Turkey's Petkim sees 64% drop in profits in 1Q18

- Petkim's net profit in first quarter of 2018 decreases to 131.4 million Turkish liras, company announces

home > Finance, Refining/Petro Chemistry, Türkiye, General 04.05.2018 12:01 Murat Temizer

Petkim, Turkey's petrochemical raw material manufacturer, reported a 64 percent plummet in its net profit to 131.4 million Turkish liras in the first quarter of 2018 compared to the same period of last year, Petkim announced Friday.

The company's net profit was around 365.9 million liras in the first quarter of 2017.

Net sales of 1.88 billion liras were made in the same quarter and the utilization capacity rate of the company was 76 percent.

US$1 equals 4.23 Turkish liras, according to Turkey's Central Bank data.

By Murat Temizer

Anadolu Agency

energy@aa.com.tr

Global oil supply falls in March 2019

- OPEC crude oil production decreases by 534 thousand barrels per day to average 30.02 million barrels per day, data shows

08.01.2020 Oil , Finance , Americas , Middle East-Africa , General

Turkish household gas consumption down by 12.3% in 2018

- Gas consumption drop due to 1.8 degrees centigrade rise in average temperatures in Turkey

02.09.2021 Natural Gas , Finance , Türkiye , General

US revises up oil price forecasts for 2019

- Energy Information Administration revises up Brent oil by $2 per barrel for this year

02.09.2021 Upstream , Stock Market , Americas

Turkey set to invest $11B in energy efficiency

- Country also hopes to cutmarc primary energy consumption 14%, says deputy energy and natural resources minister

10.04.2019 Renewable , Finance , Projects , Investments , Renewable , Europe

Renewables, electrification can reduce 75% of emissions

- IRENA's new report finds every dollar spent on energy transition will pay off by up to seven times

10.04.2019 Finance , Projects , Investments , Renewable , World , Türkiye , Europe

Saudi Arkad wins tender to build gas p/line in Bulgaria

- Saudi-led consortium wins contract to lay pipeline in Bulgaria to transport Russian natural gas

09.04.2019 Natural Gas , Investments , Türkiye , Europe , General

Saudi Arabia to install more solar, wind energy by 2028

-Developers in Saudi Arabia will build 6.2 GW of wind capacity between 2019-2028, and 53 GW of PV capacity through 2024

09.04.2019 Finance , Wind , Solar , General

Anadolu Agency launches energy journalism training

- Twenty reporters from Middle East, South America, Eurasia and North Africa will participate in two-week-long program

09.04.2019 Electricity , Natural Gas , Oil , Finance , Renewable , Energy Diplomacy , General

Turkey's business circle expects economic reforms

- Businesspeople see upcoming period until next elections as opportunity for reforms

07.04.2019 Finance , Türkiye

Global Wind Energy Council sees steady growth up to 2023

- GWEC Market Intelligence expects new installations for onshore and offshore of more than 55 GW each year until 2023

06.04.2019 Finance , Wind , General

UK minister resigns amid Brexit row with government

- Minister for Wales and government whip Nigel Adams resigns after PM May's decision to start Brexit talks with opposition

03.04.2019 Finance , Investments , Europe

Turkey, EU chambers and exchanges to work together

- Chambers and commodity exchanges to focus on digitalization, agriculture, women entrepreneurship and SMEs

03.04.2019 Investments , Türkiye , Europe

Turkey's annual inflation rate at 19.71 pct in March

- New data shows yearly inflation in March slightly up 0.04 percentage point from 19.67 percent previous month

03.04.2019 Finance , Türkiye

African free trade zone gets final needed approval

- Parliament of Gambia approves ratification of massive new $3 trillion African Continental Free Trade Area agreement

03.04.2019 Investments

Ukraine's Naftogaz receives $1 bln Chinese loan

-Insurance coverage from Sinosure does not need sovereign guarantee, meaning Naftogaz will not rely on Ukraine’s state budget

02.04.2019 Finance , Europe , Eurasia , General

Upcoming no-election period chance for reforms: TUSIAD

- Turkish business body says tight monetary and budget policies should be a priority for economic confidence environment

01.04.2019 Finance , Investments , Energy Diplomacy

Turkey's energy import bill up 2.7% in February 2019

- Total imports cost nearly $13.59 billion in February, with energy accounting for 25.32 percent

