• Electricity
    • Nuclear
    • Thermal
    • Coal
  • Natural Gas
    • Upstream
    • Shale/Unconventional
    • Downstream
    • Lng/Lpg
  • Oil
    • Upstream
    • Downstream
    • Refining/Petro Chemistry
    • Transportation/Fuel Oil
  • Renewable
    • Wind
    • Solar
    • Hydro
    • Geothermal/Biomass
  • Finance
    • Projects
    • Invesments
    • Stock Market
  • Regulation
    • Oil
    • Electricity
    • Natural Gas
    • Renewable
    • LPG
  • Energy Diplomacy
    • Energy Security
    • International Relations
    • International Organization
    • Energy Projects
  • World
    • Turkey
    • Europe
    • Eurasia
    • Asia
    • Americas
    • Middle East-Africa
  • Reports
  • other
    • News from companies
    • Energy Meetings
    • Video
  • Türkçe
  • English

Anadolu AgencyAnadolu Agency

  • Log Out Log in
  • Anadolu Agency
  • Electricity
    • Nuclear
      Japan decides to release Fukushima wastewater into sea

      Japan decides to release Fukushima wastewater into sea

      Iran's Zarif calls Natanz incident 'nuclear terrorism'

      Iran's Zarif calls Natanz incident 'nuclear terrorism'

      Accident at atomic site 'nuclear terrorism': Iran

      Accident at atomic site 'nuclear terrorism': Iran

      Germany stresses 'real chance' to save Iran nuke deal

      Germany stresses 'real chance' to save Iran nuke deal

    • Thermal
      Spot market electricity prices for Thursday, April 15

      Spot market electricity prices for Thursday, April 15

      Turkey's daily power consumption up 0.72% on April 13

      Turkey's daily power consumption up 0.72% on April 13

      Turkey's electricity consumption up 12.24% in March

      Turkey's electricity consumption up 12.24% in March

      Turkey's daily power consumption up 0.09% on April 1

      Turkey's daily power consumption up 0.09% on April 1

    • Coal
      Spot market electricity prices for Saturday, April 17

      Spot market electricity prices for Saturday, April 17

      Turkey's daily power consumption down 1.09% on April 15

      Turkey's daily power consumption down 1.09% on April 15

      Coal boom in China offset record plant retirement

      Coal boom in China offset record plant retirement

      Finance shifts to low-carbon with fossil stock losses

      Finance shifts to low-carbon with fossil stock losses

  • Natural Gas
    • Upstream
      Eni announces oil discovery in Western Desert of Egypt

