Overview
- Sources tell Reuters that SOCAR’s STAR refinery purchased four December cargoes from Iraq, Kazakhstan and other suppliers, equal to roughly 77,000–129,000 barrels per day of non-Russian crude.
- Kpler data show STAR had relied almost entirely on Russian oil in September and October at about 210,000 barrels per day, indicating a sharp shift in feedstock.
- Tupras is boosting non-Russian grades and is likely to cease Russian crude at one refinery to preserve fuel exports to Europe, while it has added Brazilian and Angolan barrels to its slate.
- Turkey imported about 669,000 barrels per day in January–October, with 47% from Russia, and November Iraqi flows are set to rise to 141,000 barrels per day from 99,000 in October, according to Kpler.
- The reordering extends to Asia as Indian buyers line up alternatives such as Upper Zakum and Chinese refiners cancel or pause Russian cargoes, with Rystad estimating about 45% of China’s Russian intake affected and Urals trading at a deeper discount.