30.03.2019 Oil , Finance , Türkiye

'Turkey to enter normalization process after elections'

- Nation will enter reform period, where positive results of economic rebalancing period will be seen, says finance minister

29.03.2019 Finance , Türkiye , General

Turkey earns $55M+ from roads, bridges in 2019

- Istanbul's July 15 Martyrs' Bridge and Fatih Sultan Mehmet Bridge yield $12.7M, while highway tolls earn some $43M

29.03.2019 Finance , Türkiye , General

Largest Islamic energy bank to include Turkish projects

- Istanbul can be Islamic financial hub for Europe, Kuala Lumpur for Asia, Doha for MENA, says CEO of Qatar Financial Centre

28.03.2019 Finance , Türkiye , General

EP calls for financial police force, intelligence unit

- Parliament report says seven member states show characteristics of tax haven

27.03.2019 Finance , Europe

'World to lose $6 trillion due to cyberattacks by 2020'

- World loses $3 trillion in 2015 due to cyberattacks, head of Turkey’s mobile service association said

26.03.2019 Finance , World

Brent falls to $66.44 on US recession fears on Mar. 25

- Brent crude traded $66.44 at 0712GMT on Monday, and WTI registered as $58.67 at the same time

26.03.2019 Oil , Finance , Americas , General

Turkey's manufacturing capacity usage up in March

- Central Bank survey shows local units operating in manufacturing industry at 74.3 pct capacity this month

25.03.2019 Finance , Türkiye , General

US sanctions Venezuela bank over Guaido aide's arrest

- Treasury chief Steven Mnuchin says BANDES being used by Venezuelan government to move funds abroad

25.03.2019 Finance , Energy Diplomacy , Americas

Oil discoveries in SE Turkey to add $700M to economy

- Turkey discovers oil in three fields in southeastern provinces of Siirt and Diyarbakir

25.03.2019 Oil , Finance , Türkiye , General

EU awards €323 million grant to Baltic synchronisation

- Synchronisation of Baltic States' electricity grid with Europe is essential political priority for Energy Union, EC says

22.03.2019 Electricity , Finance , Europe , General

US oil stocks fall, production up for w/e March 15

- Crude production increases by 100 thousand barrels while inventories fall by 9.6 million barrels

22.03.2019 Oil , Finance , Upstream , Downstream , Americas , General

Turkish consumer confidence surges in March

- Consumer confidence index stands at 59.4 this month, up from 57.8 in February, says statistical authority

21.03.2019 Finance , Türkiye , General

EU to offer €750M funding for clean energy projects

- The call for proposals will be open until June 13, European Commission says

22.03.2019 Renewable , Investments , Europe

US sanctions on Venezuela may worsen crisis: UN

- US sanctions on Venezuela may worsen South American country's economic situation, UN human rights chief warns

21.03.2019 Oil , Stock Market

Turkey expects more EU actors in energy exchange market

- Energy Minister Fatih Donmez says work underway to expand Turkey's energy exchange market to draw more European participants

21.03.2019 Natural Gas , Stock Market , Energy Diplomacy , Türkiye , General

Turkey’s Bursa province to host major business summit

- Uludag Economy Summit to feature around 100 speakers, including officials, businesspeople and academics

19.03.2019 Finance , Türkiye , General

Number of US oil rigs falls by 1 to 833 w/e Mar. 15

- Despite slight drop in weekly oil rig count, oil prices fell on Friday

18.03.2019 Oil , Finance , Americas , General

Brent sees rise to $67.23 at week beginning March 18

- Losses in Venezuela and lower Saudi Arabian and Iraqi output brought OPEC's production in February to lowest in four years

19.03.2019 Oil , Finance , Americas , General

Naftogaz pays $543.9 mln. to Ukraine's state budget

- Naftogaz group remains biggest contributor to Ukraine’s state budget

18.03.2019 Natural Gas , Finance , Eurasia , General

Canada's Valeura sees stable, secure setting in Turkey

-Valeura sees 37 percent rise in realized gas price in 2018 and in 4th quarter received over $9 per metric cubic feet for gas

16.03.2019 Natural Gas , Finance , Natural Gas , Türkiye , General

US announces additional $397M in aid for Syria relief

- $135 million for efforts inside Syria, $81 million for Turkey to support schools, psychosocial programs

15.03.2019 Finance , Americas , Middle East-Africa , General

Eni makes new gas discovery in offshore Egypt

- Thirty three meters of gross sandstone pay with good petrophysical properties found in Nour-1 well

15.03.2019 Oil , Finance , Europe , Middle East-Africa , General

Global oil supply falls in Feb. '19

- OPEC crude oil production decreases by 221 thousand barrels per day to average 30.55 million barrels per day, data shows

15.03.2019 Oil , Finance , Refining/Petro Chemistry , General

Turkish private sector's loans from abroad down in Jan.