      Eni announces oil discovery in Western Desert of Egypt

      US produces, consumes record high natural gas in 2019

      US produces, consumes record high natural gas in 2019

      Nigeria's president launches new gas pipeline project

      Nigeria's president launches new gas pipeline project

      OPEC holds first technical meeting with gas exporters

      OPEC holds first technical meeting with gas exporters

    • Shale/Unconventional
      Spot market natural gas prices for Monday, March 8

      Spot market natural gas prices for Monday, March 8

      Spot market natural gas prices for Sunday Aug. 23

      Spot market natural gas prices for Sunday Aug. 23

      Spot market natural gas prices for Monday, March 2

      Spot market natural gas prices for Monday, March 2

      Spot market natural gas prices for Tuesday, Feb. 11

      Spot market natural gas prices for Tuesday, Feb. 11

    • Downstream
      Spot market natural gas prices for Tuesday, March 16

      Spot market natural gas prices for Tuesday, March 16

      Turkey's gas imports from Iran see sharp fall in 2020

      Turkey's gas imports from Iran see sharp fall in 2020

      3rd Turkish drillship leaves Mersin bound for Black Sea

      3rd Turkish drillship leaves Mersin bound for Black Sea

      Dialogue, de-escalation in E.Med benefit everyone: NATO

      Dialogue, de-escalation in E.Med benefit everyone: NATO

    • Lng/Lpg
      LNG, Russian gas competition to continue in EU: Experts

      LNG, Russian gas competition to continue in EU: Experts

      Nigerian LNG vessel arrives in Turkey on April 12

      Nigerian LNG vessel arrives in Turkey on April 12

      Nigerian LNG vessel to arrive in Turkey on April 12

      Nigerian LNG vessel to arrive in Turkey on April 12

      Qatar Petroleum to solely own Qatargas 1 in 2022

      Qatar Petroleum to solely own Qatargas 1 in 2022

  • Oil
    • Upstream
      Oil prices up by over 2% for week ending April 2

      Oil prices up by over 2% for week ending April 2

      Indonesia's Balongan refinery rocked by massive blast

      Indonesia's Balongan refinery rocked by massive blast

      ExxonMobil makes first discovery offshore Suriname

      ExxonMobil makes first discovery offshore Suriname

      Rosneft income falls 77%, revenue down 51% in 2Q20

      Rosneft income falls 77%, revenue down 51% in 2Q20

    • Downstream
      US oil rig count rises by 2 for week ending Jan. 22

      US oil rig count rises by 2 for week ending Jan. 22

      ExxonMobil makes first discovery offshore Suriname

      ExxonMobil makes first discovery offshore Suriname

      US oil rig count rises by four for week ending Oct. 9

      US oil rig count rises by four for week ending Oct. 9

      Lundin upgrades Edvard Grieg field reserve estimates

      Lundin upgrades Edvard Grieg field reserve estimates

    • Refining/Petro Chemistry
      Oil prices up by over 2% for week ending April 2

      Oil prices up by over 2% for week ending April 2

      Oil prices up over OPEC+’s cautious output ease

      Oil prices up over OPEC+’s cautious output ease

      EU halts sanctions for more Turkish oil firm officials

      EU halts sanctions for more Turkish oil firm officials

      Brent oil price down 0.56% for week ending Feb. 19

      Brent oil price down 0.56% for week ending Feb. 19

    • Transportation/Fuel Oil
      Suez Canal traffic jam cleared, says Egypt

      Suez Canal traffic jam cleared, says Egypt

      Oil prices up by over 2% for week ending April 2

      Oil prices up by over 2% for week ending April 2

      Oil majors accelerate energy transition policies: Fitch

      Oil majors accelerate energy transition policies: Fitch

      Venezuela condemns US policy of seizing fuel shipments

      Venezuela condemns US policy of seizing fuel shipments

  • Renewable
    • Wind
      Turkey ranks as 5th biggest wind investor in Europe

      Turkey ranks as 5th biggest wind investor in Europe

      Global oil demand to increase 6% in 2021: OPEC

      Global oil demand to increase 6% in 2021: OPEC

      Europe invests record €42.8 bln in wind energy in 2020

      Europe invests record €42.8 bln in wind energy in 2020

      Nordex Group wins turbine order for Istanbul wind farm

      Nordex Group wins turbine order for Istanbul wind farm

    • Solar
      Oil-rich Saudi Arabia branches into solar power

      Oil-rich Saudi Arabia branches into solar power

      Turkey's Gumbel Group to invest $15M in solar technology

      Turkey's Gumbel Group to invest $15M in solar technology

      Wind and solar drive record drop in coal in 2020

      Wind and solar drive record drop in coal in 2020

      Turkey’s solar power generation soars 50%: Energy min.

      Turkey’s solar power generation soars 50%: Energy min.

    • Hydro
      BP plans UK’s largest hydrogen project

      BP plans UK’s largest hydrogen project

      Hydro provides most of Norway's power in February

      Hydro provides most of Norway's power in February

      China plans world’s biggest dam build on Tibetan river

      China plans world’s biggest dam build on Tibetan river

      IRENA boosts sustainable hydropower through partnership

      IRENA boosts sustainable hydropower through partnership

    • Geothermal/Biomass
      Europe needs to build more wind farms for climate goals

