ISTANBUL, May 22 (Reuters) – Turkey’s bid to create a
regional power market is moving forward with preparations to add
electricity futures and derivatives trading yet the appeal of
tapping the country’s rapid growth is tempered by caution about
how the market will work.
“Turkey has the potential to develop into a regional energy
trading hub which could even provide a bridge with Europe,” said
Tobias Paulun, member of the exchange management board at
Germany’s European Energy Exchange (EEX).
ANKARA, May 13 (Reuters) – The Turkish government has
prepared a draft law that would ban advertising alcoholic drinks
in what officials say is an effort to protect children but could
further divide religious and secularist Turks.
The bill, which was sent to parliament on Friday, would also
ban companies that produce alcohol from sponsoring events,
restrict where alcoholic drinks are sold and consumed, and
require Turkish producers to place health warnings on packaging.
ANKARA, May 8 (Reuters) – Turkey wants to build a home-grown
nuclear industry over the next decade as it seeks to cut
reliance on costly imported oil and gas, even though the nuclear
newcomer outsourced its first two atomic power plants to foreign
The fast-growing nation of 76 million people, which faces a
ballooning energy deficit, last week awarded a $22 billion deal
to a Japanese-French consortium to build its second nuclear
power plant at Sinop on the Black Sea coast.
ANKARA, April 17 (Reuters) – Iraqi Kurdistan will be ready
to export its crude oil directly to world markets via Turkey
within months after a new pipeline is completed, a move likely
to deepen a row with Baghdad over the distribution of Iraq’s
The Kurdistan Regional Government (KRG) is on track to
finish the pipeline in the third quarter, linking Genel Energy’s
Taq Taq oilfield with an existing Iraq-Turkey crude
pipeline, four Turkey-based industry sources told Reuters.
ANKARA, April 12 (Reuters) – An Iranian businessman named by
the United States and the European Union for breaching sanctions
against Iran said on Friday his blacklisting was giving him good
The U.S. Treasury Department slapped financial penalties on
Babak Zanjani and a network of companies on Thursday which it
accuses of attempting to evade international sanctions on Iran’s
nuclear programme by moving billions of dollars on behalf of the
ANKARA (Reuters) – Turkish Energy Minister Taner Yildiz said on Wednesday it was too early to talk of energy deals with Israel despite signs of reconciliation between the two countries, but said Turkey was open to energy cooperation in the future.
U.S. President Barack Obama last month brokered a thaw between Turkey and Israel, whose relations were frozen after the 2010 killing by Israeli marines of nine Turks aboard a Gaza-bound aid ship.
DUBAI (Reuters) – At its peak around five years ago, the Al Sari family owned the largest independent oil trader in the Gulf region, with branches in London and Singapore, and a fleet of dozens of ships.
These days, their FAL Oil Co trades more in controversy than oil.
It owes a consortium of lenders nearly $900 million, including about $200 million to Standard Chartered PLC. It is contesting a worldwide asset freeze granted by a London court to the Royal Bank of Scotland. And it is suing its home government of Sharjah – one of seven emirates that make up the United Arab Emirates – in a rare public fight over a disputed $750 million fuel-oil bill. The company even hired a British debt collector to chase the emirate for payment.
DUBAI/GENEVA, Feb 21 (Reuters) – East Africa’s emerging oil
products market has sparked intense competition between traders
hunting for better profits to bolster tight margins in Europe
and the Middle East.
Oil traders with Gulf operations based in Dubai are looking
to sell into an East African market now worth $15 billion a year
to supply oil products to power emerging economies growing on
the back of a rising population and robust mining activity.
GENEVA/DUBAI (Reuters) – Iran’s crude oil exports in December leapt to their highest level since European Union sanctions took effect last July, analysts and shipping sources said, as strong Chinese demand and tanker fleet expansion helped the OPEC member dodge sanctions.
Exports rose to around 1.4 million barrels per day (bpd) in December, according to two industry sources and shipping and customs data compiled by Reuters on a country-by-country basis and corroborated by other sources and consultants.
GENEVA/DUBAI, Jan 30 (Reuters) – Iran’s crude oil exports in
December leapt to their highest level since European Union
sanctions took effect last July, analysts and shipping sources
said, as strong Chinese demand and tanker fleet expansion helped
the OPEC member dodge sanctions.
Exports rose to around 1.4 million barrels per day (bpd) in
December, according to two industry sources and shipping and
customs data compiled by Reuters on a country-by-country basis
and corroborated by other sources and consultants.