- Central Bank says short-term loans total nearly $14B, long-term loans amount to some $210B

14.03.2019 Finance , Türkiye , General

Oil prices up with fall in US crude stocks, production

- Decline in inventories and output alleviates some investors' worries over rising, global oversupply

15.03.2019 Upstream , Stock Market , Americas

China-Turkey JV wins Salt Lake gas storage expansion

- Last June, World Bank and China-led Asian Infrastructure Investment Bank approved $1.2B for Turkey's gas storage facility

14.03.2019 Natural Gas , Finance , Türkiye , Asia , General

Moscow slams new US sanctions on Russia-Venezuela bank

- Russian Foreign Ministry says US undermining credibility of dollar by such moves

13.03.2019 Finance , International Relations , Eurasia , Americas

Oil prices up as Iran, Venezuela production due to fall

- Two countries are expected to account for a total of 1.76 million barrels per day in lost production

13.03.2019 Upstream , Stock Market , International Organization , Americas , Middle East-Africa

US sanctions Russian bank for link to Venezuela's PDVSA

- Treasury Department says Evrofinance Mosnarbank evaded US restrictions and supported Venezuelan oil company

13.03.2019 Finance , Energy Diplomacy , Americas , General

Saudi Arabia’s al-Jubeir meets with Indian officials

- Days after visiting Pakistan, Minister of State for Foreign Affairs Adel al-Jubeir pays first visit to India

12.03.2019 Finance , Energy Diplomacy , Asia , Middle East-Africa , General

Trump proposes record-high $4.7 trillion budget

- Budget sees cuts of five percent to domestic spending but boosts Pentagon's budget

12.03.2019 Finance , Americas , General

Eni signs 'Mind the Bridge' partnership with Europe

- Eni signs up to Startup Europe Partnership (SEP) platform to help best startups emerge from local ecosystems and scale-up

11.03.2019 Finance , Renewable , General

Kalyon Energy CEO elected as Turkish Wind Energy head

-Turkey Wind Energy Association selects new board at its 12th General Assembly in Ankara

12.03.2019 Finance , Renewable , Türkiye , General

Brent sees slight rise to $66.27 on Monday, Mar. 11

- Increase due to fall in number of US oil rigs

12.03.2019 Oil , Finance , Americas , Middle East-Africa , General

Venezuela to pay $8.7B compensation to ConocoPhillips

- A tribunal ruled that ConocoPhillips’ investments in three oil projects in Venezuela violated international law

12.03.2019 Projects , International Organization , Americas

TurkStream's Kiyikoy receiving terminal 50% completed

- After terminal construction is complete, series of tests will be carried out in preparation for transmission by end of 2019

12.03.2019 Natural Gas , Projects , Türkiye , Eurasia , General

World Bank approves $165M for Rohingya in Bangladesh

- Fund aims to build basic infrastructure, improve community resilience and help prevent gender-based violence, bank says

11.03.2019 Finance , Asia , General

Norway's wealth fund seeks to divest oil, gas holdings

- Goal is to reduce vulnerability to permanent oil price decline, says finance minister

10.03.2019 Upstream , Upstream , Investments , Europe , General

Number of US oil rigs falls by 9 to 834

- Despite decrease in weekly oil rig count, crude prices slump on US job market slowdown, European growth concerns

10.03.2019 Oil , Finance , World , General

Oil down with weak Eurozone estimates, Chinese exports

- Chinese exports fall in February, signaling future weaker oil demand

08.03.2019 Upstream , Investments , Europe , Asia

ExxonMobil expects earnings to rise 140 percent by 2025

- Company says estimated total earnings potential has increased by around $9 billion

