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Raising interest rates to combat high inflation endangers global economy
- Current economic recession worries are driven by COVID-19 pandemic, high inflation, Russia-Ukraine war and high fuel prices, says economist
US LNG exports to Europe increase year on year by 140% in 2022
- 40% of Europe's total LNG imports came from US last year, according to US Secretary of State Antony Blinken
US crude oil inventories up 0.2% for week ending March 17
- Inventories rise by around 1.1 million to 481.2 million barrels, against American Petroleum Institute's expectation of 1.45 million barrels decline
US crude oil inventories down 0.4% for week ending March 3
- Inventories fall by around 1.7 million to 478.5 million barrels, against American Petroleum Institute's expectation of 308,000 barrels decline
Brent up more than 6% in week ending Jan. 13
- Prices supported by Chinese demand hopes and weak dollar, although recession worries, strong build in crude inventories cap further rise
Egypt and Norway to establish 100 MW green hydrogen plant on Red Sea
- Green Hydrogen Plant is part of Egypt’s wider green hydrogen strategy to produce as cheaply as possible worldwide
Oil prices show weekly loss amid global recession fears
- Both benchmarks fall about 3% due to demand concerns and prospects of economic slowdown
US crude oil inventories down 1.6% for week ending Aug. 12
- Inventories decrease by around 7.1 million to 425 million barrels against market expectation of 117,000-barrel fall
Oil extends losses as demand fears outweigh supply concerns
- Demand worries grow with US official data showing build-up in gasoline inventories despite peak driving season
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Oil prices fall due to recession worries
- Prospects of aggressive rate hikes by Federal Reserve feed expectations of global economic slowdown
Türkiye's daily power consumption down 10.4% on June 26
- Electricity exports amount to 8,995 megawatt-hours and imports total 18,324 megawatt-hours
Signaling shift to coal, EU explores alternatives to Russian supplies
- However, emergency and temporary measures should not be confused with return of coal, energy expert says
US crude oil inventories up 0.5% for week ending June 3
- Commercial crude oil stocks rise by 2 million barrels, against market expectation of 1.8 million barrel draw
Türkiye's daily power consumption up 1.5% on June 7
- Electricity exports amount to 12,141 megawatt-hours and imports total 19,520 megawatt-hours
Türkiye-Israel energy dialogue: What are future prospects for gas deal?
- Harnessing new momentum in relations, two countries discuss possibility of carrying Israeli gas to Europe via Türkiye after almost 7 years
Russia to stop natural gas shipments to Danish Orsted, Shell Energy Europe
- Orsted says it is prepared for this scenario and will continue to pay in euros
Turkiye's daily power consumption up 14.9% on May 30
- Electricity exports amount to 12,108 megawatt-hours and imports total 14,494 megawatt-hours
First welding for Black Sea natural gas pipelaying to start in July
- Operations in Black Sea on schedule with gas poised for use next year, energy minister says
Workshops in Izmir raise awareness on clean energy among young adults
- Nearly 1,750 secondary school pupils have participated in more than 130 technical workshops
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US crude oil inventories down 0.2% for week ending May 20
- Commercial crude oil stocks fall by 1 million barrels, against market expectation of 690,000 barrel draw
Turkiye to soon start mass production of locally manufactured generators: Energy min.
- With pilot studies in place, country also aims to produce turbines locally and install automation systems for power plants
Turkiye's daily power consumption down 8.3% on May 22
- Electricity exports amount to 14,213 megawatt-hours and imports total 16,679 megawatt-hours
South Korean CS Wind eyes offshore wind investment in Turkiye
- Company aims to produce 50 tower sections per week with help of new plant in Izmir
South Korean CS Wind set to open second wind tower factory in Turkiye
- Izmir and its surrounds becomes strategic hub for CS Wind's production, company CEO says
Oil gains around 6% during week ending May 6 on supply fears
- European Commission proposal to ban Russian oil, reluctance of OPEC+ producers to add stock to market supports prices
Russian oil import cuts to EU will be difficult in short-term: experts
- Crude oil volumes at risk from a complete EU embargo are estimated to be around 3.0 million bpd
Oil up over sustained supply worries due to EU proposal to cut Russian oil
- OPEC+'s decision to maintain same production plan for June also supports prices
OPEC+ to maintain same production plan for June
- Next meeting of OPEC and non-OPEC members scheduled for June 2
Oil prices up over proposed ban on Russian gas supplies
- Investors are monitoring OPEC+ group meeting scheduled later Thursday
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Turkish firm exports artificial intelligence-based solar energy platform to five countries
- Solarify AI-based monitoring platform, developed through 100% in-house R&D studies, now in Ukraine, Greece, Senegal, Portugal, and Nepal
East Med. gas could substitute only 20% of EU's Russian gas imports
- Egypt is only country that exports gas in E. Med. currently, at about 10 billion cubic meters last year via its two LNG facilities
Spot market electricity prices for Monday, April 25
