Iraq Power will be the first Conference to discuss Iraq's power generation plans and strategies, to build a sustainable power infrastructure in Iraq and meet domestic demand. The CWC Group, producers of Iraq Petroleum, has announced the launch of Iraq Power, taking place 17 June 2013 at the Intercontinental Park Lane, London. Iraq Power will be the first Conference to address Iraq’s plans to develop a moder ...

Turkey which is on the eve of  undertaking huge energy investments to include nuclear, is reported to have  increased its installed electricity capacity to 58,000 MW by adding a capacity nearly 5,000 MW every year in the last five years. This fact was announced by Energy Market Regulatory Authority (EPDK) President Hasan Köktaş yesterday. Mr. KOKTAS said at a press event Turkey’s electricity consumption had ...

Tüpraş, Turkey's largest industrial enterprise, is the 8th largest refinery company in Europe and 30th largest in the world. Tüpraş, only Turkish company operating in refining industry is Turkey's largest industrial enterprise by its total sales revenue of TL 18,215 million which added a gross value of TL 17,257 million to the country's national income. Tüprai is 8th largest in Europe and 30th largest refin ...

Borusan EnBW Enerji has broken ground for the Balabanli Wind Power Plant in Turkey’s northwestern province of Tekirdag. The plant’s 22 turbines will generate 50 megawatts of power once it joins the energy-hungry country’s national grid by 2013. The ceremony marking the commencement of the construction took place in Istanbul with the attendance of the executives of Borusan and EnBW, and Turkey’s Minister of ...

Speaking at a press conference during his stay in Azerbaijan, Prime Minister Recep Tayyip Erdoğan stated that the project started between Turkey and Azerbaijan in order to transport Azerbaijani gas through Turkey to Europe, the Trans Anatolian Pipeline, or TANAP, will make its mark on history. Speaking at a joint press conference following the Turkey-Azerbaijan High Level Strategic Cooperation Council Meeti ...

Oil firm Genel Energy acquired a majority stake in Iraqi Kurdistan's Miran oilfields after inking a $450 million deal with English energy firm Heritage Oil on Tuesday, providing Genel with a 51 percent share in extraction rights in a region that the company says will secure six or seven years of oil for Turkey. Genel paid roughly $156 million to bring its stake in the jointly owned oil bloc -- semi-autonomo ...

Turkish firm gets Israeli loan for power production Despite strained relations between Turkey and Israel following the flotilla incident in May 2010, Turkish and Israeli business ventures continue full steam ahead as witnessed by Zorlu Enerji’s $277 mln natural gas investments in Israel The Ashdod and Ramat natural gas facilities in Israel have been granted a loan of more tharn 1.1 billion Israeli Shekels ( ...

The Turkey-Gabon Investment and Trade Forum was held yesterday by the Turkish Confederation of Businessmen and Industrialists (TUSKON) in Istanbul. Speaking to Turkey's most prominent businessmen and company representatives at the forum, Gabon's President Ali Bongo Ondimba said, "While diversifying our partners, we see Turkey, which has experienced speedy and strong growth, has the ability to assist us with ...

During a press statement, Vladimir Ivanovski, Russia’s Ambassador to Turkey said the nuclear plant to be built in Mersin Akkuyu may cost as high as USD 25 billion, while the initial costs were estimated at USD 20 billion. Ivanovski said, “Our primary objective is to construct the nuclear plant. The initials costs were set at USD 20 billion; however it is likely that this figure may rise up to USD 25 billion ...

Caterpillar executives in Turkey for investment talks Turkey’s new investment incentive scheme garnered attention from world’s leading companies in a variety of sectors including energy, construction, heavy machinery and petrochemicals that seek to establish a solid footing in one of the fastest growing emerging countries. Executives from US-based heavy equipment manufacturer Caterpillar and its local partn ...

Turkey and Azerbaijan have had very strong and friendly relations throughout their histories. These close ties have also played a very important role in business and political relations between two countries. Turkey is a very powerful ally in the Middle East (and eastern Europe) and Azerbaijan owns huge oil sources. It has been quite usual to see powerful joint projects between two countries recently and  i ...

