Turkey

ExxonMobil and Qatar Energy on Friday started exploratory drilling for natural gas in a. possibility west of Cyprus, Cyprus President Nikos Christodoulides. stated on X. The east Mediterranean has actually yielded some major gas. discoveries in the last few years, and an interruption in energy products. from Russia after its 2022 intrusion of Ukraine has actually honed. Europe's attention on protecting alternative sources of supply. Cyprus progresses expedition activities, aiming to be an. alternative and trustworthy source of natural gas for the EU,. Christodoulides wrote in his post. He stated drilling at the prospect, called Electra, got. underway on Friday...

Turkey imposed a 6% tax walking on fuel on Tuesday, after its finance minister stated over the weekend that tax moves on fuel and tobacco would not impact the government's inflation goal. The unique intake tax per litre for fuel has actually been increased by around 6%, according to a presidential decree in the Official Gazette, which releases brand-new legislation and main announcements. The special consumption tax on fuel is changed every six months based on the manufacturer price index. With the 5-month cumulative PPI because the last boost standing at 7.12%, the most current tax walking is listed below...

Turkey can step in to deal with disagreements in between Sudan and the United Arab Emirates, President Tayyip Erdogan informed the head of Sudan's sovereign council Abdel Fattah alBurhan in a telephone call on Friday, the Turkish presidency stated. The Sudanese army has consistently implicated the UAE of providing weapons and support to the paramilitary Quick Support Forces (RSF) in Sudan's war. The Gulf state denies this. U.N. sanctions displays have referred to as reputable accusations that the UAE had given military aid to the RSF. Erdogan went over Turkish-Sudanese relations along with regional and worldwide matters with Burhan in...

The United States on Wednesday enforced curbs on numerous targets in fresh action against Russia, taking aim at sanctions circumvention in a. signal that the U.S. is dedicated to countering evasion. The action, taken by the U.S. Treasury and State. departments, enforced sanctions on nearly 400 entities and. people from over a lots various nations, according to. statements from the Treasury and State departments. The action was the most collective push so far versus. 3rd nation evasion, a State Department official told Reuters. It included sanctions on lots of Chinese, Hong Kong and Indian. companies, the most from those nations...

Egyptian President Abdel Fattah alSisi will hold talks with President Tayyip Erdogan in Turkey on Wednesday in the first presidential level visit in 12 years amid a warming of longfrozen relations in between the local powers. The visit comes after Erdogan took a trip to Cairo in February, his first trip to Egypt considering that 2012, taking a significant step towards rebuilding ties that were badly strained for a. years. Turkey-Egypt relations will be evaluated in all their. aspects and possible joint steps in the coming duration to further. develop cooperation will be discussed, the Turkish presidency's. communications workplace stated...

Turkey and Azerbaijan have actually agreed to extend their natural gas supply agreement, due to end at the end of this year, till 2030, and to provide Turkmen gas to Turkey, Turkish Energy Minister Alparslan Bayraktar said on Tuesday. The extended Azerbaijan-Turkey gas deal covers the delivery of 3.5 billion cubic metres (bcm) of natural gas per year to Turkey until 2030, a SOCAR official told in Baku. In addition to the accord in between Turkey's state gas grid operator BOTAS and the Azeri gas supply business, 4 contracts were signed between BOTAS and Azerbaijan's state oil company SOCAR for...

Turkey remains in talks with US energy huge ExxonMobil over a multibilliondollar offer to buy liquefied gas, in an effort to curb its reliance on Russian energy, the Financial Times reported on Sunday. The country is seeking to develop a new supply portfolio that will make it less dependent on any single partner, Turkey's. Energy Minister Alparslan Bayraktar informed the feet in an interview. Turkey would protect as much as 2.5 million tonnes of LNG a year. through a long-lasting deal under conversation with Exxon, Bayraktar. told FT. The pact could last for a years, he added. Bayraktar stated the...

4 expatriate workers were killed in a drone attack targeting the Khor Mor gas field in Iraq's Kurdistan region on Friday, a consultant to the Iraqi Kurdish prime minister told . Production has likewise been suspended, the advisor to the Iraqi Kurdish prime minister and a senior Kurdish politician stated. The 4 migrant workers killed in the attack were from Yemen, a declaration from the Kurdish regional government said. Iraqi President Abdul Latif Rashid, in a Saturday post on X, condemned the attack that led to numerous deaths and injuries, and has actually affected the regional electricity supply network. The...

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...

Kremlinowned energy kingpin Gazprom, as soon as Russia's most rewarding company, might face a long period of poor performance as it has a hard time to fill the gap of lost European gas sales with its domestic market and Chinese exports. The company recently revealed a yearly bottom line of $7. billion, its very first because 1999, following a steep decline in. trade with Europe. Gazprom's troubles reflect the deep impact the European. sanctions have actually had on Russia's gas market, along with the. constraints of Moscow's growing collaboration with China. The impact of international sanctions on oil exports has....