08.03.2019 Oil , Finance , Americas , General

Spain’s airport operator launches solar energy project

- Spanish airport operator, Aena will invest €250 million in renewable energy to save energy and cut carbon emissions

08.03.2019 Finance , Solar , Europe , General

Rise in oil prices limited by surge in US crude stocks

- Crude stocks in US soar by 7.1 million barrels compared to market expectation of 1.2 million barrel increase

07.03.2019 Upstream , Stock Market , Americas

Turkey’s Central Bank keeps policy rate constant

- Policy rate, also known as one-week repo rate, stays same at 24 pct

06.03.2019 Finance , Türkiye

Turkish energy exchange net income up 18% in 2018

- EPIAS net income reaches 46.9 million Turkish liras in 2018

07.03.2019 Finance , Türkiye

ExxonMobil, Chevron to ramp up Permian output in 5 yrs.

- Companies plan to increase output in oil-rich basin by around 1 million barrels a day each

07.03.2019 Upstream , Investments , Americas

S&P revises Mexico's Pemex outlook to negative

- Pemex decision comes three days after Standard & Poor's revises down Mexico's outlook

06.03.2019 Projects , Oil , Americas

Total buys 10% Arctic LNG 2 project stake from Novatek

- Arctic LNG 2 project's final investment decision is expected in the second half of 2019

05.03.2019 Lng/Lpg , Investments , Europe , Eurasia , General

Cheniere's 1st LNG train in Texas facility completed

- Train 1 is one of three LNG trains that will have total production capacity of up to 13.5 million tonnes per annum

06.03.2019 Lng/Lpg , Projects , Natural Gas , Americas

Oil prices down as China lowers growth forecast

- China lowers growth expectation for 2019 to between 6-6.5 percent from previous estimate of 6.5 percent

06.03.2019 Upstream , Investments , International Relations , Asia

Shell joins consortium for waste-to-chemicals facility

- Facility will be first in Europe to make chemicals and biofuels out of non-recyclable waste materials

05.03.2019 Refining/Petro Chemistry , Projects , Europe

US shale output to grow 15% in 2019 with 5% lower capex

- Shale operators aim to prioritize cost discipline over aggressive growth, Rystad Energy partner says

05.03.2019 Upstream , Investments , Americas

EU plastic package recycling near doubles in 2005-2016

- Despite high recycling rates, only 12 percent on average of material resources in EU in 2016 came from recycled products

05.03.2019 Finance , Renewable , Europe , General

ExxonMobil to enlarge Louisiana facility's production

- Expansion is part of $20 billion investment to build manufacturing facilities in US' Gulf region

04.03.2019 Refining/Petro Chemistry , Investments , Americas

Global electricity investment surpasses $500M in 2018

- Nearly $1.7 billion in cumulative disclosed investment was deployed into energy access markets up to the end of 2018

05.03.2019 Electricity , Finance , Asia , Middle East-Africa , General

Turkey's annual inflation stands at 19.67 pct in Feb.

- Last month, highest annual increase was 29.25 pct in food and non-alcoholic beverages, says TurkStat

04.03.2019 Finance , Türkiye

EBRD finances new trolleybuses in Ukraine's Lviv city

- New vehicles expected to reduce electricity consumption by 20 percent and cut annual CO2 emissions by 1,907 tonnes

04.03.2019 Electricity , Renewable , Finance , Europe , General

Brent increases to over $65 at week beginning March. 4

- Crude oil prices finished higher for week ending March 1 with OPEC's determination to continue cutting production

04.03.2019 Oil , Finance , General

Norway's sovereign fund invests over $700M in Turkey

- As of end December 2018, fund has over $700 million in investments in 58 different Turkish firms, including eight in energy

04.03.2019 Investments , Türkiye , Europe , General

Chesapeake's net income rises in 4th qtr, falls in 2018

- Net income soars 54 percent in final quarter of 2018, but declines 8 percent for full year

01.03.2019 Upstream , Investments , Americas

Siemens Gamesa to supply 21 MW wind turbines in China

- Company signs first deal with State Power Investment Corporate China to supply turbines for circular economy pilot project

28.02.2019 Finance , Wind , Europe , Asia , General

Vattenfall to participate in Dutch offshore wind tender

- Vattenfall agrees to participate in 750 MW offshore tender for Hollandse Kust Zuid, in Dutch North Sea

