Turkey: pity the poor refiner | beyondbrics:
"It’s difficult not to feel sympathy for the management of Tupras, Turkey’s sole oil refiner.
For the past two years the company has been walking the tightrope between the Turkish and US government positions on its crude imports from Iran, which at their peak of 9.25 million tonnes in 2011 accounted for more than half of the crude it processed.
On the one hand, the Turkish government seemed content to accept the crude at a small discount on market prices which it could then pass on to Turkish consumers, and at the same time gain some leverage in Tehran. On the other, the US has continually pressed for Turkey to join the international embargo and end crude imports from Iran."
'via Blog this'
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