Turkey Begins Purchasing Libya Crude Oil After Iran Cut

April 4, 2012
Turkish Energy & Natural Resources Minister Taner Yildiz has said Turkish Petroleum Refineries Co. (TUPRAS) had started purchasing approximately 1 million tons crude oil from Libya.

Yildiz told reporters on Monday in Ankara that TUPRAS had started purchasing nearly 1 million tons crude oil from Libya.

"With the purchase, Turkey will meet its domestic demand as well as we will help Libya become normal," Yildiz said.

Yildiz also stated, "Turkey buys a little amount of crude oil from Iraq. There will be no difficulty receiving the crude oil from Iraq."

"There will be no cut on oil prices unless political tension stops escalating in the Middle East," said Yildiz following a question about oil prices in Turkey.

Yildiz said on Friday Turkey would reduce the amount of oil it buys from Iran by around 10 percent, a week after Washington warned Iran's customers they could be subject to U.S. sanctions unless they significantly cut purchases.

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