Tüpraş net profits drop 6 pct to 288 mln liras Oil refiner Tüpraş posts a drop in quarterly profits, but an increase in sales. DHA photoTurkey’s largest oil refiner Tüpraş posted yesterday a first quarter loss in net profits from 306 million Turkish Liras to 288 million liras. The company’s sales, however, were up seven percent in the same period, up to 5.3 million tons from 4.9 million tons in the first qu ...

Japanese industrial conglomerate Toshiba is soon to take concrete steps for a deal to build Turkey’s second nuclear power plant on the country’s Black Sea coast, according to Turkey’s Minister of Science, Industry and Technology, Nihat Ergun, currently in Japan on an official visit. Minister Ergun said that Toshiba preferred to cooperate with a local company for the financing, construction and operation of ...

Turkey plans to build a power plant on the Iraqi border to sell electricity to Iraq in return for natural gas, says Turkey’s Energy Minister Taner Yıldız The Turkish government plans to build a power station near the northern Iraqi border and may sell electricity to Iraq in exchange for natural gas, Turkey’s energy and natural resources minister said April 13. “With the power station we build near the north ...

Doğan Holding, one of the largest business (media and other) groups in Turkey held a press meeting in Istanbul to share the group's vision with journalist. Doğan Holding’s total consolidated revenues increased by 14 percent year on year in 2011 to 2.8 billion Turkish Liras, the group announced yesterday. The holding made a total of 757 million liras of net loss in 2011 mainly due to a now-settled tax confli ...

Saudi and Chinese investors in line for Turkey’s gas distribution sale The privatization of  Turkey’s second largest gas distribution network draws investors from China and Saudi Arabia as the bidding period nears its end on April 16. The tender process for the 80 percent shares of Baskent Dogalgaz A.S., the company that supplies natural gas to the Turkish capital Ankara, will be over by the end of next mon ...

Istanbul has become a city of conferences. Every week there are many conferences and summits of all types held in the city. Hence, it was not surprising that the most vibrant city in Turkey will be hosting the World Energy Council's fourth World Energy Leaders' Summit this April. Turkey's energy sector has gained a lot of interest from foreign investors in recent years. The country has made big leaps toward ...

Turkey switches from Iranian to Libyan oil Turkey is planning to begin importing oil from Libya instead of Iran as it seeks to comply with U.S. demands that countries reduce their dependence on the Islamic republic’s natural resources, according to Energy Minister Taner Yıldız. “We will begin purchasing crude oil from Libya via the private Turkish Petroleum Refineries Company [TÜPRAŞ] in 2012. We believe th ...

Turkish Prime Minister Erdoğan tells world leaders that Turkey is determined to provide 10 percent of its electricity needs from nuclear by 2030 Turkey focuses on low-cost energy resources, says Turkish PM Erdoğan. AA photoTurkey is determined to provide some 10 percent of its electricity needs from nuclear facilities as of 2030, Prime Minister Recep Tayyip Erdoğan said, speaking at the Nuclear Security Sum ...

A sign stands in front of the Moscow headquarters of Gazprom’s exports division. The firm eyes storge in Turkey.Russian Gazprom is conducting studies to see if it can build natural gas storage facilities in Turkey, according to Gazprom officials who spoke to Anatolia news agency. Turkey’s natural gas consumption has increased three-fold in the past decade, reaching 40 billion cubic meters, which has made Tu ...

Trade between Turkey and the Gulf offer more than the energy business, say Turkish ministers. Turkey’s plans include restoring a historic rail line to the Gulf Joint investments between Turkey and the Gulf states are crucial as they will benefit all parties concerned, Turkish leaders said yesterday during the Turkey-Gulf Business Council Forum in Istanbul. Turkish Finance Minister Mehmet Şimşek said there w ...

Turkey ranks 10th in Europe in wind energy production According to data from the European Wind Energy Association (EWEA), Turkey has increased its electricity production from wind energy by 36 percent last year, and thus ranked the 10th in Europe. Accordingly, Turkey has increased its wind power capacity which was on the level of 1,329 MW at the end of 2010 to 1,799 MW in 2011. Germany, which is the EU coun ...

Ukrainian president: talks continue between Ukraine, Azerbaijan & Turkey for joint energy projects Ukraine's President Viktor Yanukovych said that there were trilateral talks going on between Ukraine, Azerbaijan and Turkey to implement joint energy projects. Following his meeting with Azerbaijani President Ilham Aliyev, Yanukovych said that Ukraine was in an active dialogue with Azerbaijan on implementi ...