Turkey Could Increase Oil Imports from Iran

Turkey could increase its oil imports from neighboring Iran once the sanctions are lifted as part of a landmark deal on Tehran's nuclear program, the energy minister said on Monday.

The amount of crude oil Turkey buys from Iran, one of its leading suppliers along with Russia, could increase to 140,000 barrels per day (bpd) from 105,000, Taner Yildiz said.

"Before the sanctions, half of our oil imports came from Iran. Different things can happen in different countries. But our priority is to meet the needs of Turkey," Yildiz told CNBC-e television.

His comments came as Turkish Foreign Minister Ahmet Davutoglu headed to Tehran in a bid to boost ties with the Shiite power.

Davutoglu hailed the deal hammered out in Geneva between Iran and six world powers at the weekend.

"This is a historic day and the first step that will ease tension, and Turkey supports the new development," Davutoglu said in Bahrain en route to Iran.

Under the deal, Iran agreed to curb its nuclear activities for six months in exchange for some sanctions relief worth about $7 billion.

"If the sanctions are channeled into the right direction, it will benefit both the region and the world," Yildiz told reporters.

Turkey earlier this month rejected making further reductions in its oil imports from Iran, which has been hit by U.N., EU and U.S. sanctions.

It had been granted a six-month waiver on Iranian oil imports by the United States, and Washington is expected to review an extension next month.

Turkey, which has little of its own energy resources, remains one of the largest customers for Iranian oil and a major buyer of its natural gas.