- Energy Exchange Istanbul (EXIST) data shows electricity market trade amounts to 1.34 billion Turkish liras
President of Russian oil firm Lukoil resigns
- As of March 31, Alekperov holds 3.12% of voting shares in Lukoil
Oil price up over tight supply worries from Russia and Libya
- Projection of drop in US oil stocks also supports upward price movement
Oil price dwindles on supply woes from Libyan cuts
- Concerns over tight market with lowering demand projections in China both contribute to marginal price drop
Oil up over supply fears amid growing tensions in Ukraine
- EC Commission President von der Leyen calls on EU countries to quickly supply weapons to Ukraine and hints at possibility of sanctions on oil
Turkiye's daily power consumption down 6.8% on April 17
- Electricity exports amount to 12,121 megawatt-hours and imports total 13,581 megawatt-hours
US crude oil inventories up 2.3% for week ending April 8
- Commercial crude oil stocks increase by 9.4 million barrels, more than market expectation of 1.4 million-barrel rise
Installation of Spain's first floating wind turbine to kickstart in 2022
- Pilot turbine will be first grid-connected floating wind turbine in Spain
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Spain's Endolla expects EV penetration in Europe to reach 40% in 10 years
- However developing EV sector needs to tackle challenges with technology, company manager says
Turkiye's Yavuz drill ship set sail for milestone operation in Sakarya gas field
- Pipe laying in Black Sea is projected to start in July or August, energy minister says
Izmir Development Agency calls for international cooperation at WindEurope
- Izmir, with 4.4M population, has become 'production hub' of wind energy, hosting 16 ports, 16 industrial zones, 5 techno parks and 10 universities
Spot market electricity prices for Sunday, April 3
- Energy Exchange Istanbul (EXIST) data shows electricity market trade amounts to 257.6 million Turkish liras
Spot market natural gas prices for Friday, April 1
- 1,000 cubic meters of natural gas on spot market costs 11,798.13 Turkish liras
Turkiye's daily wind power generation hits record high
- More than 22% of total electricity was generated from wind energy sources on Friday
US oil rig count up by 2 for week ending April 1
- Number of US oil rigs rise by 196 compared to one year ago
Gazprom officially demands payments in rubles via Russian bank
- To purchase Russian gas, buyers will need to open ruble accounts in Russian banks as of April 1
Turkiye's energy import bill up 181.8% in February
- Country's crude oil imports increase by 49.6% compared to February 2021
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US crude oil inventories down 0.8% for week ending March 25
- Commercial crude oil stocks decrease by 3.4 million barrels, against market expectation of 1.6 million barrel fall
Spot market electricity prices for Monday, March 28
- Energy Exchange Istanbul (EXIST) data shows electricity market trade amounts to 539.06 million Turkish liras
Spot market natural gas prices for Saturday, March 26
- 1,000 cubic meters of natural gas on spot market costs 9,678.56 Turkish liras
Nickel-free tech could boost EV uptake due to surging nickel costs
- Shift towards lithium-iron-phosphate (LFP) already happening, analyst Alexandra Gerken says
Turkish solar plant on Galatasaray sports complex roof receives Guinness World Records title
- Solar plant installed on roof of Ali Sami Yen Sports Complex goes down in history as world's "most powerful solar power output from a sports stadium"
Spot market electricity prices for Friday, March 25
- Energy Exchange Istanbul (EXIST) data shows electricity market trade amounts to 624.82 million Turkish liras
Spot market natural gas prices for Wednesday, March 23
- 1,000 cubic meters of natural gas on spot market costs 9,708.64 Turkish liras
Energy cooperation needed in E. Med. to ease dependence on Russian supplies
- In Turkish ministers' visit to Israel, discussions should take place on Turkish companies' involvement in energy field, retired Israeli ambassador says
US crude oil inventories down 0.6% for week ending March 18
- Commercial crude oil stocks decrease by 2.5 million barrels, against market expectation of 25,000-barrel rise
EU urges member states to refill gas storage by next winter
- Regulation seeks to ensure 80-90% of underground storage facilities are full by next winter
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US crude oil inventories up 1.1% for week ending March 11
- Commercial crude oil stocks increase by 4.3 million barrels, against market expectation of 1.9 million barrel fall
Nickel trade suspended on London Metal Exchange due to systems error
- London Metal Exchange reopens nickel trading on Wednesday morning after week-long shutdown
Spot market natural gas prices for Tuesday, March 15
- 1,000 cubic meters of natural gas on spot market costs 9,692.70 Turkish liras
Spot market electricity prices for Thursday, March 17
- Energy Exchange Istanbul (EXIST) data shows electricity market trade amounts to 684.9 million Turkish liras
Turkiye's daily power consumption up 1.6% on March 15
- Electricity exports amount to 7,832 megawatt-hours and imports total 7,262 megawatt-hours
Spot market natural gas prices for Friday, March 11
- 1,000 cubic meters of natural gas on spot market costs 9,690.04 Turkish liras
Turkiye's daily power consumption down 1.2% on March 11
- Electricity exports amount to 12,680 megawatt-hours and imports total 10,191 megawatt-hours
