home
> Övunç Kutlu
US crude oil production breaks new record
- Crude output reaches all-time high of 12.8 million barrels a day
Oil gains as US crude inventory draw less than estimate
- On demand side, pressure on crude could occur with rising dollar after Fed Chair's comments on potential end to rate hikes
EIA keeps oil price forecasts unchanged for 2020
- Brent crude estimated to average $60 a barrel next year
Oil down as Trump threatens China with more tariffs
- "... nobody’s cheated better than China," US President Donald Trump says
Oil recovers as Saudis to cut production for Aramco IPO
- Higher prices would benefit Saudi Aramco's initial public offering by rising investors' demand for company's shares
Saudi Aramco to sell 0.5% in IPO to retail investors
- Oil reserves of company, estimated at 209 billion barrels, comes in as second largest in world after Venezuela
11.11.2019
analysis
Saudi Aramco to sell 0.5% in IPO to retail investors
- Oil reserves of company, estimated at 209 billion barrels, comes in as second largest in world after Venezuela
Saudi Aramco prepares for $2T IPO in Tadawul on Dec. 11
- World's most profitable company targets $2 trillion valuation that is set to surpass Microsoft, Apple, Alphabet
11.11.2019
analysis
Oil down as Trump debunks US, China tariff roll back
- Crude prices down more than 1% as Trump says reports of tariff lift are "incorrect"
home
> Övunç Kutlu
Oil down slightly for week with oversupply, weak demand
- Oil prices fail to gain despite US-China trade optimism
Spot market electricity prices for Saturday, Nov. 9
- Energy Exchange Istanbul (EXIST) data shows electricity market trade volume amounts to 131.86 million Turkish liras
Spot market natural gas prices for Thursday, Nov. 7
- 1,000 cubic meters of natural gas in spot market costs 1,407 Turkish liras on Thursday
Turkey introduces 4 new domestic boron products
- Turkey will produce 8% of world's boron carbide needs after Balikesir facility is completed, energy minister says
Oil retreats from highs with US, China deal uncertainty
- Technology transfer, intellectual property rights prevail as key topics to be hammered out in US-China trade deal
Oil rises as US, China to roll back tariffs for deal
- Approval of phase one of interim trade deal dependent on both countries removing reciprocal tariffs
Oil prices steady as markets await US-China trade deal
- Donald Trump, Xi Jinping meeting to sign phase one trade deal postponed to next month
Crude oil inventories in US swell for w/e Nov. 1
- Commercial crude inventories rise by 7.9 million barrels
Rosneft income up, revenue slightly down in 3rd qtr.
- Net income rises 58%, revenue falls 2.2% from third quarter of last year
Chesapeake net loss shrinks, revenue falls in 3rd qtr.
- Revenue decreases to $2.09 billion in third quarter of 2019, marking a 13.6% decline year-over-year
home
> Övunç Kutlu
Oil prices down with crude inventory build in US
- US crude oil inventories are forecast to rise by 4.26 million barrels for week ending Oct. 31, according to API figures
Turkey's renewable share in electr. at 46% in 10 months
- Local and renewable energy combined show record high share of 64% in electricity production, energy minister says
Oil prices up with US-China trade deal optimism
- World's two largest economies and oil consumers expected to reach some form of a deal by year-end
Associated natural gas adds to US gas output growth
- Rising crude oil production leads to growing share of natural gas output from oil wells
Saudi Aramco prepares for $2T IPO in Tadawul on Dec. 11
- World's most profitable company targets $2 trillion valuation that is set to surpass Microsoft, Apple, Alphabet
Oil prices down with oversupply, weak demand
- US oil output at record level, while US-China trade war remains unresolved
Spot market electricity prices for Sunday, Nov. 3
- Energy Exchange Istanbul (EXIST) data shows electricity market trade volume amounts to 81.7 million Turkish liras
Spot market natural gas prices for Friday, Nov. 1
- 1,000 cubic meters of natural gas in spot market costs 1,425 Turkish liras on Friday
Chevron's revenue, net income decline in third quarter
- Net income falls 36.3%, revenue decreases 17.9% year-over-year
Oil rig count in US falls by five this week
- Number of US oil rigs falls to 691
home
> Övunç Kutlu
