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Turkish Tupras cuts refinery runs due to weak demand

April 24/2020

MOSCOW (MRC) -- Turkish refiner Tupras has cut runs at its Izmir refinery by 50% due to weak fuel demand because of the coronavirus outbreak, four trading sources familiar with the matter told Reuters.

Tupras has also cut runs at its Izmit refinery by 20% and its Kirikkale refinery by 50%, the sources said.

Tupras started to cut refinery runs around the middle of March, two of the sources said, but it was not clear when exactly the runs were reduced at each refinery.

Tupras is a big consumer of Mediterranean oil grades such as Russian Urals and Siberian Light as well as Kazakhstans CPC Blend, which it normally purchases via tenders.

"Theyve cut purchases a lot. There were no buy tenders for over a month now," a trader in the Mediterranean oil market said.

Tupras did not respond to a request for a comment.

We also remind that Petkim, part of SOCAR, operates its naphtha cracker at Aliaga in Turkey, which has an ethylene production capacity of 585,000 mt/year and propylene production capacity of 240,000 mt/year. The company shut this cracker for aproximately two weeks on 9 March, 2018, for an unplanned outage.

Ethylene and propylene are feedstocks for producing polyethylene (PE) and polypropylene (PP).

According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 383,760 tonnes in the first two month of 2020, up by 14% year on year. High density polyethylene (HDPE) and linear low density polyethylene (LLDPE) shipments increased due to the increased capacity utilisation at ZapSibNeftekhim. At the same time, PP shipments to the Russian market were 192,760 tonnes in January-February 2020, down by 6% year on year. Homopolymer PP accounted for the main decrease in imports.
Author:Margaret Volkova
Tags:PP, PE, LLDPE, crude and gaz condensate, homopolymer PP, propylene, HDPE, ethylene, petrochemistry, Petkim, SOCAR Polymer, Russia, Turkey.
Category:General News
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