Turkey

Energy Markets

Turkey indications energy cooperation deal with Somalia

Turkey signed an overseas oil and gas cooperation deal with Somalia on Thursday, the Turkish Energy Ministry said, even more reinforcing bilateral ties after agreeing a defence offer last month. The energy ministry stated the offer, which it described as an inter-governmental arrangement, includes expedition, evaluation, development and production of oil in Somalia's land and sea blocks. With this agreement, we will carry out joint activities to bring the resources of Somalia to the Somali people. We aim to enhance Turkey's presence in the Horn of Africa with brand-new partnerships in the field of energy, Energy Minister Alparslan Bayraktar said...

Energy Markets

Iraq, oil firms trade blame over shut Turkey pipeline

Foreign oil companies operating in Iraq's Kurdistan area are partially to blame for the hold-up in resuming unrefined exports after failing to send agreements for modification, Iraq's oil ministry stated. When managed about, the Iraq-Turkey oil pipeline (ITP) which 0.5% of worldwide oil supply has been halted, stuck in legal and monetary limbo, given that March 2023. The flows were halted after the Paris-based International Chamber of Commerce in a longstanding arbitration case ruled Ankara had actually breached arrangements of a 1973 treaty by helping with such exports without the consent of the Iraqi federal government. Iraq's oil ministry in...

Power Markets

Turkey's Turkcell prepares to invest to get ready for 5G rollout

Turkish telecom operator Turkcell plans to ramp up financial investment this year to prepare its new information centre and grid for 5G services, the business's chief executive Ali Taha Koc said. The company booked an amount equal to nearly a quarter of its profits this year for investments, Koc likewise said, including that the primary reasons for that are the data centre, solar energy plant and 5G network preparation. The most important of them all is to be all set for 5G. We require to install fibre optic cable televisions to base stations so that they can manage high capacity...

Energy Markets

Turkey's Erdogan hosts Greek PM, sees 'no unsolvable issues' in bilateral ties

Turkish President Tayyip Erdogan told Greek Prime Minister Kyriakos Mitsotakis during talks in Ankara on Monday that there were no unsolvable problems between their countries. Turkey and Greece, NATO allies and historical foes, have long been at odds over issues consisting of maritime borders, energy resources in the eastern Mediterranean, flights over the Aegean Sea, and ethnically split Cyprus. After years of stress that brought the 2 to the brink of conflict, they have begun taking prominent actions to improve ties, particularly since both leaders were re-elected in 2015. Regardless of arguments, we concentrate on a positive agenda by keeping...

Energy Markets

Greek and turkish leaders set for speak with maintain favorable momentum

Greek Prime Minister Kyriakos Mitsotakis will go to Turkey on Monday for talks with Turkish President Tayyip Erdogan focused on keeping the positive momentum attained in bilateral incorporate current months in spite of lingering issues in between the neighbours. Turkey and Greece, NATO allies and historic foes, have long been at odds over concerns consisting of maritime borders, energy resources in the eastern Mediterranean, flights over the Aegean Sea, and ethnically split Cyprus. After years of stress that brought the 2 to the edge of conflict, Ankara and Athens began taking high profile steps to enhance their ties in recent...

Nuclear Power

Sweden signs up with NATO as war in Ukraine triggers security reconsider

Sweden signed up with NATO in Washington on Thursday, two years after Russia's. invasion of Ukraine forced it to rethink its nationwide security. policy and conclude that assistance for the alliance was the. Scandinavian nation's finest guarantee of security. Swedish Prime Minister Ulf Kristersson turned over the final. documents to the U.S. government on Thursday, the last action. in a dragged out process to secure the backing of all members to. sign up with the military alliance. Advantages concern those who wait, U.S. Secretary of. State Antony Blinken said as he got Sweden's accession. documents from Kristersson. Blinken said everything...

Oil & Gas

A year after Iraq-Turkey pipeline halt, no progress to resume flows

A year after the closure of the IraqTurkey oil pipeline, the conduit that once managed about 0.5% of global oil supply is still stuck in limbo as legal and monetary obstacles impede the resumption of flows, 3 sources informed . As soon as streamed through, about 450,000 barrels per day of crude Iraq's northern oil export path through Turkey, and its closure has led to the loss of approximately $11 billion to $12 billion for Iraq, the Association of the Petroleum Market of Kurdistan (APIKUR). price quotes. A restart is not being discussed at the moment, among the. sources with...