Nigeria’s oil revenue is set for a boost as Turkey’s biggest oil refining company, Tupras, has placed new orders for Nigerian crude oil expected to arrive between March and April 2025. This development comes at a time when Nigeria is seriously working to increase its oil exports to fund the 2025 national budget.
According to international oil shipment tracking firm, Kpler, Tupras has added Nigerian crude oil to its order list, although the exact quantity of oil purchased was not made public. The move is seen as a positive step for Nigeria, which earns about 90% of its foreign exchange from oil and plans to fund over half of its 2025 budget through oil sales.
Tupras is one of the major players in the global oil refining market. The company runs two large refineries in Turkey — one in Izmit and another in Izmir — with a combined daily processing capacity of 467,300 barrels of crude oil. These details are backed by data from the London Stock Exchange Group.
The Nigerian government will see this new purchase as a good sign, especially as oil export figures have been shaky in recent months. Nigeria’s crude output has continued to drop, and global oil prices are unstable. Oil theft and pipeline vandalism have also affected production and exports back home.
The global oil market is changing, and Nigeria is feeling the pressure. Recently, Indonesia, one of Nigeria’s key crude oil buyers, announced it would reduce its crude purchases from other countries. Instead, Indonesia plans to increase its oil and LPG imports from the United States by around $10 billion. This was revealed by Indonesia’s Minister of Investment and Energy, Bahlil Lahadalia, during a media briefing.
So, the fact that Tupras is now turning to Nigeria for crude is coming at the right time. Apart from Nigeria, Tupras has also placed orders for crude oil from Guyana, Libya, and Norway. This shows the Turkish company is spreading its oil sources, especially after reducing its import of Russian crude oil earlier this year.
Tupras was once one of the largest importers of Russian oil, especially after the war in Ukraine started in 2022. By the end of 2024, Russian oil accounted for 65% of Turkey’s crude imports. But due to tighter U.S. and European sanctions on Russia, Tupras was forced to pause its Russian crude purchases in February 2025.
However, reports from Reuters say the company has resumed buying from Russia after the price of Urals crude oil fell below $60 per barrel. That price level meets the condition for using Western shipping and insurance services, which the U.S., EU, and other G7 countries have restricted for Russian oil sold above the cap.
One of the Russian crude shipments, a vessel named Nissos Christiana, carried about 730,000 barrels of oil from Ust-Luga port in the Baltic Sea on April 3. It is expected to reach Tupras’ Izmit refinery on April 21. Another shipment is also being planned, though details have not been confirmed yet.
Tupras is also looking for new sources of oil beyond Russia. In March, the company bought Brazilian crude oil for the first time, showing its willingness to diversify supply and reduce dependence on any single country.
Meanwhile, global oil demand is expected to grow by about 730,000 barrels per day this year, according to market forecasts. But the oil market still faces a lot of uncertainty due to geopolitical tensions, changing policies, and sanctions.
For Nigeria, these new crude oil deals offer a glimmer of hope. As the government struggles with falling production and growing competition, every new buyer helps to ease pressure on the economy and adds to foreign exchange earnings.
