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Oil prices down from multi-year highs during week ending June 18
- Fed’s interest rate trajectory, rising virus cases in UK, and surprise build in US fuel stocks weigh on prices
Oil price dip continues as higher dollar rate discourages traders
- Resurgence of COVID-19 cases in UK also exerts downward pressure on prices
Spot market electricity prices for Friday, June 18
- Energy Exchange Istanbul (EXIST) data shows electricity market trade volume amounts to 208.8 million Turkish liras
Spot market natural gas prices for Wednesday, June 16
- 1,000 cubic meters of natural gas on spot market costs 1,771 Turkish liras
Fitch raises oil forecast to reflect higher prices, demand recovery
- Brent oil price for 2021 is revised up to average $63 a barrel from $58 a barrel
Turkey's daily power consumption up 0.57% on June 16
- Electricity exports amount to 11,528 megawatt-hours, while imports total 6,218 megawatt-hours
Eni merges concessions in Western Egypt
- Deal will unlock considerable resources, strengthening Eni's role as largest gas producer in Egypt
Oil rises on expected fall in US crude stocks, demand recovery signs
- US estimates fall of 8.54 million barrels in crude stocks although market estimate is decrease of 3 million barrels
‘Iran should consider diversifying its economy instead of relying on oil revenues’
-Former US Secretary of Energy says country’s oil export can easily reach up to 3 million barrels a day if US-Iran talks bear fruit
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Oil prices steady from investor demand optimism during driving season
- Potential return of Iran oil and slow vaccination pace limits prices yet normalization in road, air traffic relieves market
Eni announces oil discovery in North Sea
- Preliminary estimates place size of discovery between 35 and 65 million barrels of oil equivalent
Spot market electricity prices for Tuesday, June 15
- Energy Exchange Istanbul (EXIST) data shows electricity market trade volume amounts to 205.4 million Turkish liras
Spot market natural gas prices for Sunday, June 13
- 1,000 cubic meters of natural gas on spot market costs 1,726 Turkish liras
Turkey's daily power consumption down 10.7% on June 13
- Electricity exports amount to 8,340 megawatt-hours, while imports total 12,598 megawatt-hours
Oil sets new record highs as demand recovers from pandemic lows
- Both benchmarks reach pre-pandemic levels with help of optimistic second-half 2021 demand predictions
Oil prices up by nearly 2% for week ending June 11
- Optimistic projections by OPEC and IEA support prices while possible return of Iranian oil puts downward pressure on prices
Spot market electricity prices for Saturday, June 12
- Energy Exchange Istanbul (EXIST) data shows electricity market trade volume amounts to 199.1 million Turkish liras
Spot market natural gas prices for Thursday, June 10
- 1,000 cubic meters of natural gas on spot market costs 1,769 Turkish liras
Global oil demand to rise 6% in 2021: International Energy Agency
- 1st half demand revised up, but estimate for 2nd half adjusted lower due to slow vaccination campaigns in non-OECD economies
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Turkey's daily power consumption up 0.13% on June 10
- Electricity exports amount to 8,128 megawatt-hours, while imports total 6,489 megawatt-hours
Oil giants increase profits to $46 billion in Q121
- BP records highest year-over-year rise in profit
Oil prices volatile on back of confusing demand recovery signals
- Organization of Petroleum Exporting Countries (OPEC) estimates oil demand will surge by 6% during second half of 2021
OPEC forecasts 6% increase in global oil demand in 2021
- Crude output rises mainly in Saudi Arabia, Venezuela and Iran, but decreases in Nigeria and Angola, says OPEC
Oil slips over unexpected build in US fuel stocks
- Low demand concerns linger with US gasoline inventory rise of 7 million barrels last week
US crude oil inventories fall 1.1% for week ending June 4
- Commercial crude oil stocks decline by 5.2 million barrels, higher than market expectation of 2.1 million-barrel draw
ExxonMobil announces discovery offshore Guyana
- New discovery is expected to increase potential of already existing reservoir at Stabroek Block
Green hydrogen to be cost competitive with fossil fuels up to 2033
- Growing focus on net-zero targets favors green hydrogen, says Wood Mackenzie analyst Ben Gallagher
BP, Pavilion Energy ink deal for LNG supply to Singapore
- Companies will cooperate to create greenhouse gas quantification and reporting system along with supplying LNG to Singapore
US energy agency revises up oil price forecast for 2021/22
- International benchmark Brent crude is now estimated to average $65.19 per barrel in 2021
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US energy storage market sets 1st quarter record for deployments
- Nearly 12,000 MWh of new storage will be added in 2021, a three-fold increase from 2020, says Wood Mackenzie
Oil prices down as Chinese data points to falling demand
- Slow pace of vaccination in some US states also fuel demand concerns in these areas ahead of summer driving season
Oil prices down with investor caution over sixth round of US-Iran talks
- Negotiations hope to lift Iranian sanctions, which may bring 3.8 million barrels a day of Iranian oil to market in a year
Oil prices steady for week ending June 4
- Falling US stocks, wider vaccination campaigns, resilience of major oil producers help upward trend in oil prices
