Exports of Azeri oil from Turkey are unlikely to resume until late next week as authorities check for earthquake damage at Ceyhan, according to a person who received a preliminary estimate from an equity holder in a pipeline running to the port.
(Bloomberg) — Exports of Azeri oil from Turkey are unlikely to resume until late next week as authorities check for earthquake damage at Ceyhan, according to a person who received a preliminary estimate from an equity holder in a pipeline running to the port.
The eastern Mediterranean terminal stopped loadings on Monday, when two nearby earthquakes killed more than 15,000 people and destroyed masses of buildings. The pipelines serving the port resumed on Tuesday.
Ceyhan normally handles more than 1 million barrels a day of crude, almost 60% of it from Azerbaijan and the rest from Iraq.
BP Plc, which has a 30.1% stake in Baku-Tbilisi-Ceyhan pipeline from Azerbaijan to Ceyhan, earlier said an assessment at the port was still happening. A company spokesperson wouldn’t comment on when Azeri shipments would restart.
Ceyhan was meant to export around 580,000 barrels a day this month from BTC, according to a loading program. Other partners include Azerbaijan’s state energy company Socar, Mol Nyrt, Eni SpA and TotalEnergies SE.
One of three bays handling oil from Iraq, which comes via a separate pipeline, reopened on Tuesday evening and a ship was loading crude from the region of Kurdistan. Iraq sends roughly 450,000 barrels a day to Ceyhan.
Iraq’s full-month exports from the port won’t be affected, according to an official with knowledge of the matter.
Ceyhan has almost 20 storage tanks with a combined capacity of roughly 17 million barrels.
–With assistance from Julian Lee and Alex Longley.
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