      Europe needs to build more wind farms for climate goals

      Turkey in top 4 countries with geothermal capacity

      Turkey in top 4 countries with geothermal capacity

      Biomass can meet one-third of Turkey's annual power

      Biomass can meet one-third of Turkey's annual power

      EU approves €550M Danish aid to support biomass plants

      EU approves €550M Danish aid to support biomass plants

  • Finance
    • Projects
      Turkey unveils Economic Reform Action Plan

      Turkey unveils Economic Reform Action Plan

      BP plans UK’s largest hydrogen project

      BP plans UK’s largest hydrogen project

      US warns entities to abandon Nord Stream 2 gas pipeline

      US warns entities to abandon Nord Stream 2 gas pipeline

      Turkey announces landmark new economic reform package

      Turkey announces landmark new economic reform package

    • Invesments
      Turkey to boost green bonds for more clean investment

      Turkey to boost green bonds for more clean investment

      Turkey: public sector vital for getting energy invests.

      Turkey: public sector vital for getting energy invests.

      Turkey announces landmark new economic reform package

      Turkey announces landmark new economic reform package

      Over $1T invested in coal despite trendy climate goals

      Over $1T invested in coal despite trendy climate goals

    • Stock Market
      Turkey's electricity consumption up 12.24% in March

      Turkey's electricity consumption up 12.24% in March

      Oil prices up over OPEC+’s cautious output ease

      Oil prices up over OPEC+’s cautious output ease

      Turkey's daily power consumption up 0.35% on March 18

      Turkey's daily power consumption up 0.35% on March 18

      Oil majors accelerate energy transition policies: Fitch

      Oil majors accelerate energy transition policies: Fitch

  • Regulation
    • Oil
      Oil up on US inventory fall, UK vaccine approval

      Oil up on US inventory fall, UK vaccine approval

      Fitch reduces oil price forecast due to higher supply

      Fitch reduces oil price forecast due to higher supply

      S. Arabia, Iraq discuss efforts to stabilize oil market

      S. Arabia, Iraq discuss efforts to stabilize oil market

      US crude oil inventories fall for week ending Aug. 14

      US crude oil inventories fall for week ending Aug. 14

    • Electricity
      Spot market electricity prices for Friday, Dec. 4

      Spot market electricity prices for Friday, Dec. 4

      24/7 power with Turkey’s new mobile monitoring system

      24/7 power with Turkey’s new mobile monitoring system

      Turkey's daily power consumption up 3.28% on Sept. 8

      Turkey's daily power consumption up 3.28% on Sept. 8

      Sudan: Flashpoint Ethiopian dam not related to floods

      Sudan: Flashpoint Ethiopian dam not related to floods

    • Natural Gas
      Turkey's daily power consumption down 0.77% on Oct. 23

      Turkey's daily power consumption down 0.77% on Oct. 23

      Russian Lukoil starts Chashkino gas-turbine power plant

      Russian Lukoil starts Chashkino gas-turbine power plant

      Gazprom posts 26% loss in 1H20

      Gazprom posts 26% loss in 1H20

      Trump scraps Obama methane limits in oil, gas sectors

      Trump scraps Obama methane limits in oil, gas sectors

    • Renewable
      US Dept of Energy pledges $162M to decarbonize vehicles

      US Dept of Energy pledges $162M to decarbonize vehicles

      Action to achieve Paris climate to upend oil, gas prices

      Action to achieve Paris climate to upend oil, gas prices

      Global oil demand to increase 6% in 2021: OPEC

      Global oil demand to increase 6% in 2021: OPEC

      Oil-rich Saudi Arabia branches into solar power

      Oil-rich Saudi Arabia branches into solar power

    • LPG
      Turkey's LPG imports down 21.07% in January

      Turkey's LPG imports down 21.07% in January

      Pandemic reveals importance and reliability of LPG

      Pandemic reveals importance and reliability of LPG

      Turkish fund Oyak to buy Demiroren's auto fuel ops.

      Turkish fund Oyak to buy Demiroren's auto fuel ops.