US oil rig count up by 8 for week ending March 11
- Number of US oil rigs rise by 218 compared to one year ago
Turkiye offers best option for East Med gas transit to Europe: former ambassador
- With gas supply concerns from Russia-Ukraine war, long-discussed pipeline option between East Med and Turkiye resurfaces, experts say
Europe's best option for pipeline gas is via Trans Adriatic p/line expansion: expert
- In case of shut down of Russian supplies, it is vital to maintain access to Caspian resources, energy expert says
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Oil prices gain on possibility of OPEC filling Russian supply shortfall
- Prices are supported by Russia-Ukraine talks in Turkiye and decline in US crude and gasoline inventories
US crude oil inventories down 0.5% for week ending March 4
- Commercial crude oil stocks decrease by 1.9 million barrels, against market expectation of 833,000-barrel fall
Spot market electricity prices for Wednesday, March 9
- Energy Exchange Istanbul (EXIST) data shows electricity market trade amounts to 763.6 million Turkish liras
Shell announces withdrawal from Russian oil and gas
- Company will immediately stop buying Russian crude oil on spot market and will not renew term contracts, according to CEO
Spot market electricity prices for Tuesday, March 8
- Energy Exchange Istanbul (EXIST) data shows electricity market trade amounts to 826.65 million Turkish liras
Spot market natural gas prices for Sunday, March 6
- 1,000 cubic meters of natural gas on spot market costs 9,593.87 Turkish liras
Electricity prices in Spain reach record high due to Russia-Ukraine war
- Prices are forecast to further reach €500 per megawatt-hour between 1900 and 2000 GMT on Monday
Spot market electricity prices for Friday, March 4
- Energy Exchange Istanbul (EXIST) data shows electricity market trade amounts to 826.2 million Turkish liras
Spot market natural gas prices for Wednesday, March 2
- 1,000 cubic meters of natural gas on spot market costs 9,530.83 Turkish liras
Russia-Ukraine war pushes oil prices to new highs
- Several Western energy companies withdraw involvement in Russian oil and gas projects since beginning of war
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Spot market electricity prices for Thursday, March 3
- Energy Exchange Istanbul (EXIST) data shows electricity market trade amounts to 766.47 million Turkish liras
Spot market natural gas prices for Tuesday, March 1
- 1,000 cubic meters of natural gas on spot market costs 9,541.22 Turkish liras
Turkiye's daily power consumption up 4.1% on March 1
- Electricity exports amount to 12,025 megawatt-hours and imports total 9,804 megawatt-hours
Brent posts nearly 4% fall in week ending Feb. 18
- Geopolitical tensions in Eastern Europe, good prospects for Iran nuclear talks and soaring US oil stocks put pressure on prices this week
IEA head urges OPEC+ to narrow gap between actual output and targets
- Oil markets are suffering from tight supply, as world’s biggest oil producers fail to meet monthly production quotas
Spot market electricity prices for Sunday, Feb. 13
- Energy Exchange Istanbul (EXIST) data shows electricity market trade amounts to 472.6 million Turkish liras
Spot market natural gas prices for Friday, Feb. 11
- 1,000 cubic meters of natural gas on spot market costs 10,086.40 Turkish liras
Turkiye's daily power consumption down 3.5% on Feb. 11
- Electricity exports amount to 14,330 megawatt-hours and imports total 16,043 megawatt-hours
US oil rig count up by 19 for week ending Feb. 11
- Number of US oil rigs rise by 210 compared to one year ago
Brent posts nearly 1% fall in week ending Feb. 11
- However, price fall is limited due to more-than-expected drop in US stocks and IEA's projections of tight market
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Int. Energy Agency oil demand forecast up 900,000 barrels per day for 2022
- Agency projects strong recovery in transportation demand in second half of this year
US crude oil inventories down 1.1% for week ending Feb. 4
- Commercial crude oil stocks decrease by 4.8 million barrels, against market expectation of 675,000-barrel build
Turkiye's daily power consumption down 10.8% on Feb. 6
- Electricity exports amount to 15,748 megawatt-hours and imports total 17,940 megawatt-hours
Turkiye's daily power consumption down 0.4% on Feb. 3
- Electricity exports amount to 11,289 megawatt-hours and imports total 13,552 megawatt-hours
US crude oil inventories down 0.3% for week ending Jan. 28
- Commercial crude oil stocks decrease by 1 million barrels, against market expectation of 1.8 million-barrel build
Turkiye's first floating offshore wind energy modelling study to help unearth new potential
- Study conducted by Izmir Institute of Technology aims to produce unique design for use in Turkiye's seas in coming years
Oil prices rise almost 1% during in week ending Jan. 28
- Heightened tensions in Eastern Europe continue to fuel supply concerns, especially in EU
Energy crunch: what are EU's options in case of scarce Russian gas?
- Escalation in tension between Russia and Ukraine fuels worries over a new energy crisis in EU
US crude oil inventories up 0.6% for week ending Jan. 21
- Commercial crude oil stocks increase by 2.4 million barrels, against market expectation of 400,000-barrel drop
Turkiye's daily power consumption down 0.8% on Jan. 25
- Electricity exports amount to 8,674 megawatt-hours and imports total 9,126 megawatt-hoursNATURAL GAS MARKET (TL/1000Sm³)
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