Turkey's daily power consumption up 2.17% on Nov. 1
- Turkey's electricity exports amount to 8,371 megawatt-hours, while imports reach 8,635 megawatt-hours on Friday
ExxonMobil net income, revenue down in third quarter
- Net income falls by 49.2%, while US upstream earnings decline 94% year-over-year
Oil prices head for weekly loss with high stock build
- Commercial crude stocks in US rises for sixth time in past seven weeks
Oil steady after losses with US, China trade woes
- Oil prices lose more than 1.8% on Friday from previous trading session
Baker Hughes income quadruples in third quarter
- Net income comes in at $57 million in July-September period, up from $13 million
Hess revenue falls, net loss widens in third quarter
- Company posts net loss of $205 million in third quarter, while revenue is down 17.5% from same period of last year
ConocoPhillips net income rises 63% in third quarter
- Net income was $3.1 billion in July-September period this year, up from $1.9 billion for same period in 2018
OPEC output in Sept. falls to lowest level in 10 years
- Main reason for decline was drone attacks on Saudi Arabia on Sep. 14, which knocked out 5.7 million bpd of country's output
Oil prices recover with US Federal Reserve rate cut
- Crude prices, indexed to US dollar, show gains as cheaper greenback triggers rise in overall oil demand
Crude oil inventories in US increase for w/e Oct. 25
- Commercial crude inventories rise by 5.7 million barrels
home
> Övunç Kutlu
IMF revises down Middle Eastern oil exporters' growth
- Oil exporting countries in region are expected to grow 1.3% in 2019, down 0.9 percentage points
Brent oil price down with weak Chinese data
- Chinese industrial profit falls for second straight month in September
28.10.2019
Oil
US petroleum product exports rise in first half of 2019
- However, growth in petroleum exports marks slowest year-over-year increase for any six-month period in past 13 years
OPEC losing control, share in global oil market
- Controlling 70% of world oil supply in 1970s, OPEC's share in global oil market fell to 29% in September
25.10.2019
analysis
Oil mixed with economic slowdown, OPEC's likely cuts
- Employment in German private sector sees first decline in last six years in October signaling potential economic slowdown
ANALYSIS - OPEC losing control, share in global oil market
- Controlling 70% of world oil supply in 1970s, OPEC's share in global oil market fell to 29% in September
More incentives for China's gas output as imports rise
- To be in effect through 2023, subsidy program will help gas production from tight formations
Oil down as US crude output remains at record high
- World's largest crude oil producer shows output remains at record high level of 12.6 million barrels per day
US crude oil stocks fall contrary to market expectation
- Commercial crude oil stocks decline by 1.7 million barrels, although market expectation was a rise of 2.2 million barrels
ExxonMobil's climate change trial begins in New York
- Energy giant is accused of deceiving investors
home
> Övunç Kutlu
Destinations of US crude oil exports surpass imports
- In Jan-July period, number of source destinations for US' crude imports fell to 27, while exports rose to 31 per month
Oil prices lose gains with rise in US crude stocks
- Prices were up in previous session with reports that OPEC could make deeper output cuts
Spot market electricity prices for Wednesday, Oct. 23
- Energy Exchange Istanbul (EXIST) data shows electricity market trade volume amounts to 111.32 million Turkish liras
Spot market natural gas prices for Monday, Oct. 21
- 1,000 cubic meters of natural gas in spot market costs 1,455 Turkish liras on Monday
Turkey's daily power consumption up 15% on Oct. 21
- Turkey's electricity exports amount to 8,369 megawatt-hours, while imports reach 5,504 megawatt-hours on Monday
Oil price down as China seeks tariffs on US through WTO
- China asks WTO permission to apply $2.4 billion tariffs on US in a case that dates back to 2012
Oil prices down with oversupply worries
- In September, Russia produced more oil than it agreed in OPEC+ agreement
Turkey's daily power consumption down 12% on Oct. 20
- Turkey's electricity exports amount to 9,240 megawatt-hours, while imports reach 6,295 megawatt-hours on Sunday
Schlumberger posts net loss of $11B in 3rd qtr.
