DIRS.INFO The most relevant business & tech news

☆ Turkey says it's ready to help de-escalate Israeli-Palestinian conflict
▼ + stars: | 2023-10-07 | by ( Tuvan Gumrukcu | ) www.reuters.com time to read: +2 min

ANKARA, Oct 7 (Reuters) - Turkish Foreign Minister Hakan Fidan held calls on Saturday with his regional counterparts to discuss the fighting between Israel and Palestinians, a foreign ministry source said, as Ankara said it stood ready to help de-escalate the situation. The source said Fidan discussed the conflict with his Saudi, Qatari, Iranian, Palestinian and Egyptian counterparts, but did not provide any further details. Earlier, Turkey's foreign ministry repeated President Tayyip Erdogan's call for restraint and strongly condemned the loss of civilian lives. The conflict comes as Turkey, which has backed Palestinians in the past and supported a two-state solution to the conflict, works to normalise ties with Israel after years of animosity. Prior to Saturday's violence, Erdogan had said Israeli Prime Minister Benjamin Netanyahu may visit Turkey in October-November to discuss cooperation on energy, while Turkey's energy minister said he planned to visit Israel in November.

Persons: Hakan Fidan, Fidan, Antony Blinken, Tayyip Erdogan's, Israel, Erdogan, Benjamin Netanyahu, Nick Macfie, David Holmes Organizations: Turkish, Saudi, Qatari, Israel, Thomson Locations: ANKARA, Israel, Ankara, Turkey

A view shows oil pump jacks outside Almetyevsk in the Republic of Tatarstan, Russia June 4, 2023. REUTERS/Alexander Manzyuk/File Photo Acquire Licensing RightsOct 3 (Reuters) - Oil prices slipped 1% in early Asian trade on Tuesday, after falling to a three-week low in the previous session, on a stronger U.S. dollar, rising U.S. bond yields and mixed supply signals. "(Brent) crude oil prices slid to (around) $90 a barrel as rising US yields and a stronger US dollar dominated market sentiment," ANZ analysts said in a client note. Higher interest rates along with a stronger dollar also makes oil more expensive for holders of other currencies, which could dent oil demand. BMI Research analysts said "given that the global economy is slowing, the group will likely want to maintain their current cuts, while signposting the scope for further reductions, if market conditions demand it."

Persons: Alexander Manzyuk, Brent, Laura Sanicola, Trixie Yap, Shri Navaratnam, Simon Cameron, Moore Organizations: REUTERS, . West Texas, ANZ, U.S ., U.S, Reserve, BMI Research, Organization of, Petroleum, Thomson Locations: Republic of Tatarstan, Russia, Iraq, OPEC

Oil rigs are seen at Vaca Muerta shale oil and gas drilling, in the Patagonian province of Neuquen, Argentina January 21, 2019. On its first day as the front-month, Brent futures for December delivery settled $1.49, or 1.6%, lower at $90.71 a barrel, or down about 5% from where the November contract expired on Friday. Analysts said some traders took profits after crude prices rose nearly 30% to 10-month highs in the third quarter. Higher interest rates along with a stronger dollar, which makes oil more expensive for holders of other currencies, could dent oil demand. A Reuters survey showed OPEC oil output rose for a second straight month in September despite cuts by Saudi Arabia.

Persons: Agustin Marcarian, Brent, Gelber, Edward Moya, Scott DiSavino, Paul Carsten, Yuka Obayashi, Emily Chow, Marguerita Choy, David Gregorio Our Organizations: REUTERS, U.S ., . West Texas, New York Mercantile, Intercontinental Exchanges, U.S . Commodity Futures Trading Commission, Associates, U.S, . Federal Reserve, World Bank, ING, Organization of, Petroleum, Reuters, Thomson Locations: Vaca, Patagonian, Neuquen, Argentina, U.S, Europe, Germany, Britain, China, Iraq, Saudi Arabia, OPEC, Russia, New York, London, Tokyo

Oil rigs are seen at Vaca Muerta shale oil and gas drilling, in the Patagonian province of Neuquen, Argentina January 21, 2019. U.S. West Texas Intermediate (WTI) crude fell $1.90, or 2.1%, to $88.89 per barrel. Energy analysts cited profit taking after crude prices rose nearly 30% in the third quarter to 10-month highs. A Reuters survey showed OPEC oil output rose for a second straight month in September despite cuts by Saudi Arabia. In Europe, manufacturing data showed the euro zone, Germany and Britain remained mired in a downturn in September, pressuring oil demand.