28.02.2019 Finance , Wind , Europe , General

Equinor buys $16.6 billion of goods & services in 2018

- The company purchases 67% of services and goods from Norwegian suppliers - a annual increase of over NOK 6.5 billion

28.02.2019 Finance , Europe , General

Oil giants amass $1.6 trillion in total revenue in 2018

- Oil giants record massive 73.7 percent increase in collective year-on-year net income in 2018

28.02.2019 Upstream , Stock Market , Europe , Americas

Turkey: Economic confidence up in February

- Country's statistical authority says economic confidence index stands at 79.4 in current month, up from 78.5 in January

27.02.2019 Finance , Türkiye , General

RWE acquires E.ON's renewable, nuclear assets

- RWE receives European Commission's approval for the acquisition of E.ON's assets on late Tuesday

27.02.2019 Renewable , Finance , Nuclear , Europe

EU to invest €10 billion for low-carbon technologies

- New investment program, Innovation Fund, aims to create financial incentives for low-carbon technologies, EC says

27.02.2019 Investments , Europe

UK's RockRose to buy Marathon Oil ops. in North Sea

- Deal will add 13,000 barrels of daily oil equivalent production in 2019 and represents Marathon Oil's exit from UK

27.02.2019 Upstream , Projects , Europe

British Drax's EBITDA increases 9% in 2018

- Biomass makes up 75 percent of company's electricity generation in 2018

27.02.2019 Finance , Europe , General

Fitch places Venezuela's CITGO on negative rating watch

- Agency warns negative rating action could be taken if CITGO fails to replace lost PDVSA oil volumes

27.02.2019 Upstream , Investments , Americas

Turkey launches campaign to raise employment

- Gov't to pay new personnel's salaries, premiums and taxes for 3 months, labor minister says

26.02.2019 Finance , Türkiye

Eni begins construction of PV plant in Sardinia

- Italian oil & gas giant continues energy transition target by creating a new photovoltaic plant in Sardinia

26.02.2019 Oil , Finance , Middle East-Africa , General

New oil, gas projects to triple in 2019: Rystad Energy

- Total volumes could be more than 46 billion barrels of oil equivalent this year, research firm says

26.02.2019 Upstream , Upstream , Investments

President Ali Bongo returns to Gabon

- Ali Bongo is expected to chair cabinet meeting

25.02.2019 Finance , Energy Diplomacy , Middle East-Africa , General

Trump delays deadline for additional Chinese tariffs

- Trump says if additional progress made he and Xi Jinping to meet at his Florida golf resort 'to conclude an agreement'

25.02.2019 Finance , Energy Diplomacy , Asia , Americas , General

Nigeria's senate chief loses reelection bid

- Bukola Saraki's defeat signals end of entrenched political dynasty

25.02.2019 Finance , Middle East-Africa , General

Turkish Central Bank posts $10.7B net profit in 2018

- Central Bank's gold assets in international standard amounted to 488.5 tons as of end of last year

25.02.2019 Finance , Türkiye , General

Turkey likely to see new big energy investments by 2020

- Banks in Turkey to restructure $7-$8 billion credit of energy companies, Garanti Bank's top official says

27.02.2019 Electricity , Investments , Türkiye

Trump likely to meet China's Xi for March trade talks

- Meeting between leaders of world's largest economies to hammer out final details of bilateral trade deal

24.02.2019 Finance , Asia , Americas

Oil prices at three-month high with weaker dollar

- This week both Brent and WTI reached their highest levels at $67.69 and $57.61 respectively - the highest since Nov. 16

24.02.2019 Oil , Stock Market , World

Equinor natural gas sales increase 29 percent in 2018

- Second-largest gas supplier to Europe sells $26 billion worth of gas last year and sees further demand growth towards 2030

22.02.2019 Downstream , Investments , Europe

Gazprom Neft's net profit increases 48.7% in 2018

- Higher oil prices help company profits to rise

21.02.2019 Oil , Finance , Europe , Eurasia , General

Norway's energy investments up by 7.5% in 2018

-Oil and gas, manufacturing, mining and quarrying, and electricity supply investments total 217.4 billion Norwegian crowns

