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Oil rises as investors see low risk of new COVID-19 variant
- Upward price boosters include Saudi Arabia's decision to raise crude prices to Asian and US customers, and impasse in US-Iran talks
ExxonMobil vows to achieve net zero emissions in Permian Basin
- Company pledges to cut greenhouse gas emissions by electrifying its operations and expanding investments to detect and capture methane gas
UAE seen as candidate to become EU’s hydrogen supplier
-With net zero target by 2050, UAE has also significant potential for solar power
Oil up after S. Arabia imposes oil price hike for Asian, US buyers
- Decision comes after Saudi Arabia and Russia led group of major oil producers on agreement to keep January output unchanged
Oil declines more than 4% in week ending Dec. 3
- Investors eye whether OPEC+ will intervene on lower demand and potential price fluctuations arising from new COVID-19 variant
Oil up as OPEC+ production decision boosts market confidence
- Prices start upward trend following meeting on Thursday of 23-member OPEC+ group
Spot market natural gas prices for Monday, Nov. 29
- 1,000 cubic meters of natural gas on spot market costs 4,649 Turkish liras
Spot market electricity prices for Wednesday, Dec. 1
- Energy Exchange Istanbul (EXIST) data shows electricity market trade amounts to 451.44 million Turkish liras
Turkey's daily power consumption up 12.1% on Nov. 29
- Electricity exports amount to 11,854 megawatt-hours and imports total 9,830 megawatt-hours
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Oil down on demand pressure from new COVID-19 variant
- Investors are awaiting decision from major oil-producing countries on production volume for January
Russia says no rush for any revisions on OPEC+ output plans
- Russian Deputy Prime Minister Alexander Novak's remarks come three days before much-expected meeting of OPEC+ group
Oil edges higher over expectations of less OPEC+ output
- Emergence and spread of new COVID-19 variant Omicron puts pressure on oil prices
Wood awarded contract for Turkey’s largest gas reserve in Black Sea
- Turkey announces total gas discovery of 540 billion cubic meters in Black Sea over course of one year
Oil down ahead of OPEC+ meet and amid US move to sell emergency stocks
- Worsening COVID-19 situation in EU countries and new variant in South Africa exerts downward pressure on prices
Italian energy firm Enel aims to accelerate its net zero goal by 10 years
- Move brings company’s full decarbonization target down to 2040
China to release enough emergency oil reserves to meet its own needs
- It is unclear whether China's confirmed strategic reserve sale is in response to recent US call to maintain adequate supply
Oil up as market sees little impact of coordinated emergency oil sale
- US organizes joint move with China, India, Japan, Republic of Korea and UK to release oil from their strategic reserves
Spot market electricity prices for Wednesday, Nov. 24
- Energy Exchange Istanbul (EXIST) data shows electricity market trade amounts to 487.9 million Turkish liras
Spot market natural gas prices for Monday, Nov. 22
- 1,000 cubic meters of natural gas on spot market costs 4,649 Turkish liras
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Turkey's daily power consumption down 12.3% on Nov. 22
- Electricity exports amount to 12,184 megawatt-hours and imports total 9,403 megawatt-hours
Spot market electricity prices for Tuesday, Nov. 23
- Energy Exchange Istanbul (EXIST) data shows electricity market trade amounts to 477.5 million Turkish liras
23.11.2021
Electricity
Oil down due to supply uncertainties, demand threats
- Rising COVID-19 cases and restrictions put pressure on already falling oil prices
Spot market natural gas prices for Sunday, Nov. 21
- 1,000 cubic meters of natural gas on spot market costs 4,649 Turkish liras
Turkey's daily power consumption down 11.2% on Nov. 21
- Electricity exports amount to 12,832 megawatt-hours and imports total 11,020 megawatt-hours
Oil down over demand fears after fresh COVID-19 restrictions in EU countries
- Some EU countries including Belgium, the Netherlands, Germany and Austria announced renewed restrictions, including full or partial lockdowns
Oil prices climb as traders weigh little impact of oil reserve sales
- Tapping SPR has been on agenda since Biden repeatedly requested a rise in output from OPEC+ producers who refused to relent
TotalEnergies partners with Australian firms to develop natural carbon sinks
- Company’s projects constitute real-world illustrations of its climate ambition, says company official
US emergency oil reserves sale explained
- US plan to release oil from Strategic Petroleum Reserves needs to be larger and will only result in temporary relief, analytics firm says
German renewable firm RWE to invest €50 billion to go greener
- Move will enable company to expand portfolio by 25 gigawatts net to 50 gigawatts in markets of Europe, North America and Asia Pacific
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Oil prices decrease over supply fears
-Soaring energy costs put pressure on US Administration while country accelerates drilling activities, adding 6 more rigs last week
Oil declines more than 2% in week ending Nov. 12
- Rising value of dollar and possible impacts of US release of emergency stocks to pressure high fuel prices
Is Biden planning to lift Iran’s oil export sanctions for more supply on market?
