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Türkiye Doubles Russian Oil Imports, Filling EU Void

Russia's President Vladimir Putin (R) shakes hands with Türkiye's President Tayyip Erdogan during a meeting in Sochi, Russia November 13, 2017. REUTERS/Pavel Golovkin/Pool/File Photo
Russia's President Vladimir Putin (R) shakes hands with Türkiye's President Tayyip Erdogan during a meeting in Sochi, Russia November 13, 2017. REUTERS/Pavel Golovkin/Pool/File Photo
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Türkiye Doubles Russian Oil Imports, Filling EU Void

Russia's President Vladimir Putin (R) shakes hands with Türkiye's President Tayyip Erdogan during a meeting in Sochi, Russia November 13, 2017. REUTERS/Pavel Golovkin/Pool/File Photo
Russia's President Vladimir Putin (R) shakes hands with Türkiye's President Tayyip Erdogan during a meeting in Sochi, Russia November 13, 2017. REUTERS/Pavel Golovkin/Pool/File Photo

Türkiye doubled its imports of Russian oil this year, Refinitiv Eikon data showed on Monday, as the two countries are set for broader cooperation in business and especially energy trade in the face of western sanctions against Moscow.

Trade between Türkiye and Russia has been booming since spring as Turkish companies not banned from dealing with Russian counterparts stepped in to fill the void created by EU businesses leaving Russia after its invasion of Ukraine earlier this year. Russia calls its actions in Ukraine 'a special military operation.'

Türkiye increased oil imports from Russia, including Urals and Siberian Light grades, beyond 200,000 barrels per day (bpd) so far this year compared to just 98,000 bpd for the same period of 2021, Refinitiv data showed, Reuters reported.

Türkiye did not sanction Russia due to its actions in Ukraine, saying it remains reliant on Russian energy supplies.

Russian President Vladimir Putin and Turkish President Tayyip Erdogan met early in August and agreed to boost business cooperation.

Türkiye's main refiners Tupras and Azerbaijan's SOCAR's STAR refinery significantly increased intake of Russian Urals and Siberian Light oil this year, while decreasing purchases of North Sea, Iraqi and West African grades, the data showed.

Over the last few years, STAR refinery increased purchases of Norway's Johan Sverdrup and Iraqi oil grades, which are close in quality to Urals as Russian oil has been growing in price.

This year, Russian oil prices fell to historical lows against the dated Brent benchmark, while North Sea and Iraqi oil grades prices improved.

STAR refinery is expected to purchase about 90,000 bpd of oil from Russia during January to August 2022 compared to 48,000 bpd during the same period of the last year, Refinitiv Eikon data showed.

Tupras refineries will buy about 111,000 bpd of oil from Russia in January to August this year compared to just 45,000 bpd during the same period last year, according to the data.

"The choice for Türkiye's refiners was obvious as they have no limits on Russian oil buying", a trader in the Mediterranean oil market said, who declined to be named as he is not authorized to speak to the press.

He added that good Urals oil refining margins supported Türkiye's refiners profits.

Türkiye's Energy ministry, Tupras and SOCAR did not immediately respond to Reuters for comments.

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Large Earthquake Hits Battered Vanuatu

A vehicle is trapped beneath a collapsed building following a strong earthquake in Port Vila, Vanuatu, December 17, 2024, in this screengrab taken from a social media video. Jeremy Ellison/via Reuters
A vehicle is trapped beneath a collapsed building following a strong earthquake in Port Vila, Vanuatu, December 17, 2024, in this screengrab taken from a social media video. Jeremy Ellison/via Reuters
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Large Earthquake Hits Battered Vanuatu

A vehicle is trapped beneath a collapsed building following a strong earthquake in Port Vila, Vanuatu, December 17, 2024, in this screengrab taken from a social media video. Jeremy Ellison/via Reuters
A vehicle is trapped beneath a collapsed building following a strong earthquake in Port Vila, Vanuatu, December 17, 2024, in this screengrab taken from a social media video. Jeremy Ellison/via Reuters

A magnitude-6.1 earthquake rattled buildings on Vanuatu's main island early Sunday but did not appear to have caused major damage, five days after a more powerful quake wreaked havoc and killed 12 people.

The nation's most populous island, Efate, is still reeling from the deadly 7.3-magnitude temblor on Tuesday, which toppled concrete buildings and set off landslides in and around the capital of Port Vila.

The latest quake occurred at a depth of 40 kilometers (25 miles) and was located some 30 kilometers west of the capital, which has been shaken by a string of aftershocks.

No tsunami alerts were triggered when the temblor struck at 2:30 am Sunday (1530 GMT Saturday).

Port Vila businessman Michael Thompson told AFP the quake woke his family.

"It gave a better bit of a shake and the windows rattled a little bit, it would have caused houses to rattle," he said.

"But you know, no movement other than a few inches either way, really. Whereas the main quake, you would have had like a meter and a half movement of the property very, very rapidly and suddenly.

"I'd describe this one as one of the bigger aftershocks, and we've had a fair few of them now."

Thompson said there was no sign of further damage in his immediate vicinity.

The death toll remained at 12, according to government figures relayed late Saturday by the United Nations' humanitarian affairs office.

It said 210 injuries had been registered while 1,698 people have been temporarily displaced, citing Vanuatu disaster management officials.

Mobile networks remained knocked out, making outside contact with Vanuatu difficult and complicating aid efforts.

In addition to disrupting communications, the first quake damaged water supplies and halted operations at the capital's main shipping port.

The South Pacific nation declared a seven-day state of emergency and a night curfew following the first quake.

It announced Saturday it would lift a suspension on commercial flights in an effort to restart its vital tourism industry.

The first were scheduled to arrive on Sunday.

Rescuers Friday said they had expanded their search for trapped survivors to "numerous places of collapse" beyond the capital.

- Still searching -

Australia and New Zealand this week dispatched more than 100 personnel, along with rescue gear, dogs and aid supplies, to help hunt for trapped survivors and make emergency repairs.

There were "several major collapse sites where buildings are fully pancaked", Australia's rescue team leader Douglas May said in a video update on Friday.

"We're now starting to spread out to see whether there's further people trapped and further damage. And we've found numerous places of collapse east and west out of the city."

Thompson said power had been restored to his home on Saturday but said many others were still waiting.

"We're hearing a lot of the major businesses are still down, supermarkets are trying to open back up," he said.

"So this is very different to what's happened with disasters here in the past.

"Cyclones destroy everything outside, whereas earthquakes really destroy a lot of infrastructure inside the buildings."

Vanuatu, an archipelago of some 320,000 inhabitants, sits in the Pacific's quake-prone Ring of Fire.

Tourism accounts for about a third of the country's economy, according to the Australia-Pacific Islands Business Council.