- CEO says uncertainty in oil market is weighing on outlook of global oil demand due to trade concerns
Oil posts mixed week amid refinery maintenance season
- Refinery maintenance season keeps crude demand low, causes buildup in inventories and push prices down
home
> Övunç Kutlu
Oil down as China posts lowest growth in three decades
- Chinese economy grows by 6% in third quarter, marks lowest pace since 1992
US crude oil production remains at record high level
- Crude oil output remained around 12.6 million barrels a day for week ending Oct. 11
Valeura's Turkey activities unaffected by Syria operation
- All of Valeura’s people, contractors, assets remain safe and not directly impacted by conflict in northern Syria, company says
Gulf of Mexico crude production to continue records: EIA
- Crude output in region estimated to set new records in 2019 and 2020 by averaging 1.9 million bpd and 2 million bpd
Brent price down with high crude inventory build in US
- Crude oil inventories in US rise by 10.45 million barrels, much higher than market expectation of 2.88 million barrels
Oil demand to fall in early 2020 before recovery: Report
- GDP growth expected to gradually pick up over course of 2020, economic research firm says
Oil demand to fall in early 2020 before recovery: Report
- GDP growth expected to gradually pick up over course of 2020, economic research firm says
17.10.2019
Oil
Turkey aims 20,000 MW wind capacity by 2023: TWEA head
- "Turkey's installed capacity in wind energy has surpassed 7,600 MW with 3,500 turbines today," Hakan Yildirim says
Baku-Tbilisi-Ceyhan pipeline delivers 3.3 bbl of oil
- Highest oil delivery was made in 2010 with 286.2 million barrels
Oil prices driven by demand more than supply: OPEC head
- "Supply is well constrained, both in OPEC and non-OPEC groups," Barkindo says
home
> Övunç Kutlu
Oil prices up as OPEC eyes deeper production cuts
- OPEC, allies committed to maintain 'relative stability' in oil market beyond 2020, secretary general says
Oil down as China seeks talks before phase one signing
- Beijing wants further phase one talks and asks Washington to cancel another tariff hike planned for December
Oil down as US, China phase one deal fails to impress
- Most analysts view first phase of trade deal as temporary truce as it fails to address major points of dispute
Brent oil up 3% over week as OPEC considers deeper cuts
- OPEC+ will take "appropriate, strong, positive" decisions in December meeting, OPEC head says
US, China trade war remains unresolved after 18 months
- World's two largest economies are at 13th round of talks to reach successful trade agreement
Oil prices down as US' crude inventories, production up
- World's top producer saw its crude output climb up to fresh record high of 12.6 million barrels per day
Spot market electricity prices for Thursday, Oct. 10
- Energy Exchange Istanbul (EXIST) data shows electricity market trade volume amounts to 115.98 million Turkish liras
Spot market natural gas prices for Tuesday, Oct. 8
- 1,000 cubic meters of natural gas in spot market cost 1,466 Turkish liras on Tuesday
EIA lowers oil price forecasts for 2020 by $2 a barrel
- Brent is expected to average $60 per barrel next year, down from previous estimate of $62
Turkey's daily power consumption up 4.06% on Oct. 8
- Turkey's electricity exports amount to 6,197 megawatt-hours, while imports reach 2,537 megawatt-hours on Tuesday
home
> Övunç Kutlu
Oil prices down as US, China trade relations worsen
- If talks fail, lower global oil demand could follow pushing crude prices down
Too early for OPEC to debate more output cuts: Sec. Gen
- Cooperation between OPEC and allies will continue in future, Barkindo says
Hydraulic fracturing sees Turkey enter new energy era
- Fracking taps vast oil and gas reserves in shale and tight-rock formations, American Petroleum Institute says
Oil prices rise as OPEC delays cutting output further
- Group chief says it is early to consider cutting oil production further
Turkey starts producing oil with fracking: Erdogan
- Crude oil production by using hydraulic fracturing method, a first for Turkey, takes place in southeastern Diyarbakir
Turkey's daily power consumption down 0.44% on Oct. 4
- Turkey’s electricity exports amount to 8,457 megawatt-hours, while imports reach 3,668 megawatt-hours on Friday
Oil rig count in US falls for seventh consecutive week
- Number of oil rigs in US down 17.5% year-over-year
Turkish drillship Yavuz reaches Guzelyurt-1 location
- Turkey's Energy Minister Fatih Donmez confirms Yavuz drilling vessel has reached Guzelyurt-1 well
Oil heads for 5% weekly loss with weak data, low demand
- Manufacturing PMI in US, China, Germany prompt weak growth, low oil demand for rest of 2019
US crude oil exports jump 200% in first half of 2019
- Exports of crude oil rose year-over-year to 2.9 million barrels per day, from 966,000 barrels a day
home
> Övunç Kutlu
BP chief executive Bob Dudley to retire in early 2020
- Dudley was appointed after Deepwater Horizon oil spill to rebuild BP and re-earn role as leader in energy sector: chairman
Oil recovers after weak US data prompts slowdown
- Non-manufacturing PMI, factory orders drop in US, signaling lower crude demand for remainder of year
US set to open trade war front against EU
- World Trade Organization ruling allows Washington to impose $7.5 billion tariffs on EU
Oil prices down as US prepares for tariffs on Europe
- Washington to impose tariffs on $7.5 billion worth of European goods
Crude oil inventories in US increase for w/e Sept. 27
- Commercial crude inventories rise by 3.1 million barrels
Non-OPEC unplanned oil outages at lowest since 2011
- Unplanned oil supply outage from non-OPEC members falls to 64,000 barrels per day in August
Palladium hits record with decline in gold, silver
- The metal soars to new highs despite contraction in Chinese auto industry
Oil prices up as weak US data drives dollar down
- Manufacturing Purchasing Managers Index in US marks lowest level since June 2009
Energy-related CO2 emissions to rise through 2050: EIA
- China remains single largest emitter of coal-related CO2 emissions in world, US administration says