Persons: Agustin Marcarian, Brent, Jerome Powell, Scott DiSavino, Paul Carsten, Yuka Obayashi, Emily Chow, Kim Coghill, Kirsten Donovan, Sharon Singleton Organizations: REUTERS, U.S ., . West Texas, Energy, New York Mercantile, Intercontinental Exchanges, U.S . Commodity Futures Trading, U.S, U.S . Federal Reserve, Treasury, ING, Organization of, Petroleum, Reuters, Bank, Thomson Locations: Vaca, Patagonian, Neuquen, Argentina, Friday's, U.S, Iraq, Saudi Arabia, OPEC, Russia, Europe, Germany, Britain, China, New York, London, Tokyo

Oil rigs are seen at Vaca Muerta shale oil and gas drilling, in the Patagonian province of Neuquen, Argentina January 21, 2019. Brent December crude futures rose $1.04 to $93.24 a barrel by 1124 GMT after falling 90 cents on Friday. Both benchmarks rallied nearly 30% in the third quarter on forecasts of a wide crude supply deficit in the fourth quarter after Saudi Arabia and Russia extended additional supply cuts to the end of the year. A Reuters survey on Monday showed OPEC oil output rose for a second straight month in September, led by increases in Nigeria and Iran despite cuts by Saudi Arabia. Despite the brighter China news, European manufacturing data showed the euro zone, Germany and Britain all remained mired in a downturn in September - bad news for oil demand.

Persons: Agustin Marcarian, Baker Hughes, Brent, Hiroyuki Kikukawa, Haitham Al Ghais, Paul Carsten, Yuka Obayashi, Emily Chow, Kim Coghill, Kirsten Donovan Organizations: REUTERS, . West Texas, of, Petroleum, Reuters, NS, ING, PMI, Thomson Locations: Vaca, Patagonian, Neuquen, Argentina, U.S, Saudi Arabia, Russia, OPEC, Nigeria, Iran, Turkey, Iraq, China, Germany, Britain, London, Tokyo

☆ Turkey says to re-start operations of Iraq oil pipeline this week
▼ + stars: | 2023-10-02 | by ( ) www.reuters.com time to read: +1 min

Turkey's Energy Minister Alparslan Bayraktar talks during a meeting in Ankara, Turkey, September 14, 2023. Turkish Energy Ministry Press Office/PPO/Handout via REUTERS/File photo Acquire Licensing RightsABU DHABI, Oct 2 (Reuters) - Turkey will restart operations this week on a crude oil pipeline from Iraq that has been suspended for about six months, Turkey's Energy Minister Alparslan Bayraktar said on Monday. "Within this week, we will start operating the Iraq-Turkey pipeline after resuming operations. Turkey has been a reliable transit route for oil and gas, he added. Turkey was weighing legal action against Iraq, which has an outstanding enforcement case against Turkey, Bayraktar said last month.