      Turkey's LPG imports down over 19.02% in June 2019

      Turkey's LPG imports down over 19.02% in June 2019

  • Energy Diplomacy
    • Energy Security
      Turkey-Egypt alliance in E. Med could open new doors

      Turkey-Egypt alliance in E. Med could open new doors

      Iran backs Assad regime by shipping 3M barrels of oil

      Iran backs Assad regime by shipping 3M barrels of oil

      Accident at atomic site 'nuclear terrorism': Iran

      Accident at atomic site 'nuclear terrorism': Iran

      South Sudan’s economy hit by drop in oil prices, floods

      South Sudan’s economy hit by drop in oil prices, floods

    • International Relations
      Ukraine wants to double trade volume with Turkey

      Ukraine wants to double trade volume with Turkey

      Turkey-Egypt alliance in E. Med could open new doors

      Turkey-Egypt alliance in E. Med could open new doors

      Uganda, Tanzania sign oil pipeline project agreement

      Uganda, Tanzania sign oil pipeline project agreement

      Iraqi PM makes first official visit to Saudi Arabia

      Iraqi PM makes first official visit to Saudi Arabia

    • International Organization
      Global oil demand to surge 6% in 2021: IEA

      Global oil demand to surge 6% in 2021: IEA

      2-month OPEC+ cuts rollover ‘best decision’: experts

      2-month OPEC+ cuts rollover ‘best decision’: experts

      Qatar Petroleum to solely own Qatargas 1 in 2022

      Qatar Petroleum to solely own Qatargas 1 in 2022

      Oil giants to convene for JMMC ahead of OPEC+ meeting

      Oil giants to convene for JMMC ahead of OPEC+ meeting

    • Energy Projects
      Oil prices up over OPEC+’s cautious output ease

      Oil prices up over OPEC+’s cautious output ease

      Siemens Energy signs long-term service deal with Aramco

      Siemens Energy signs long-term service deal with Aramco

      Qatar Petroleum to solely own Qatargas 1 in 2022

      Qatar Petroleum to solely own Qatargas 1 in 2022

      Iraq awards drilling of 96 oil wells to Schlumberger

      Iraq awards drilling of 96 oil wells to Schlumberger

  • World
    • Turkey
      Spot market electricity prices for Monday, April 19

      Spot market electricity prices for Monday, April 19

      Spot market natural gas prices for Saturday, April 17

      Spot market natural gas prices for Saturday, April 17

      Turkey's daily power consumption down 4.95% on April 17

      Turkey's daily power consumption down 4.95% on April 17

      Spot market electricity prices for Sunday, April 18

      Spot market electricity prices for Sunday, April 18

    • Europe
      Oil prices up by over 7% for week ending April 16

      Oil prices up by over 7% for week ending April 16

      Oil up over strong economic recovery signs in US, China

      Oil up over strong economic recovery signs in US, China

      LNG, Russian gas competition to continue in EU: Experts

      LNG, Russian gas competition to continue in EU: Experts

      Oil up over large fall in US stocks, positive forecasts

      Oil up over large fall in US stocks, positive forecasts

    • Eurasia
      Oil prices up by over 7% for week ending April 16

      Oil prices up by over 7% for week ending April 16

      Oil up over strong economic recovery signs in US, China

      Oil up over strong economic recovery signs in US, China

      LNG, Russian gas competition to continue in EU: Experts

      LNG, Russian gas competition to continue in EU: Experts

      Oil up over large fall in US stocks, positive forecasts

      Oil up over large fall in US stocks, positive forecasts

    • Asia
      Oil prices up by over 7% for week ending April 16

      Oil prices up by over 7% for week ending April 16

      Oil up over strong economic recovery signs in US, China

      Oil up over strong economic recovery signs in US, China

      Oil up over large fall in US stocks, positive forecasts

      Oil up over large fall in US stocks, positive forecasts

      Oil prices up on estimated fall in US crude stocks

      Oil prices up on estimated fall in US crude stocks

    • Americas
      US oil rig count rises by 7 for week ending April 16

      US oil rig count rises by 7 for week ending April 16

      Oil prices up by over 7% for week ending April 16

      Oil prices up by over 7% for week ending April 16

      US Dept of Energy pledges $162M to decarbonize vehicles

      US Dept of Energy pledges $162M to decarbonize vehicles