- US mulls lifting sanctions on Iran's oil exports and drawing down oil from reserves as options to counter shortages and high prices
US crude oil inventories up 0.2% for week ending Nov. 5
- Commercial crude oil stocks increase by 1 million barrels, less than market expectation of 1.9 million-barrel rise
Oil down as strong dollar discourages investors
- Build in US commercial crude inventories also weighs on prices
US-Iran talks should not deviate from oil sanctions: Iranian envoy
- Talks between Iran and six other powers to renegotiate about sanctions on Iran's oil exports will resume on Nov. 29
Oil edges higher over estimated decline in US crude stocks
- Market is now monitoring whether US Administration will release oil from its emergency reserves to cool off rising fuel prices
Turkey’s energy minister says new gas find in Black Sea imminent
- Country announces total gas discovery of 540 billion cubic meters in Black Sea over course of one year
Oil flat as investors see low-impact of US threat of releasing stock from reserves
- Analysts say US move to sell oil from strategic reserves may not result in oil price fall that White House expects
Spot market natural gas prices for Sunday, Nov. 7
- 1,000 cubic meters of natural gas on spot market costs 4,588 Turkish liras
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Spot market electricity prices for Tuesday, Nov. 9
- Energy Exchange Istanbul (EXIST) data shows electricity market trade amounts to 449.87 million Turkish liras
Turkey's daily power consumption down 10.5% on Nov. 7
- Electricity exports amount to 16,117 megawatt-hours and imports total 11,204 megawatt-hours
Oil increases as Aramco’s price rise signals bullish demand
- Aramco's decision to raise crude prices for Asian consumers comes one day after OPEC+ agreed to keep December output unchanged
Turkey's daily power consumption down 0.43% on Nov. 4
- Electricity exports amount to 13,871 megawatt-hours and imports total 9,360 megawatt-hours
Oil mixed over OPEC+ decision to keep output rise unchanged
- Now focus is on US reaction as government had warned group that it would use all tools at its disposal if production is not increased
OPEC+ sticks to existing production policy for December
- Next meeting of OPEC and non-OPEC members is scheduled for Dec. 2
US crude oil inventories up 0.8% for week ending Oct. 29
- Commercial crude oil stocks increase by 3.3 million barrels, higher than market expectation of 1.65 million-barrel rise
ExxonMobil to sell half of its stake in Neptun Deep gas project in Black Sea
- Romania's state-owned gas producer Romgaz will take over ExxonMobil's 50% stake while OMV Petrom will act as operator
Oil dives ahead of OPEC+ meeting, and restart of US, Iran nuclear talks
- US commercial crude oil inventories also increase by 3.3 million barrels, putting pressure on slumping prices
Oil down over expected rise in US stocks, OPEC+ uncertainties
- US crude oil inventories are forecast to rise by over 3.6 million barrels, American Petroleum Institute figures show
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Oil prices up as traders await OPEC+ output decision
- Group is expected to adhere to current production scheme of output boost of 400,00 barrels per day
Gazprom's gas exports increase over 10% in first 10 months of 2021
- Company's exports to Turkey increase by 110.4%, according to latest data
Spot market electricity prices for Tuesday, Nov. 2
- Energy Exchange Istanbul (EXIST) data shows electricity market trade amounts to 461.61 million Turkish liras
Spot market natural gas prices for Sunday, Oct. 31
- 1,000 cubic meters of natural gas on spot market costs 3,424 Turkish liras
Turkey's daily power consumption down 7.16% on Oct. 31
- Electricity exports amount to 13,145 megawatt-hours and imports totaled 13,177 megawatt-hours