Persons: Alparslan Bayraktar, ABU, Bayraktar, Maha El, Nadine Awadalla, Louise Heavens, Jonathan Spicer Organizations: Turkey's Energy, Turkish Energy Ministry Press, REUTERS, International Chamber of Commerce, ICC, Iraq, Thomson Locations: Ankara, Turkey, Handout, ABU DHABI, Iraq, Abu Dhabi, Baghdad

☆ UN General Assembly: Erdogan, Netanyahu meet for first time as relations thaw
▼ + stars: | 2023-09-19 | by ( Humeyra Pamuk | Thomson Reuters | Humeyra Pamuk Is A Senior Foreign Policy Correspondent Based In Washington Dc. She Covers The U.S. State Department | ) www.reuters.com time to read: +2 min

[1/2] Turkey's President Tayyip Erdogan addresses the 78th Session of the U.N. General Assembly in New York City, U.S., September 19, 2023. REUTERS/Brendan McDermid Acquire Licensing RightsNEW YORK, Sept 19 (Reuters) - Turkish President Tayyip Erdogan and Israeli Prime Minister Benjamin Netanyahu met in for the first time in person on Tuesday, marking a major milestone as the two countries have been slowly improving their ties. A visit to Turkey by Israeli President Isaac Herzog in March 2022, followed by visits by both foreign ministers, helped warm relations after more than a decade of tensions. Erdogan told Netanyahu that the two countries can cooperate on energy, technology, innovation, artificial intelligence as well as cyber security, the presidency said. "In the meeting, opportunities for energy cooperation primarily in areas like natural gas exploration, production and trade were discussed," said Turkey's Energy Minister Alparslan Bayraktar, who participated.

Persons: Tayyip Erdogan, Brendan McDermid, Benjamin Netanyahu, Israel's, Isaac Herzog, Erdogan, Netanyahu, Alparslan Bayraktar, Humeyra Pamuk, Grant McCool Organizations: General Assembly, REUTERS, Israeli, United Nations General Assembly, Energy, Turkey's Energy, Thomson Locations: New York City, U.S, Israel, Turkey, Ankara, Gaza, Turkish, Egypt, UAE, Saudi Arabia

☆ Column: Turkey emerges as Europe's largest coal power producer in June
▼ + stars: | 2023-07-19 | by ( Gavin Maguire | Thomson Reuters | Gavin Maguire Is The Global Energy Transition Columnist. He Was Previously Asia Commodities | ) www.reuters.com time to read: +5 min

July 19 (Reuters) - Turkey overtook Germany and Poland to become Europe's top coal-fired electricity producer in June, and for the opening half of 2023 generated more coal power than Poland for the first time to emerge as Europe's second-largest coal user behind Germany. Even Poland, Europe's most coal-dependent economy, has seen a modest net capacity decline since 2018. Indeed, Turkey's electricity generation from all clean sources has risen by 40% since 2018, while generation from fossil fuels declined by more than 8% over that period. Further increases in coal-fired generation may in turn push Turkey farther ahead of Poland in terms of coal generation over the near term, and potentially narrow the gap more on Europe's top coal user, Germany. That should undermine coal's usage momentum in Turkey's energy system, and potentially result in Turkey making only a fleeting entry as one of Europe's main coal users.

Persons: Turkey's, Gavin Maguire, Robert Birsel Organizations: Germany, COVID, Reuters, Thomson Locations: Turkey, Germany, Poland, Europe, Turkey overtakes Poland, Southern Europe, Italy, Romania, Czech Republic, Ukraine

☆ Turkey expects $10 billion in Gulf investments after upcoming Erdogan visit, sources say
▼ + stars: | 2023-07-07 | by ( Orhan Coskun | ) www.reuters.com time to read: +2 min

ANKARA, July 7 (Reuters) - Turkey expects Gulf countries to make direct investments of about $10 billion initially in domestic assets as part of President Tayyip Erdogan's trip to the region in two weeks, according to two senior Turkish officials. Direct investments worth about $10 billion "should come within a short time and this is crucial," said one of the officials. "Expectations are high for the Gulf visit. Reuters reported after the visit that Turkey came away expecting direct investments soon. The official said the expected investments from Gulf states would "show confidence in the Turkish economy since it would be direct investments, which is extremely important."

