Oil imports increase slightly in February

Türkiye's total oil imports inched up 0.58 percent in February from a year ago to 3.25 million tons, data from the Energy Market Regulatory Authority (EPDK) have shown.

The country reduced its purchase of crude oil by 14 percent year-on-year to 2.02 million tons, while diesel product imports grew more than 26 percent from February 2022 to 848,300 tons.

Russia was the largest supplier. Imports of crude oil and other oil products from Russia stood at 1.62 million tons, accounting for 50 percent of all imports.

Iraq ranked second with a 19 percent share, or 610,000 tons, followed by Kazakhstan with 11.2 percent, or 362,000 tons.

Total oil product sales in Türkiye increased by 1.1 percent in February compared with the same month of 2022 to 2.34 million tons. Gasoline sales rose 12 percent to 257,000 tons, and diesel sales fell 2 percent to 1.8 million tons.

The EPDK also reported that Türkiye's liquefied petroleum gas (LPG) imports rose more than 43 percent in February from a year ago to 288,000 tons.

Türkiye increased its LGP imports from Algeria by 44 percent to 116,000 tons, corresponding to 40.3 percent of all imports. Imports from the U.S. grew 66 percent compared with February 2022 to around 111,000 tons.

Russia was the third largest supplier of LGP at 24,500 tons, which translated into an annual increase of 204 percent. LGP imports from Kazakhstan grew nearly 40 percent year-on-year to around 24,000 tons.

Türkiye's domestic production of LGP declined 30.7 percent in February from a year ago to 59,342 tons, data from the EPDK showed.