Oil down as China releases fuel from reserves
- Investors to focus on whether major oil producers will change output policy amid global energy crisis at Thursday’s OPEC+ meeting
Oil declines from multi-year-highs over build in US crude stocks
- US commercial crude oil stocks increase by 4.3 million barrels, higher than market expectation of 1.65 million-barrel rise
Spot market natural gas prices for Tuesday, Oct. 26
- 1,000 cubic meters of natural gas on spot market costs 3,424 Turkish liras
Spot market electricity prices for Thursday, Oct. 28
- Energy Exchange Istanbul (EXIST) data shows electricity market trade amounts to 406.73 million Turkish liras
Turkey's daily power consumption up 2.48% on Oct. 24
- Electricity exports amount to 10,164 megawatt-hours and imports total 9,539 megawatt-hours
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Oil down over expected rise in US crude, gasoline stocks
- US crude oil, gasoline inventories are forecast to rise by over 2.3 million, 500,000 barrels respectively, API figures show
Oil down with investor caution ahead of US stocks data release
-Last week, US crude oil stocks recorded surprise drop, far exceeding market expectations of inventory rise
Oil up amid supply deficit concerns, global energy crunch
- Expectation of warmer winter in US limits demand and further price increases
Brent oil climbs over $85 a barrel over supply deficit concerns
- Rising demand fueled by switching from natural gas to oil deepens ongoing global energy crisis, pushing prices up
Oil up over 1% from rising demand for week ending Oct. 15
- Although US crude oil stocks record surprise build, oil prices continue upward movement amid global energy crisis
Spot market natural gas prices for Thursday, Oct. 14
- 1,000 cubic meters of natural gas on spot market costs 2,982 Turkish liras
Spot market electricity prices for Saturday, Oct. 16
- Energy Exchange Istanbul (EXIST) data shows electricity market trade amounts to 324.9 million Turkish liras
Turkey's daily power consumption down 0.35% on Oct. 14
- Electricity exports amount to 13,382 megawatt-hours, while imports total 9,854 megawatt-hours
Oil up as industries continue favoring cheaper oil for power generation
- Unexpected rise in US crude oil stocks was not enough to cool down upswing in oil prices
IEA 2021/2022 oil demand forecast up from global switch to oil from coal, gas
- Supply crunch is impacting power generation plants, fertilizer producers, manufacturing operations and refineries, says IEA
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Oil prices up as declining US fuel stocks signal rising demand
- Crude demand and prices rise as power generators switch from natural gas to oil
Russian petchem giant SIBUR to boost investments to meet greater Turkish demand
- Turkey has always been important region for SIBUR, says company’s Executive Director for Marketing and Sales
OPEC revises down 2021 global oil demand, keeps it unchanged for 2022
- Crude output rises mainly in Nigeria, Saudi Arabia, but decreases in Venezuela, Libya, says OPEC
Oil prices down as rising commodity prices boost inflation concerns
- Strong dollar which renders dollar-indexed crude oil more expensive for buyers also discourages investors
Qatar changes state-owned energy company’s name to ‘QatarEnergy’
- Move reflects country’s views on energy efficiency, Qatari energy minister says
Oil prices mixed as supply-induced uncertainties continue
- Faster oil demand recovery, supply lagging behind demand, and energy crisis from supply chain disruptions push energy prices up
Gazprom export revenue up 95% between January and August
- Gazprom's natural gas exports via pipelines rises by 11.7% in first eight months of year compared to same period of 2020