      Oil up over strong economic recovery signs in US, China

      Oil up over strong economic recovery signs in US, China

    • Middle East-Africa
      Oil prices up by over 7% for week ending April 16

      Oil prices up by over 7% for week ending April 16

      Turkey-Egypt alliance in E. Med could open new doors

      Turkey-Egypt alliance in E. Med could open new doors

      Oil up over strong economic recovery signs in US, China

      Oil up over strong economic recovery signs in US, China

      Oil up over large fall in US stocks, positive forecasts

      Oil up over large fall in US stocks, positive forecasts

  • Reports
  • other
    • News from companies
    • Energy Meetings
    • Video
  • Anadolu Agency

Turkey unveils new economic program for 2021-2023

- Country's new economic program based on themes of new stabilization, new normal, and new economy

home > Invesments, Stock Market 30.09.2020 09:19

Turkey unveils new economic program for 2021-2023

Turkey on Tuesday announced its new economic program for 2021-2023 based on themes of new stabilization, new normal, and the new economy, aiming to build a sustainable growth model.

Speaking at the launching ceremony of the program in Istanbul, Treasury and Finance Minister Berat Albayrak said the government considers the main themes as a separate challenge.

Stating the new stabilization means eliminating the negative effects of the pandemic on macroeconomic balance and financial stability, restoring internal and external balance, reducing inflation to a single digit permanently and closing the current account deficit.

Albayrak also noted during the stabilization period, the financial measures that were put into effect due to the pandemic will be phased out gradually.

Steps to eliminate the economic fallout due to coronavirus will continue in the coming days and weeks, contributing to both financial stability and macroeconomic goals, he emphasized.

- New normal

Noting that the ways of doing business, behaviors and preferences in the economy are reshaping, Albayrak said:

"In order to make our economy adapt to this process, accelerating digital transformation, extending e-services to all areas of life, producing new financial solutions and creating new working models are obligatory."

He also said the government will implement competitive, technology- and efficiency-oriented strategic reforms to reduce vulnerabilities in inflation and current account balance.

"In this context, we will implement an innovative, high value-added, export-oriented, people-oriented and inclusive development model," he stressed.

- Program's targets

Explaining the details of program Albayrak said the Turkish economy is projected to grow 0.3% this year.

The economic growth is expected to hover around 5% in 2022 and 2023, and to reach 5.8% in 2021 after deferred consumption and investments put into use and tourism revenues normalize.

"To reach our growth targets, we will focus on exports, value-added production, and employment as we've always done," Albayrak said.

The unemployment rate is projected to reach 13.8% this year and 12.9% next year, according to the program.

Albayrak said the unemployment rate will gradually drop to 10.9% by 2023.

The government will implement policies for economic recovery during the post-pandemic period to support the labor market, he said.

Pointing to the importance of reducing inflation permanently to single digits for setting price stability, Albayrak said the program targeted a 10.5% inflation rate for this year.

"Inflation rate is forecast to stand at 8% by the end of 2021, and drop to 4.9% by the end of the program," the finance minister stressed.

Stressing that the country started the year with a current account surplus, Albayrak said.

“But we will close the year with a current account deficit due to the unexpected contraction in tourism revenues and the rapidly increasing net gold imports in line with global gold demand."

Albayrak noted that coronavirus reduced tourism revenues by $25 billion and spurred the net gold imports by $12 billion.

"Excluding these temporary effects, we calculate that we have a current surplus of $12.4 billion in 2020, that is 1.7% of our national income," he said.

According to him, Turkey, despite pandemic, still has a strong balance sheet compared to other countries across world.

"We also expects budget deficit ratio to GDP to decline gradually throughout 2021-2023 to reach 3.5% by end of program period," he said.

