Wednesday, October 15, 2025

Turkey News

Iraqi Oil Flows to Turkey After Brief Halt

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Crude oil exports from Iraq's Kurdistan region to Turkey's Ceyhan port resumed on Friday, after a temporary halt due to "technical issues", the region's ministry of natural resources said in a statement.The exports had earlier been suspended because storage tanks reached capacity, two energy sources with direct knowledge of the matter told Reuters.One of the sources said flows stopped at around 1 a.m. local time (2200 GMT) on Friday after the storage tanks became overloaded, leaving no space for further shipments.The same source said flows were expected to resume between 4 p.m. and 5 p.m.

Senegal plans to begin construction on a new refinery in next year

The CEO of the national refining firm SAR announced on Thursday that Senegal will begin construction of a new oil refinery in the coming year, to increase domestic processing capacity. He is looking for investments between $2 billion and $5 billion. Mamadou Abib Diop, speaking at the African Energy Conference in Cape Town, said that China, Turkey, and South Korea have all made financing offers to the country. Abib Diop stated that the feedstock for this new plant will primarily come from Senegal’s offshore Sangomar gas and oil field. The field is operated by Woodside Energy, with Petrosen as a minority investor.

Palm oil falls due to weak crude oil and rival oils but still shows a quarterly gain

The price of Malaysian palm oils futures dropped for a third consecutive session on Tuesday. This was due to the weakness of rival edible oils as well as OPEC+'s plans to increase production. However, this contract still recorded a gain in terms of its quarterly performance. At the close, the benchmark palm oil contract on Bursa Malaysia's Derivatives exchange for December delivery fell 34 ringgit (0.78%) to 4,351 Ringgit ($1,034.47) per metric ton. This quarter's contract has gained 9.16%, reversing the losses of the two previous quarters. Palm oil was under pressure from the weakness of rival oilseeds.

Oil prices and US interest rate cuts have mixed the Gulf markets.

September 30 - The Gulf stock markets were mixed early on Tuesday, as lower oil prices dampened expectations for further Federal Reserve rate reductions. According to CME Group’s FedWatch tool, traders have priced in an 89% chance that the Fed will reduce rates by 25 basis points at its next meeting in October. Investors are now awaiting U.S. data about job openings, payrolls in the private sector, the ISM Manufacturing PMI and the Non-Farm Payrolls Report on Friday to get more clues about the economy's state. The U.S.

Palm oil slips due to weaker rival oils and crude oil prices

The market for Malaysian palm oils futures continued to lose money for a third consecutive session on Tuesday as OPEC+'s plans to increase production and the weakness of rival edible oil weighed on it. However, the contract is still on course for a quarter gain. At midday, the benchmark palm oil contract on Bursa Malaysia's Derivatives exchange for December delivery fell 38 ringgit or 0.87% to 4,347 Ringgit ($1,031.81) per metric ton. This contract has gained 9.06% so far this quarter. Palm oil was under pressure from the weakness of rival oilseeds.

Palm oil falls due to weak soyoil but the expectation of lower stock limits losses

Malaysian palm futures closed lower for the second session in a row on Monday, due to a weaker soyoil. However, the expectation of falling inventories over the next few weeks helped limit the losses. At the close, the benchmark palm oil contract on Bursa Derivatives Exchange for December delivery fell 12 ringgit or 0.27% to 4,384 Ringgit ($1,040.84) per metric ton. The contract dropped by 0.97% during the previous session. David Ng is a proprietary trader with Kuala Lumpur's Iceberg X Sdn. Bhd. He said that the lower soybean oil price led to a decline in crude palm oil futures.

VEGOILS-Palm rises on strong export demand

Malaysian palm futures rose on Monday due to the strong export demand in recent weeks, which has increased traders' confidence. At the midday break, the benchmark palm oil contract on Bursa Derivatives Exchange for December delivery gained 19 ringgit or 0.43% to 4,415 Ringgit ($1,048.69). The contract dropped by 0.97% during the previous session. Crude palm futures rose as strong export performances seen in recent weeks supported market sentiment. David Ng is a proprietary trader with Kuala Lumpur based trading firm Iceberg X Sdn Bhd.

French spot electricity prices rise on windpower decline

On Thursday, the French spot electricity contract was higher for Friday due to lower wind power production in the region. By 0836 GMT, the French baseload day-ahead contract was up by 34.4% to 77 euros per megawatt hour (MWh). The German equivalent contract, which closed at 77.25 euro/MWh last Wednesday, was not traded. Analysts at Engie’s Energy Scan said that after a period in which spot prices were very low due to factors such as strong wind output and higher hydro, they are now strengthening and expect them to continue to rise, especially with the increase of exports.

Oilfield executives sour in Dallas Fed survey

According to a Federal Reserve Bank of Dallas survey published on Wednesday, oil and gas production in Texas, Louisiana, and New Mexico, the three states that produce the most, declined in the third-quarter as executives expressed a more negative outlook. The decline in oil and gas activity is due to the uncertainty surrounding oil prices, as well as increased frustration towards President Donald Trump and his administration. The executives blamed Trump policies such as tariffs, and his promise to lower oil price, for the decline in activity.