WTI crude oil climbs over $80 a barrel first time since 2014
- Amid global energy price crisis, US WTI crude oil hits record high level after US shelves sales from strategic reserve
Oil up more than 5% in week ending Oct. 8 amid ongoing natural gas crisis
- OPEC+ decision to hold supply at current level, natural gas price hikes forcing producers to prefer relatively cheaper oil are among few factors that pushe oil prices up this week
Oil resumes gains over rising demand, shelving of US oil reserve sale
- US has world's largest strategic reserves of approximately 714 million barrels stored in huge underground salt caverns at four sites
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Shift to clean energy may affect Russian economy, its relations with EU
- Oil and natural gas exports constitute almost 40% of Russian budget
Oil declines from multi-year-highs over build of US crude stocks
- Commercial crude oil stocks in US increase by 2.3 million barrels, higher than market expectation of 300,000-barrel rise
World energy demand will increase 50% by 2050: EIA
- Natural gas, coal, batteries will remain critical parts of electric grid while much of new electricity generation will come from renewable energy sources, agency says
Oil prices at record high after OPEC+ maintains previously agreed output levels
- Group decides to pump 400,000 bpd in November, ignoring calls to ramp up the production amid rising demand
OPEC+ reaffirms existing production policy for November
- Next meeting of OPEC and non-OPEC members scheduled for Nov. 4
Spot market electricity prices for Tuesday, Oct. 5
- Energy Exchange Istanbul (EXIST) data shows electricity market trade amounts to 333.2 million Turkish liras
Spot market natural gas prices for Sunday, Oct. 3
- 1,000 cubic meters of natural gas on spot market costs 2,795 Turkish liras
Turkey's daily power consumption down by 10.4% on Oct. 3
- Electricity exports amount to 12,291 megawatt-hours, while imports total 12,632 megawatt-hours
OPEC to seek ways to minimize adverse effects of oil price hikes: expert
-Major oil producing countries are scheduled to hold ministerial meeting later on Monday to decide output November onwards
Gazprom says gas supply to European consumers ramped up
- Gazprom's gas exports climbed by 138.8% Turkey, 33.2% to Germany 14.2% to Italy in first nine months of year, company says
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Oil down amid supply concerns in week ending Oct. 1
- Rising gas supply fears, strong dollar, surprise US crude oil stocks are among few factors that affected oil prices this week
Spot market natural gas prices for Thursday, Sept. 30
- 1,000 cubic meters of natural gas on spot market costs 2,927 Turkish liras
Spot market electricity prices for Saturday, Oct. 2
- Energy Exchange Istanbul (EXIST) data shows electricity market trade amounts to 10.21 million Turkish liras
Gazprom halts gas supply to Hungary via Ukraine
- Move comes two days after Gazprom signed 15-year natural gas supply deal with Hungary
China to secure fuel supplies for winter 'at all costs'
- Move comes as country has been plagued by extensive power outages, forcing companies to shut down operations
Turkey's daily power consumption rises by less than 0.1% on Sept. 30
- Electricity exports amount to 14,245 megawatt-hours, while imports total 8,260 megawatt-hours
Oil down over supply concerns, strong dollar
- Surprise build in US commercial crude inventories also weighes on prices
Iraq says talks underway to reopen Kirkuk-Ceyhan oil pipeline
-970-kilometer-long pipeline was closed in 2014 due to Daesh attacks
Oil prices volatile as US crude stocks rise, energy crisis continue
- US commercial crude inventories rise by 1.1% for week ending Sept. 24, against expected fall of 2.3 million barrels per day