An international renewal in industrial policies that intend to enhance or secure domestic interests threatens worldwide cooperation and could hurt poorer countries in particular, the European Bank for Reconstruction and Development said in an annual report. The annual shifts report, which this year analyzed information impacting trade for 140 countries, found a impressive global renewal in strategic interventions created to shape nations' economies. Industrial policy is back with a vengeance, Beata Javorcik, EBRD Chief Economist said in an interview. It is back in rich countries in addition to in emerging markets. Such policies typically include state-backed grants or loans or...

French President Emmanuel Macron stated on Tuesday that China has a crucial role to play in avoiding nuclear escalation, after Russian President Vladimir Putin reduced the threshold for a nuclear strike. Macron consulted with China's President Xi Jinping on Tuesday in Rio de Janeiro as part of the G20 top, and said he asked him to put pressure on Putin to end the war with Ukraine. He likewise required Putin to show reason. Macron said North Korea's decision to send out soldiers to fight in Ukraine had actually raised the stakes for China, which it must push for a de-escalation...

Turkish President Tayyip Erdogan said on Tuesday that Turkey refused to permit Israeli President Isaac Herzog to utilize its airspace to participate in the COP environment top in Azerbaijan, highlighting Ankara's position in the middle of stress with Israel. We did not allow the Israeli president to use our airspace to attend the police officer summit. We recommended alternative routes and other alternatives, Erdogan informed press reporters at the G20 Summit in Brazil. Herzog wound up cancelling the go to. Because of the scenario evaluation and for security factors, the President of the State has actually decided to cancel his...

Australia and Turkey are in a. standoff over which country is better matched to host United. Countries climate modification talks in 2026, with neither willing to. give up on their bid. Both countries have actually remained in the running given that 2022, but. matters have come to a head at this year's COP29 top being. held this week in Baku, Azerbaijan. Australia's environment minister made a last-minute stop in. Turkey on Friday, his office confirmed, intending to reach a deal. on the Australian quote. Nevertheless, Turkish officials declined to. drop their quote and the two remain in talks. The host...

Multilateral development banks are putting far more focus on investments to take on environment change, the president of the European Bank for Restoration and Development stated today, amidst worries about U.S. environment policy under a Trump administration. MDBs are truly stepping up the number and the action in their level of financial investment in the green sector, Odile Renaud-Basso told Reuters late on Tuesday as voting in the U.S. was underway. President-elect Donald Trump has called environment change a. hoax and said he prepares to withdraw the U.S. from the landmark. 2015 Paris climate agreement. Renaud-Basso will sign up with...

A forest fire in Turkey's. western coastal province of Izmir, fanned by strong winds, is. near residential areas, forcing some people to be evacuated, the. local governor stated on Friday, as firemens also attempted to. consist of other wildfires in the north. The fire in Izmir started late on Thursday in the Karsiyaka. district for unknown factors, as firefighters already worked to. contain 3 separate fires in northwestern Turkey. Izmir Governor Suleyman Elban stated the fire in Karsiyaka. continued in between 4 and 5 different areas in spite of. efforts to contain it utilizing airplanes, helicopters, and other. cars, including...

Greece is pushing ahead with 21 efforts worth 780 million euros ($ 830.9 million) to safeguard marine biodiversity and deal with seaside contamination, Prime Minister Kyriakos Mitsotakis stated on Monday ahead of an global conference. Greece, which includes countless islands and which has the longest Mediterranean shoreline of any littoral state, stated last week it prepares to produce two marine parks, one in the Ionian Sea and one in the Aegean Sea, as part of the efforts. Silently however methodically, Greece is playing a leading role in the defence against dramatic environment changes, which are proven to impact every area...

Large quantities of climatewarming refrigerant gases from China and Turkey are being smuggled unlawfully into Europe, weakening an international pact to phase them out, a report by the Londonbased Environmental Examination Agency (EIA) stated on Monday. The gases are hydrofluorocarbons (HFCs), a range of chemicals utilized mainly for cooling in market and retail, which do not harm the ozone layer like other banned refrigerants, but as greenhouse gases can be several thousand times more powerful than co2. In spite of dedications to lower HFC usage, police agencies throughout the European Union are having a hard time to keep track of...

Greece is pushing ahead with 21 initiatives worth 780 million euros ($ 830.9 million) to secure marine biodiversity and take on seaside pollution, Prime Minister Kyriakos Mitsotakis said on Monday ahead of an worldwide conference. Greece, that includes countless islands and which has the longest Mediterranean shoreline of any littoral state, stated recently it plans to develop 2 marine parks, one in the Ionian Sea and one in the Aegean Sea, as part of the initiatives. Quietly however systematically, Greece is playing a leading function in the defence against dramatic climate changes, which are shown to affect every region and...

Turkish steel manufacturer Kardemir plans to invest $1.5 billion in the next 5 years and will increase its unrefined steel production to 3.5 million metric tons from 2.5 million as an outcome, its Chairman Ismail Demir said. The sector is facing pressure to make new investments to fulfill environment targets, with Europe starting to levy a border carbon tax on products such as steel from 2026, and financiers are carefully seeing the business's emissions reduction plans. We intend to reduce our carbon emissions by 15% by 2030 and end up being a carbon neutral facility by 2053, Demir told reporters...