Oil up on back of strong demand recovery signs in US, EU, China
-Adding on positive demand sentiments, US crude oil inventories forecast to drop by over 5.36 million barrels, American Petroleum Institute figures show
Oil producers should forego trillion-dollar oil income as energy transition strikes
- 2021 will be last year global oil and gas taxes will approach trillion-dollar mark, says energy consultancy Rystad
Spot market electricity prices for Thursday, June 3
- Energy Exchange Istanbul (EXIST) data shows electricity market trade volume amounts to 188.6 million Turkish liras
Spot market natural gas prices for Tuesday, June 1
- 1,000 cubic meters of natural gas on spot market costs 1,740 Turkish liras
Oil prices up as OPEC+ decision signals resilient market
-Brent oil over $70 a barrel soon after major oil producers’ meeting, with increased hopes for stronger oil demand outlook
Turkey's daily power consumption up 0.99% on June 1
- Electricity exports amount to 10,229 megawatt-hours, while imports total 8,283 megawatt-hours
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OPEC+ reaffirms prior decision to gradually ease output till July
- Next meeting of OPEC and non-OPEC members scheduled for July 1
BP inks deal with US firm to buy solar projects for $220 million
- Once developed, projects will have capacity to generate enough clean energy to power around 1.7 million US homes, BP says
Oil climbs as positive economic data from US, China signals demand recovery
- China’s PMI hits highest level since December while demand for gasoline in US shows highest rise since summer of 2019
Spot market electricity prices for Monday, May 31
- Energy Exchange Istanbul (EXIST) data shows electricity market trade volume amounts to 211.5 million Turkish liras
Spot market natural gas prices for Saturday, May 29
- 1,000 cubic meters of natural gas on spot market costs 1,738 Turkish liras
Turkey's daily power consumption down 5% on May 29
- Electricity exports amount to 12,667 megawatt-hours, while imports total 9,072 megawatt-hours
Shell plans to appeal court ruling questioning its carbon emission goals
-Firm describes Dutch court decision as disappointing, reiterates efforts to become net-zero emissions energy company by 2050
Oil slightly dips but optimistic short-term demand forecasts stunt further falls
- Limiting price falls, US crude stocks drop by 1.7 million barrels, more than market expectation of 1.3 million-barrel fall
Iran imposes 4-month ban on cryptocurrency mining due to major blackouts
- Unlicensed cryptocurrency mining in country is causing high volume of power use, says president Rouhani
Russian Lukoil records nearly $2.1 billion profit
- Company had posted full-year 2020 earnings of $206 billion, down 98% compared to $8.7 billion in 2019
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Oil up with expected fall in US crude stocks
- US estimates fall of 439,000 barrels in crude stocks, but market estimate is decrease of 1.8 million barrels
US natural gas generation declines 7% in 2021
- Natural gas-fired generation sees first year-over-year decline since 2017 from increased competition from renewables: EIA
Shell sells shares in Deer Park refinery to Pemex for $596 million
- Deer Park Refining Limited Partnership was 50-50 joint venture between Shell and Pemex subsidiary P.M.I. Norteamerica
Oil down driven by heightened tension in talks between Iran and US
- Optimism over recovering market limits further price declines
Oil up with possible delay in Iran supplies from halt in Iran-US talks
- Talks between Iran and Western powers on reviving 2015 nuclear deal will resume this week
Oil prices up as major economies recover from scars of pandemic
- Prices find support with onset of businesses reopening in some EU countries and US states
Iran signs $1.78B deal with local firm to develop Farzad gas field
-Farzad was discovered in 2008 by consortium of three Indian companies, ONGC, Oil India Limited and Indian Oil Corporation
Oil prices down as virus resurgence in Asia blurs demand outlook
- Resumption of US major Colonial Pipeline after cyberattack eases supply fears, limiting further price falls
Oil up as US stocks drop, positive OPEC outlook signals demand rebound
- US crude oil inventories forecast to drop by over 2.5 million barrels, American Petroleum Institute figures show
US energy agency revises down its oil price forecast
- International benchmark Brent crude is now estimated to average $62.26 per barrel in 2021
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Spot market natural gas prices for Monday, May 10
- 1,000 cubic meters of natural gas on spot market costs 1,710 Turkish liras
Spot market electricity prices for Wednesday, May 12
- Energy Exchange Istanbul (EXIST) data shows electricity market trade volume amounts to 184.9 million Turkish liras
OPEC says global oil demand will increase 6% in 2021
- Crude output rises mainly in Nigeria, Iran, Saudi Arabia, but decreases in Venezuela: OPEC
Turkey's daily power consumption up 6.6% on May 10
- Electricity exports amount to 3,320 megawatt-hours, while imports total 9,273 megawatt-hours
Oil prices down with cyberattack-induced demand curb in some US refineries
- Georgia-based Colonial Pipeline promptly shut down on Friday after ransomware hackers broke into some of its networks
Spot market natural gas prices for Saturday, May 8
- 1,000 cubic meters of natural gas on spot market costs 1,721 Turkish liras
