TurkStream Gas Pipeline Launched
The Presidents of Russia and Turkey, Vladimir Putin and Recep Tayyip Erdogan, respectively, officially launched the TurkStream natural gas pipeline designed to ship Russian gas to Turkey and markets in southeastern Europe.TurkStream, which is laid in the Black Sea, is a link between the gas transmission systems of Russia and Turkey.
EU Threatens Turkey with Sanctions over Cyprus Drilling
The European Union is set to curb contacts and funding for Ankara in retaliation for what it calls Turkey's "illegal" drilling for gas and oil off Cyprus and stands ready to ramp up sanctions further, a draft statement seen by Reuters shows.In trying to take Ankara to task over…
Venezuela Sells Oil to Tiny Turkish Firm
With U.S. sanctions blocking Venezuela from selling oil to the United States, state-owned energy firm PDVSA has turned to several little-known buyers that include a tiny Turkish company with no refineries but ties to President Nicolas Maduro's government, according to internal documents and a PDVSA source.Until recently…
TurkStream Gas Conduit Offshore Section Complete
The pipe-laying vessel Pioneering Spirit pipelaying vessel completed the construction of the offshore section of the TurkStream gas pipeline in the Black Sea. The TurkStream pipeline will carry Russian gas across the Black Sea to Turkey.The command to weld the final joint of the gas pipeline’s second string was given by Vladimir Putin…
Offshore Part of TurkStream Complete
The construction of the offshore part of the TurkStream pipeline that will pump Russian gas to Turkey had been completed, a senior official at Russian gas giant Gazprom said on Monday.Gazprom's Oleg Aksyutin made the announcement on television after Russian President Vladimir Putin and Turkish President Tayyip Erdogan met in Istanbul to mark t
Start-up of Turkey's $6 bln STAR Oil Refinery Delayed
The commercial start-up of Turkey's new $6.3 billion oil refinery has been delayed until early next year and the plant is not expected to reach full capacity until mid-2019, three sources familiar with the matter said, as tests revealed minor faults.The 200,000-barrel-per-day STAR refinery…
Turkey Says Other Countries Cannot Drill In Its Waters
Turkey will not allow the exploitation of gas reserves in Turkish and north Cypriot waters of the eastern Mediterranean, President Tayyip Erdogan said on Sunday.The eastern Mediterranean is believed to be rich in natural gas, and attempts to tap resources there have revived tensions between Turkey and Greece…
STAR Oil Refinery to Reduce Turkey Dependence on Imports, says Erdogan
A new $6.3 billion refinery set up by the Azeri state oil company in Turkey will reduce Ankara's dependence on imports for processed oil products, President Tayyip Erdogan said on Friday.The new plant could also help to ease some of the pain from Turkey's currency crisis, given…
Turkey's Gama in Talks About Selling Energy Stake
Turkish conglomerate Gama Holding is in talks with Malaysia's Tenaga Nasional and other potential buyers about a sale of its 50.5 percent stake in its Gama Enerji energy unit, three sources said, as part of a $1 billion debt restructuring.Gama, which has businesses spanning oil…
Commodities Ride Rollercoaster on $100 Oil Talk
Oil highest in over 3 yrs on report Saudis want higher prices; nickel sees biggest jump in 6-1/2 years on sanctions worries. Talk that Saudi Arabia has its sights on $80-$100 a barrel oil again and of more U.S. sanctions on Russia ignited a rally in commodities and resource stocks on Thursday…
Turkey to Increase Gas Imports
Iran will pump more natural gas to Turkey as part Tehran's plans to expand its economic ties with its neighbour, Iranian President Hassan Rouhani told a joint news conference with his Turkish counterpart in Tehran, state TV reported on Wednesday. "During our meeting today, we…
Bullish Streak Propels Brent to Robust Q3
Brent up around 20 percent in third quarter, but Middle East producers worry high price will boost U.S. shale. Oil edged higher on Friday as tensions around Iraqi Kurdistan threatened the region's crude supplies, helping Brent prices to their strongest third-quarter performance since 2004.
Oil Climbs on Iraqi Kurdistan Tensions
Turkey says will deal only with Iraq on crude exports as oil flows from Iraqi Kurdistan to Turkey despite threats. Oil prices rose on Thursday, spurred by rising tension around northern Iraq following the Kurdistan region's vote in favour of independence in a referendum. Brent crude was up 40 cents at $58.30 a barrel by 1200 GMT.
Oil Near 26-month High on Turkey-Kurdistan Tensions
Brent hits highest since July 2015; oil market rebalancing continues, inventories falling. Brent oil prices hovered near 26-month highs on Tuesday, supported by Turkey's threat to cut crude exports from Iraq's Kurdistan region and signs of quicker market rebalancing. Turkish President…
Gulf States Squeeze Qatar as Solution Proves Elusive
Qatar, major gas exporter, calls for dialogue, diplomacy; evidence of economic pressure mounts, alarming markets. Gulf states cranked up the pressure on Qatar on Thursday as U.S. President Donald Trump and Kuwait's emir worked to end an Arab row that Qataris say has led to a blockade of their country…
Saudi Aramco in Lead to Buy OMV's Turkish Unit Petrol Ofisi
Oil giant Saudi Aramco is believed to be the front-runner to buy Turkish fuel stations business Petrol Ofisi from Austrian oil group OMV , sources familiar with the matter said. Saudi Aramco has placed a bid and is awaiting the result, said one source who declined to be identified because the matter is not public.
Second TurkStream Stage Depends on European Market Conditions
Work on the TurkStream natural gas pipeline project is continuing and and development of the second stage of the project will depend on natural gas market conditions in Europe, President Tayyip Erdogan said on Monday. In a speech to the World Energy Congress, Erdogan said Turkey…
TurkStream Project Will Have Two Gas Pipelines
The TurkStream gas project from Russia to Turkey will consist of two gas pipelines, both for use by Turkey and for delivery to Europe, Turkish President Tayyip Erdogan said on Tuesday. He told a joint news conference with Russian President Vladimir Putin that building the pipelines quickly was a priority.
Turkey Sets Import Tax on Thermal Coal
Turkey imposed a tax this week on imports of thermal coal from Colombia, Russia and other major exporters, for use in power generation, to support domestic coal production. The Turkish cabinet decided to impose the tax of $15/tonne on imports from the United States, Colombia,…
Russia, Turkey Reach Decision on TurkStream, Nuclear Power Plant
A political decision has been taken to continue work on the TurkStream natural gas pipeline project and the Akkuyu nuclear power plant in Turkey, Russian news agencies cited Turkish Economy Minister Nihat Zeybekci as saying on Tuesday. A meeting between Russian President Vladimir Putin and his Turkish counterpart Tayyip Erdogan…
