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SOCAR plant in Turkey cuts sharply Russian oil purchases

25.09.2020,11:45


September 25, Fineko/abc.az. Star Refinery, an oil refining enterprise constructed by SOCAR on Turkish peninsula Aliaga, has sharply reduced purchases of crude Russian Urals this year and is currently looking for better deals.

ABC.AZ reports that according to the traders, the refinery is gradually giving preference to oil grades from Iraq and Norway.

High competition in the market and lower oil production under the OPEC+ agreement are cited as reasons for the decline in sales of Urals crude.