Latest news with #Tupras
Asharq Al-Awsat
30-06-2025
- Business
- Asharq Al-Awsat
Türkiye to Set Sustainable Aviation Fuel Mandates for Airlines, Suppliers
Türkiye will set mandates for airlines and jet fuel suppliers to boost uptake of sustainable aviation fuel, with a goal of reducing aviation emissions by 5% by 2030, its civil aviation authority said on its website. The move is aimed at complying with the UN International Civil Aviation Organization's emission reduction scheme that will become mandatory in 2027. The new rules will oblige airlines to use sufficient SAF in international flights involving Türkiye to meet the 5% emissions reduction goal. They will also require jet fuel suppliers in the country to procure SAF to meet that target, and domestic oil refiners Tupras and Socar to start producing SAFs, Reuters reported. The authority will publish minimum emission reduction targets before the end of the third quarter each year, it said, adding it would penalize airlines and jet fuel suppliers for any non-compliance. Airline operators must load 90% of the SAF they need for international flights in Türkiye, the authority said. Aviation is responsible for 2.5% of global energy-related CO2 emissions, according to the International Energy Agency. Tupras, Türkiye's largest oil refiner, aims to produce 20,000 metric tons of SAF at one of its major plants in 2026, the company said earlier this year. It aims to lift production up to 400,000 tons by building a new unit at its Izmir refinery, pending a final investment decision. DB Tarimsal Enerji, a local biofuel firm, also aims to produce 100,000 tons of SAF at a new plant. Türkiye's jet fuel demand fell 4% last year to 6.26 million tons, or 135,000 barrels per day, according to the country's energy regulator.
Reuters
30-06-2025
- Business
- Reuters
Turkey to set sustainable aviation fuel mandates for airlines, suppliers
June 30 (Reuters) - Turkey will set mandates for airlines and jet fuel suppliers to boost uptake of sustainable aviation fuel, with a goal of reducing aviation emissions by 5% by 2030, its civil aviation authority said on its website. The move is aimed at complying with the U.N. International Civil Aviation Organization's emission reduction scheme that will become mandatory in 2027. The new rules will oblige airlines to use sufficient SAF in international flights involving Turkey to meet the 5% emissions reduction goal. They will also require jet fuel suppliers in the country to procure SAF to meet that target, and domestic oil refiners Tupras ( opens new tab and Socar to start producing SAFs. The authority will publish minimum emission reduction targets before the end of the third quarter each year, it said, adding it would penalise airlines and jet fuel suppliers for any non-compliance. Airline operators must load 90% of the SAF they need for international flights in Turkey, the authority said. Aviation is responsible for 2.5% of global energy-related CO2 emissions, according to the International Energy Agency. Tupras, Turkey's largest oil refiner, aims to produce 20,000 metric tons of SAF at one of its major plants in 2026, the company said earlier this year. It aims to lift production up to 400,000 tons by building a new unit at its Izmir refinery, pending a final investment decision. DB Tarimsal Enerji, a local biofuel firm, also aims to produce 100,000 tons of SAF at a new plant. Turkey's jet fuel demand fell 4% last year to 6.26 million tons, or 135,000 barrels per day, according to the country's energy regulator.
Reuters
06-06-2025
- Business
- Reuters
Russian Urals oil to India sells at narrowest discounts since 2022, traders say
MOSCOW/NEW DELHI, June 6 (Reuters) - Discounts for Russian flagship Urals crude oil for delivery to Indian ports in July hit their narrowest levels since 2022 as spot supplies have tightened, four traders involved in the market said on Friday. Narrowing discounts and tight spot supplies are nudging Indian refiners to scout for alternatives through buying tenders. Spot discounts for Urals crude narrowed to $2.25 per barrel on average for cargoes arriving in India in July, from $2.70 to $3.10 per barrel to dated Brent on delivery ex-ship (DES) basis in the previous month, the sources said. That is the narrowest discount for Urals oil cargoes sold to India since the Ukraine war broke out in 2022. India became the largest buyer of Russian seaborne crude after Moscow diverted its energy supply away from the European Union which imposed a ban. Some Indian refiners which do not have long-term supply agreements with Russian oil companies are not getting enough Urals oil in July, the sources said. India's largest private refiner, Reliance Industries ( opens new tab, locked in a term supply contract with Russian oil giant Rosneft ( opens new tab last year, which reduced the availability of Urals in the spot market, they said. Russian oil traders cited higher demand for the grade from refiners in Turkey, which has recently increased buying, boosting competition with Indian refiners over the supply. Turkey's largest oil refiner, Tupras, resumed buying Urals in April after stopping earlier this year, because of tougher U.S. sanctions on Moscow. Two of the traders also said improving refining margins globally also helped boost Russian oil demand as refiners are eager to increase crude runs. India remains the biggest buyer of Russian Urals oil by sea, with imports hitting a 10-month high in May.
Yahoo
16-04-2025
- Business
- Yahoo
Exclusive-Top Turkish refiner Tupras resumes buying Russian Urals crude, sources say
By Ahmad Ghaddar and Robert Harvey LONDON (Reuters) - Turkey's largest oil refiner Tupras has returned to buying Russian Urals crude cargoes, after it stopped doing so earlier this year due to US sanctions on Moscow, according to three trading sources and shipping data. Tupras did not immediately reply to a Reuters request for comment. The three sources said Tupras resumed its purchases after prices for Urals crude fell below a Western price cap, to the lowest levels since 2023, earlier this month. Tupras became one of the biggest importers of Russian crude after Moscow's invasion of Ukraine in 2022, with Russian oil representing 65% of the country's total oil imports in January-November 2024, according to data from Turkey's energy regulator. Sign in to access your portfolio
Reuters
16-04-2025
- Business
- Reuters
Exclusive: Top Turkish refiner Tupras resumes buying Russian Urals crude, sources say
LONDON, April 16 (Reuters) - Turkey's largest oil refiner Tupras has returned to buying Russian Urals crude cargoes, after it stopped doing so earlier this year due to US sanctions on Moscow, according to three trading sources and shipping data. Tupras did not immediately reply to a Reuters request for comment. The three sources said Tupras resumed its purchases after prices for Urals crude fell below a Western price cap, to the lowest levels since 2023, earlier this month. Tupras became one of the biggest importers of Russian crude after Moscow's invasion of Ukraine in 2022, with Russian oil representing 65% of the country's total oil imports in January-November 2024, according to data from Turkey's energy regulator.