Persons: Tayyip Erdogan's, Erdogan, Abu Dhabi, Cevdet Yilmaz, Mehmet Simsek, Sheikh Mohammed bin Zayed, Yilmaz, Jonathan Spicer, Ros Russell Organizations: Turkish, United Arab Emirates, Reuters, Thomson Locations: ANKARA, Turkey, Saudi Arabia, Qatar, Riyadh, Doha, Abu, Ankara, UAE, Nahyan, Turkish

Under the terms of the agreement, up to $4 billion in Turkish energy payments to Russia may be postponed until next year, both sources told Reuters under condition of anonymity. Turkey, which is preparing for elections on Sunday, depends heavily on energy imports and Russia is its largest supplier. The source said Turkey could push back further such payments in the coming months depending on the course of energy prices. The Russian and Turkish energy ministries, and their respective energy companies Gazprom and Botas, have not responded to requests for comment on the issue. Turkish Energy Minister Fatih Donmez said last week that Turkey and Moscow agreed a deal allowing Ankara to defer energy payments up to a certain amount, but did not give details.

ANKARA, March 28 (Reuters) - Turkey's Energy Ministry said on Tuesday that Iraq had been ordered by the International Chamber of Commerce (ICC) to pay compensation to Ankara in a longstanding arbitration case related to oil exports from northern Iraq via Turkey. The Turkish energy ministry statement was released after Iraq's oil ministry said on Saturday the ICC had ruled in its favour in the case. The Turkish statement said the ICC had recognised a majority of Turkey's demands, without saying how much compensation Iraq had been ordered to pay. "(The ICC) ordered Iraq to pay a compensation to Turkey," the ministry said, without revealing the amount of compensation. "This case is in fact a reflection of disagreement between Iraq's central government and Iraq's Kurdish Regional Administration," the Turkish ministry said.

☆ Column: Model no more? Turkey's energy transition reversed in 2022: Maguire
▼ + stars: | 2023-01-19 | by ( Gavin Maguire | Thomson Reuters | Gavin Maguire Is The Global Energy Transition Columnist. He Was Previously Asia Commodities | ) www.reuters.com time to read: +6 min

As Turkey's overall coal imports grew by only 8.8% in 2022, the surge in Russian purchases came at the expense of other suppliers such as Colombia and Australia. In contrast, Turkey's electricity generation from solar and wind averaged 16% in 2022, meaning that an overwhelming majority of power was generated from other sources. Share of electricity from solar + wind in Turkey, Germany & SpainAn additional 22% of Turkey's electricity came from hydro facilities in 2022, which provided valuable dispatchable clean power for utilities. Yet solar and wind supplies come with the headache of intermittency, when power generation totals slump at night and during cloudy or windless days. Until 2022, Turkey had been on a path to use cleaner-burning natural gas as that main source of baseload supply, with plans to phase out high-polluting coal use over time.

☆ Here's where stocks and inflation could be headed next after the market's stunning reversal
▼ + stars: | 2022-10-14 | by ( Jason Ma | ) www.businessinsider.com time to read: +7 min

Analysts at Barclays raised their forecasts on Fed rate hikes in December and February to 75 and 50 basis points, respectively. Any relief rally that takes hold in the stock market could send the S&P 500 to its first big resistance test around 3,914, Stockton added. High inflation reports could become the norm after more than a decade of sub-2% inflation readings, according to Bank of America. That's because underinvestment in energy production, sticky wage inflation, and aging demographics are set to drive structural inflation for years to come. There's reason to believe the stock market is close to its low point, according to RBC.

☆ Putin offered to redirect natural-gas supplies to Europe via Turkey and make the country a gas hub. Turkey said this is the first time it's heard of the plan.
▼ + stars: | 2022-10-13 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Putin said Russia could send natural gas to Europe via Turkey, making it a "gas hub," per Reuters. That's because the key Nord Stream natural-gas pipelines linking Russia to Europe are damaged. Putin's statement comes two weeks after leaks were first reported on the key Nord Stream pipelines that transport natural gas from Russia to Germany. The German government flat out rejected the proposal to use Nord Stream 2 on Wednesday. Last month, he said the EU can simply turn on the new Nord Stream 2 pipeline if it wants more natural gas from Russia.

Search resuls for: "Turkey's Energy"

14 mentions found