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Oil Export to Turkey Doubles
Oil Export to Turkey Doubles

Iran Oil Export to Turkey Doubles

Iran Oil Export to Turkey Doubles

Iranian oil export to Turkey increased more than two times to 211,101 barrels per day during the first quarter of 2017 from the same period last year. According to the statistics released by Turkey’s Energy Market Regulatory Authority, Iran exported more than 2.62 million tons of oil to the country in January-March, Zawya reported.

Iran also delivered 2.41 billion cubic meters of gas to Turkey in the same period, about 240 million cubic meters more than the first quarter of 2016. Turkey is Iran’s main gas importer.

Iran exported 7.7 billion cubic meters of gas as well as 6.6 million tons of crude oil to Turkey in 2016. Iran used to sell around 800,000 bpd to European buyers before the tightening of international sanctions in 2011 and 2012.

Tehran has staged a strong rebound in oil output and exports after sanctions were lifted in January 2016.

It is now producing close to 4 million barrels of oil and condensates per day, with exports reportedly at 2.8 million barrels per day.

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