Iraq, Kurdish Government to Restart Oil Exports to Turkey

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Iraq's federal and Kurdish regional governments reached a deal with oil firms to resume crude exports via Turkey on Monday, two oil officials told Reuters.The breakthrough will allow for the resumption of exports of about 230,000 barrels per day (bpd) from Iraqi Kurdistan which have been suspended since March 2023."We will on Tuesday start technical procedures to prepare pipeline operations, with oil flows expected to restart within 48 hours, an oil official with knowledge of the agreement told…

Report: Nuclear projects slow down after record-breaking output in 2024

The World Nuclear Industry Status Report released on Monday said that the record-breaking level of nuclear power production in 2024 would be difficult to maintain due to the lack of investment required, aging plants, and disruptions to projects. Various countries are re-engaging in nuclear power as they try to phase out fossil energy. The United States has recently pushed hard to make the policy of nuclear energy and secured several agreements with countries to increase production. Data from the report revealed that global nuclear power production reached a new record of 2…

Kazakhstan Resumes Baku-Tbilisi-Ceyhan Pipeline Exports After Contamination Issues

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Kazakhstan resumed oil supplies via the Baku-Tbilisi-Ceyhan pipeline on September 13, state energy company Kazmunaygaz said on Wednesday.Supplies via the route were suspended last month amid contamination issues.The BTC pipeline, which runs through Georgia to Turkey, is used mainly to export oil from the Azeri, Chirag and Guneshli oilfields, which are operated by BP.The pipeline is also used by Kazakhstan as a way to lessen its dependence on Russia as a main exporting route. More than 80% of…

SOCAR is close to acquiring oil refiner Italiana Petroli according to sources

Three sources claim that the founding family of Italiana Petroli is close to selling the oil refinery to State Oil Company of Azerbaijan. This would give the group control of Italy's biggest petrol station network. Two people have said that a deal could be signed with SOCAR as soon as Monday, barring any last minute postponement. Sources did not reveal the financial terms of this agreement. According to sources close to the situation, Brachetti-Peretti's family in Italy is seeking a value of 2,5 billion euros ($2,9 billion) for its company. The cash held by their company amounts upto 500 million euros.

Trump urges NATO nations not to buy Russian oil

Nations stop purchasing Russian oil and take similar measures. Trump wrote on social media that he was ready to impose major sanctions against Russia once all NATO countries agreed to the same and stopped buying Russian oil. The United States has increased pressure on NATO nations to tighten energy restrictions on Russia to help end the war in Ukraine. Trump has faced criticism in the United States for setting deadlines of two weeks for Russia to deescalate, and then letting them pass without any concrete action.

Interior secretary: US wants to strengthen energy ties with Greece

Interior Secretary Doug Burgum told reporters in Athens that the U.S. is looking to strengthen its energy relations with Greece. This comes as the Trump Administration works to reduce Russia's gas and oil supplies to Europe. Burgum was in Europe this past week to sign energy deals that the U.S. believes will increase its influence in Europe while reducing Russia's. Greece announced on Wednesday that a consortium, including the oil giant Chevron, had bid for exploration of natural gas in their waters.

US Looks to Expand Energy Ties with Greece

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The United States wants to expand its energy ties with Greece, U.S. Interior Secretary Doug Burgum said during a visit to Athens on Thursday, as the Trump administration works to further reduce Russia's oil and gas supplies to Europe.Burgum has been in Europe this week aiming to seal energy supply deals, which the U.S. hopes will strengthen its influence in the region while weakening Russia's.On Wednesday, Greece announced that a consortium including oil major Chevron had bid to explore for natural…

Interior secretary: US wants to strengthen energy ties with Greece

U.S. officials say that the United States is looking to strengthen its energy relations with Greece. While visiting Athens, Interior Secretary Doug Burgum stated that the Trump administration is working to further reduce Russia’s oil and natural gas supplies into Europe. Burgum was in Europe to sign energy deals that the U.S. hopes can strengthen their influence in the area while weakening Russia’s. Greece announced on Wednesday that a consortium, including the oil giant Chevron, had bid for exploration of natural gas in their waters.

Draft shows that EU countries are trying to limit the ways in which Russian gas can be circumvented by EU countries.

A draft of the latest negotiation proposal for the rules seen by revealed that the European Union is trying to block any way Russian gas can still enter Europe after the phase-out. The European Commission proposed legislation in June to phase out EU oil and gas imports from Russia by January 1, 2028. This is because Brussels wants to end its decades-old relationship with Russia after its invasion of Ukraine in 2022. The EU is negotiating these plans and considering proposals that would make it more difficult for companies to "transit" Russian gas through Russia, after having been produced in another country.

Russian Seaborne Diesel Exports Fall in August

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Russia's seaborne diesel and gasoil exports fell 6% on the month in August to about 3.1 million metric tons as damage from Ukrainian drone strikes hit production, data from market sources and LSEG showed.Last month Ukraine intensified drone attacks on Russian oil facilities, targeting major refineries and oil depots mainly in southern and central Russia daily ahead of a meeting between U.S.

Russian energy exports disrupted since the start of Ukraine War

One of the bargaining chips that Donald Trump will use to convince Vladimir Putin to progress towards a ceasefire agreement in Ukraine when he meets him on Friday is to reduce U.S. restrictions on Russia's exports and energy industry. Trump has also warned of tougher sanctions in the event that there is not progress. See how the sanctions have affected Russian energy exports. Before the war, Russia was Europe's largest natural gas supplier. The majority of gas was transported via four pipeline routes…