Spot market electricity prices for Monday, May 10
- Energy Exchange Istanbul (EXIST) data shows electricity market trade volume amounts to 208.2 million Turkish liras
Turkey's daily power consumption down 2.19% on May 8
- Electricity exports amount to 14,595 megawatt-hours, while imports total 9,590 megawatt-hours
Big Oil's proven reserves to run out in less than 15 years
-Slumping discovery rates to threaten financing of big oil companies’ energy transition plans, says energy consultancy Rystad
Oil up as falling US crude stocks signal concrete oil demand recovery
- Terror attack on two oil wells in Iraq’s Kirkuk province supports rise in oil prices
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US crude oil inventories fall for week ending April 30
- Commercial crude oil stocks increase by 8 million barrels, less than market expectation of 2.2 million-barrel fall
Oil prices rally over boosted recovery hopes in US
- Country’s crude oil inventories are expected to decline by 7.7 million barrels, raising hopes of demand return
ConocoPhillips posts $982 million income in 1Q21
- Company had posted fourth-quarter and full year 2020 losses of $0.8 billion and $2.7 billion, respectively
Saudi oil giant Aramco reports 30% profit rise in 1Q21
- Aramco's first quarter 2021 profits hit $21.7 billion compared to $16.6 billion in same period of last year
Oil price down as virus surge in India threatens demand
- Investors remain cautious despite hopes of a sooner recovery in major oil-consuming states from restrictions easing
Oil down as demand falls in major oil importer India
- Adding to downward price pressure, OPEC+ countries began pumping more as of May 1 in line with their decision in April
ExxonMobil reports $2.7 billion profit in 1Q21
- Revenue for same period of year increases by 5.3% to reach $59.1 billion
Oil prices up over 3% for week ending April 30
- Positive oil demand forecasts help bullish oil prices while rising virus cases keeps demand fears fresh
Oil prices down as demand fears counter recovery hopes
- Boosted by positive projections of major oil producers, both benchmarks gained more than 10% in April
Aramco, SABIC to realign petchems & fuel product sales
- Saudi Arabia’s national oil firm Aramco bought 70% stake in chemical manufacturer SABIC for $70 billion in June last year
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US crude oil inventories rise for week ending April 23
- Commercial crude oil stocks increase by 100,000 barrels, less than market expectation of 375,000-barrel rise
ExxonMobil announces discovery offshore Guyana
- New discovery is expected to increase potential of already existing reservoir at Stabroek Block
Oil prices up as OPEC+ sees demand recovery in 2H21
-Price rise comes despite surging virus cases in India, Brazil and estimated build in US crude stocks
Spot market electricity prices for Wednesday, April 28
- Energy Exchange Istanbul (EXIST) data shows electricity market trade volume amounts to 194.35 million Turkish liras
Spot market natural gas prices for Monday, April 26
- 1,000 cubic meters of natural gas on spot market costs 1,719 Turkish liras
Turkey's daily power consumption up 14.1% on April 26
- Electricity exports amount to 9,375 megawatt-hours, while imports total 5,437 megawatt-hours
Oil up over positive economic recovery projections
- Rising coronavirus cases in India topping 300,000 for sixth consecutive day continue to limit upward price movements
Lundin Energy sells first-ever carbon-neutral oil
- From 2025, company aims to reach full carbon-neutral oil production capacity
Oil prices down as virus cases temper demand in India
- Investors to focus on Wednesday's OPEC+ meeting, where oil majors will discuss previous incremental output increases in May
Halliburton posts net income, revenue loss in Q121
- Company posts $170 million net income in first quarter after recording around $1 billion loss in same quarter of last year
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Oil down as US crude stocks rise, COVID cases surge
- US commercial crude inventories rise by 0.1% for week ending April 16, against expected fall of 2.8 million barrels per day
US crude oil inventories rise for week ending April 16
- Commercial crude oil stocks increase by 600,000 barrels, higher than market expectation of 2.8 million-barrel draw
Baker Hughes posts 12% revenue decline in Q121
- 'We remain cautiously optimistic that global economy and oil demand will recover from impact of global pandemic,' says CEO
Upcoming EU carbon regulation may affect Turkey: EU bank
- Carbon Border Adjustment Mechanism to observe carbon footprint of imported goods may effect Turkey’s steel, iron industries
Oil down over likely US crude rise, surge in Covid-19
- US crude oil inventories are forecast to rise by over 436,000 barrels, American Petroleum Institute figures show
Spot market natural gas prices for Monday, April 19
- 1,000 cubic meters of natural gas on spot market costs 1,624 Turkish liras
Spot market electricity prices for Wednesday, April 21
- Energy Exchange Istanbul (EXIST) data shows electricity market trade volume amounts to 179.48 million Turkish liras
Norway’s oil, gas output lags behind predictions
- Total liquids output is expected to exceed 2.3 million bpd by end of 2021, highest in over 10 years: Int. Energy Agency
Turkey's daily power consumption up 13.68% on April 19
- Electricity exports amount to 9,388 megawatt-hours, while imports total 654 megawatt-hours