21.02.2019 Investments , Europe , General

Akkuyu nuclear plant tracks progress one year on

EU's production of nuclear heat down 1.3% in 2017

Turkish trade minister to visit Russia on Wednesday

Russia's Novovoronezh NPP II unit 2 reaches final stage

GE begins to digitize thermal, renewable power in India

China's coal output up 5.2 pct in September

Asian Dev. Bank to loan $500M to Bangladesh power plant

China’s coal production up 4 percent in April

US coal exports hit 5-year high in 2018: EIA

Global energy demand hits fastest pace this decade: IEA

Engie sells stake in Thailand's Glow for €2.6 billion

Old coal plants in W. Balkans kill 3,000 people: Report

Total inks interim deal for Oman's onshore gas block 12

BP commits $100M to reduce greenhouse gas emissions

Indian consortium to explore Abu Dhabi Onshore Block 1

Japan's Inpex wins Abu Dhabi onshore exploration bid

‘Ankara to always protect Turkish Cypriots’ rights’

Total, ADNOC to explore gas in Abu Dhabi

Osaka to acquire 35pct stake in US shale gas project

UK announces new measures to back shale gas exploration

US natural gas processing capacity shows rise 2014-2017

Turkey to benefit from many gas supplies & best prices

UAE’s ADNOC to explore oil, gas opportunities in Korea

Equinor natural gas sales increase 29 percent in 2018

Total and partners sign agreement for Papua LNG project

Puerto Rico LNG imports return to pre-hurricane level

Novatek to supply gas to Repsol from Arctic LNG 2

Global LNG trade increases by 8.3% in 2018

Oil prices on rise with Libya tensions & supply cuts

US revises up oil price forecasts for 2019

Oil prices mixed as Brent crude hovers around $71

Brent oil above $70 a barrel with tight global supply

ADNOC inks downstream MoUs with OMV, Borealis

US oil stocks fall, production up for w/e March 15

Vitol to acquire asphalt trading business VALT

US crude exports to catch up with Saudi Arabia by 2024

Saudi Aramco to buy 70 pct stake in petrochem. firm SABIC

ADNOC inks downstream MoUs with OMV, Borealis

Baku, Moscow mull Russian oil to Turkey's STAR refinery

Global oil supply falls in Feb. '19

London drivers face new emission charges

EC says Volkswagen, BMW, Daimler broke antitrust rules

EU sets 37.5% CO2 reduction target for new cars by 2030

US biofuels trade, prod. to remain stable through 2020

Engie, Tokyo Gas to establish renewables JV in Mexico

IEA lauds Sweden's energy policies in latest report

Amazon announces three new wind power projects

EC fines GE €52 million in relation to LM Wind takeover

Engie, Tokyo Gas to establish renewables JV in Mexico

Saudi Arabia to install more solar, wind energy by 2028

France's Engie inaugurates first mini-grid in Zambia

Statkraft, redT partner for solar, energy storage in UK

Norway produces 93.6% electricity from hydro in Feb. 19

Norway produces 94.4% electricity from hydro in Jan. 19

Dam will add $83.5M to Turkish economy: President

Norway produces 94% electricity from hydro in Dec. 2018

Enel buys 650 MW of renewable power plants in US

Engie buys French biomethane producer Vol-V Biomasse

Eni, Indonesia’s Pertamina ink circular economy deal

GE begins to digitize thermal, renewable power in India

Turkey set to invest $11B in energy efficiency

Renewables, electrification can reduce 75% of emissions

Venezuela to pay $8.7B compensation to ConocoPhillips

TurkStream's Kiyikoy receiving terminal 50% completed

Turkey set to invest $11B in energy efficiency

Renewables, electrification can reduce 75% of emissions

Saudi Arkad wins tender to build gas p/line in Bulgaria

UK minister resigns amid Brexit row with government

US revises up oil price forecasts for 2019

US sanctions on Venezuela may worsen crisis: UN

Turkey expects more EU actors in energy exchange market

Oil prices up with fall in US crude stocks, production

Gazprom increases gas production by around 18% in first 8 months of year

Turkish-Russian presidents to launch TurkStream on Wed.

Domestic and renewables add 445 MW in Turkey in 1Q19

Turkish household gas consumption down by 12.3% in 2018

EU urges UK to justify Brexit extension

EU's Tusk offers UK 'flexible extension' for Brexit

Trump says US putting $11B worth of tariffs on EU goods

Turkey set to invest $11B in energy efficiency