BP Says Azeri BTC Crude Back on Spec at Turkey’s Ceyhan Terminal

BP said crude oil arriving at the BTC Ceyhan export terminal on Turkey’s Mediterranean coast has returned to normal specification after traces of organic chlorides were discovered last week. The company is working with Azerbaijan’s state energy producer SOCAR to isolate and manage the off-specification volumes. The contamination prompted additional testing, delayed several cargoes and pushed price differentials for Azeri BTC crude to a four-year low. Data from analytics firm Kpler show 425,000 barrels a day were loaded at Ceyhan during 1–30 July, compared with 561,000 barrels a day set out in the July loading programme. Loadings are continuing from tanks containing on-specification crude while analysis of affected barrels proceeds. BP has not disclosed when the contamination began or how many cargoes were impacted.