- Possible risks to growth

Underlining that the government does not ignore possible risks to growth, Albayrak said: "We are maintaining our cautious stance."

In this context, he added, when a pessimist scenario is considered in which the pandemic-related restrictions are put in place again, “we assess that our economy can contract by 1.5% in the whole of 2020, and that it can grow by 3.7% in 2021, remaining 2.1 points below the Program's forecast.”

Commenting on the data, Erhan Aslanoglu, an economy professor at Istanbul-based Piri Reis University, said the program also includes negative scenarios, a positive aspect in terms of showing the government's awareness of the uncertain environment in the global economy.

Emphasizing on development rather than growth in the program is a positive thing, he said.

Yet, he added, what is the pathway for supporting the value-added production remains still unclear and that the program contains optimistic inflation targets “given the current conditions of the economy.”

By Aysu Bicer and Tuba Sahin

Anadolu Agency

energy@aa.com.tr


related news

Spot market electricity prices for Monday, April 19
Spot market natural gas prices for Saturday, April 17
Turkey's daily power consumption down 4.95% on April 17
Spot market electricity prices for Sunday, April 18
Turkey's daily power consumption down 0.43% on April 16
Ukraine wants to double trade volume with Turkey
Facebook Facebook Twitter Google LinkedIn

Turkey to boost green bonds for more clean investment

- Legal framework is needed to increase volume of green bond issues which has high potential in Turkey, official says
20.03.2021 Renewable , Invesments

Turkey: public sector vital for getting energy invests.

- Energy transition is not only for fuels, but for institutions, markets and consumers: says Turkey's Energy Minister
18.03.2021 Renewable , Invesments , Turkey , General

Turkey announces landmark new economic reform package

- Reforms aim to boost investment, production, jobs, and exports, says President Recep Tayyip Erdogan
16.03.2021 Projects , Invesments , Renewable , Energy Projects , Turkey , General

Over $1T invested in coal despite trendy climate goals

- Financial institutions’ net-zero commitments are meaningless without immediate, far-reaching coal exit policies: new study
27.02.2021 Coal , Invesments

Aygaz enters LPG business in Bangladesh via new partner

- Thanks to partnership agreement with United Enterprises, Aygaz will be entering Asian markets, CEO says
21.01.2021 Lng/Lpg , Invesments , Turkey , Asia

Turkey allocates $18.5B for 2021 investments

- Transport and communications projects to take lion's share with $5.7B, followed by education with $2.66B
17.01.2021 Invesments , General

Venezuela open to foreign investment in oil sector

- In a bid to boost domestic output, government is welcoming foreign investment in sector, which has not occurred since 1990s
15.01.2021 Oil , Invesments , Americas , General

Turkey's gold production set to break records in 2021

- Despite pandemic, production target is achieved by prioritizing work safety and environmental responsibility
09.01.2021 Invesments , Energy Security , Turkey

Emerging markets attract $313B in 2020: IIF

- Portfolio flows stand at $45.9B in December, closing one of most volatile years, says Institute of International Finance
08.01.2021 Invesments

Turkey's Sabanci to invest $450M in wind over 4 years

- "We put sustainability and new technologies at center of investments and growth plans," high official at conglomerate says
16.12.2020 Renewable , Invesments , Turkey

Support mechanism key to Turkey’s renewables growth

- Renewable energy capacity additions this year to date set record high with over 4,200 megawatts
12.12.2020 Renewable , Invesments

Turkey to improve investment climate via structural reforms

- Turkish economy to expand by 0.3% in 2020, says country's treasury and finance minister
18.11.2020 Finance , Invesments , Turkey

European bank to deploy supply-chain finance in Turkey

- Supply-chain finance can provide lower financing cost, improve business efficiency, says EBRD director in Turkey
18.11.2020 Finance , Invesments , Turkey , Europe

Turkey to offer new opportunities to foreign investors

- Government to take confidence building measures, steps to stabilize markets
12.11.2020 Invesments , Turkey

