ago

Reports

Dismiss