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Turkish Economy - News & Updates

What is the driving force behind Turkish Economic problem?

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Turkey oil imports rise 4 percent in first quarter

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The energy-dependent country paid $14 billion for 3.84 million tons of crude oil in January-March this year, government report says
World Bulletin/News Desk

Turkey's crude oil imports increased by nearly four percent in the first quarter of this year, according to a report of the government’s energy market regulator.

Turkey imported 3.84 million tons of crude oil in the January-March period of 2014, an increase of 3.9 percent over the same period last year and costing around $14 billion.

Ankara imported a total of 18.5 million tons of crude oil in 2013.

Turkey meets around 90 percent of its oil needs from foreign resources and crude oil imports are expected to double over the next decade. The majority of Turkey's crude oil imports come from Iran, which supplies 35 percent of the country's demand.

In March, 477.9 thousand tons of crude oil -- in a total of 1.2 million tons -- was from Iran, followed by 290.2 thousand tons from Iraq and 176.5 thousand tons from Nigeria.

Turkey oil imports rise 4 percent in first quarter | Turkey | Worldbulletin News
 
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