UPDATE 1-No Turkish gasoline exports to Iran in Aug -data

Published 09/13/2010, 12:12 PM
Updated 09/13/2010, 12:16 PM
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* Exporters' data shows no gasoline sales to Iran in Aug

* Traders do not see Turkey resuming exports soon

(Updates with trader comment, adds detail)

By Humeyra Pamuk

LONDON, Sept 13 (Reuters) - Turkey did not export any gasoline to Iran in August, compared with 35,444 tonnes the previous month, data from the Istanbul Exporters' Association of Chemical Materials showed on Monday.

The data, obtained by Reuters, was the latest evidence a series of international sanctions in response to Iran's nuclear programme, have stifled oil and gas trade with OPEC-member Iran.

Turkey sold 138,673 tonnes of gasoline to Iran in June at a premium of around 25 percent, falling to 35,444 tonnes in July, according to Reuters calculations.

"I don't see Turkey selling any more volumes because of the sanctions and their interest in aligning with the global regulations," one gasoline trader said.

Iran is the world's fifth-largest crude oil exporter but lack of refining capacity means it relies on imports for up to 40 percent of its gasoline needs, although it has been working to reduce its import dependency.

"They (Iran) have been using some of their petrochemical units for the domestic market to cope with domestic demand. And I think they have managed to decrease domestic demand by increasing the retail prices at the pump," the trader said.

Last week Oil Minister Massoud Mirkazemi was reported as saying Iran had already become self-sufficient in gasoline, something traders outside Iran said they thought was unlikely.

On Monday, Iran's OPEC governor said the global gasoline market was oversupplied and buyers, not sellers, were setting the conditions.

U.S. and EU sanctions agreed earlier this year specifically targeted Iran's oil and gas trade as the international community sought to deter Iran from enriching uranium. Iran has said its nuclear programme is purely for peaceful purposes.

Analysts have said Russia, China, Venezuela and also Turkey, which has a gas import relationship with Iran, would be the most likely to continue to help Iran meet its gasoline needs.

But in August, Turkey's Tupras said it was not selling any petroleum products to Iran. The company, Europe's fourth-biggest oil refiner, is 51 percent owned by Turkey's biggest conglomerate Koc Holding.

"I haven't heard of any cargoes going from Turkey to Iran lately," a second distillates trader said.

Government data for Turkey's August exports and imports will be published on Sept. 30. Exporters' data, which is largely in line with the official data, comes out earlier in the month. (Reporting by Humeyra Pamuk; editing by James Jukwey and Sue Thomas)

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