Russia's Urals crude exports to Turkey hit 2-year low in February, say traders, LSEG data

Turkiye Petrol Rafinerileri AS

27/02/2025 12:22

MOSCOW, Feb 27 (Reuters) - February Urals crude loadings from Russia's western ports bound for Turkey fell to the lowest level since December 2022 after Turkey’s largest oil refiner Tupras stopped buying Russian oil, traders said and LSEG data showed.

Tupras said last week it has stopped buying Russian crude because of U.S. sanctions announced on January 10 against Russian energy companies and tankers carrying Russian oil.

Russia's oil loadings from its ports for delivery to Turkey, which are solely Urals crude, fell to average some 110,000 barrels per day (bpd) in February, down from some 370,000 bpd last month, LSEG data and Reuters calculations showed.

Turkey's seaborne imports of Russia's Urals crude will average some 250,000 bpd in February compared to 290,000 bpd in January, as the country continued to discharge Urals cargoes from the January lifting plan, the data shows.

In February Russia had to divert Urals cargoes from Turkey to Asia, mainly to India, trade sources said. India remains the largest importer of Urals cargoes delivered by sea.

Turkey has this month also ramped up imports of Libyan Es Sider and Amna grades as well as Nigerian Forcados Blend, LSEG shipping data showed.

 (Reporting by Reuters; Editing by Susan Fenton)