Turkish energy savings equal to 18m households possible

- $54B investment needed for energy efficiency, electrification and energy distribution in next 10 years, says SHURA
14.10.2020 Electricity , Invesments , Turkey

Turkey: Investment demand rises despite pandemic

- Investment demand in 8 months of 2020 up by 30% compared to last year, says Turkish industry minister
03.10.2020 Invesments , Turkey

Turkey breaks ground on 1st lithium-ion battery plant

- Facility to contribute to Turkey's efforts for domestically-produced batteries to meet military needs
04.10.2020 Electricity , Invesments , Turkey

Libya aims to revive economic relations with Turkey

- Delegation from Libya to focus on restoring Turkish firms' confidence to resume activities, says head of business body
02.10.2020 Finance , Invesments , Turkey , Middle East-Africa

Turkey unveils new economic program for 2021-2023

- Country's new economic program based on themes of new stabilization, new normal, and new economy
30.09.2020 Invesments , Stock Market

Turkey's gas find could save up to $21B in import costs

- Actual savings could even be more as global gas prices and import costs are expected to rise in coming years: Rystad Energy
11.09.2020 Natural Gas , Finance , Invesments , Turkey

Turkey's 1st solar cell integrated plant starts ops.

- Factory will help eliminate nearly $100 million of solar panel imports per year, energy minister Donmez says
20.08.2020 Solar , Invesments , Turkey

Offshore wind sector to create nearly 1M jobs in 5 years

- Total of 17.3 direct jobs are created per megawatts of generation over 25-year lifetime of an offshore project, GWEC says
17.08.2020 Wind , Projects , Invesments , Americas

Rosneft income falls 77%, revenue down 51% in 2Q20

- Company has net loss of 113 billion rubles ($1.55 billion) in first six month of 2020
15.08.2020 Upstream , Invesments , Eurasia

Iran moves from oil to petrochemicals in export

- Country launches 3 major petrochemical projects worth $1.6B to boost non-oil revenue
10.08.2020 Refining/Petro Chemistry , Invesments , Middle East-Africa

BP posts $16.8 billion loss in second quarter of 2020

- Firm's total loss widens to $21.2 billion for first half of year
05.08.2020 Upstream , Invesments , Energy Security , Europe

Turkish Central Bank posts $86.3B in June reserves

- Foreign currency reserves amount to $45.8B, gold reserves $39.1B, official data show
29.07.2020 Invesments , Turkey

Turkey: Investment demand rises in H1 despite pandemic

- Turkish industry minister says country sees record high number of incentive certificate in June
29.07.2020 Invesments , Turkey

Baker Hughes net loss widens, revenue down in 2nd qtr.

- Risks of second wave of virus and high unemployment forge uncertain economic environment through 2020, CEO says
23.07.2020 Upstream , Invesments , Americas

Petrobras oil production down due to reduced demand

- Company says it is facing sharp oil price drop, demand decline and market supply surplus
23.07.2020 Upstream , Invesments , Energy Security , Americas

Halliburton posts net loss, revenue decline in 2nd qtr.

- Revenue down 46% with net losses of $1.68 billion in second quarter of 2020
21.07.2020 Oil , Invesments , Americas

US share of Turkish LNG imports rises with cheap prices

- Turkey can use cheap US LNG to diversify sources, enhance negotiations and export to southern Europe, investor says
19.07.2020 Lng/Lpg , Invesments , International Relations , Turkey , Americas

G20 commits $151B to fossil fuels in COVID-19 packages

- COVID-19 recovery packages aid fossil fuels over clean energy despite leaders' ambitious clean energy transition rhetoric
16.07.2020 Coal , Invesments

Shell: Low oil prices to lower asset value up to $22B

- Energy company points to impacts of COVID-19 and challenging commodity price environment
01.07.2020 Upstream , Invesments , Energy Security , Europe , Americas

China leads green bond issuance with $55.8B in 2019

- China's green bond issuance up by 33% in 2019 from $42 billion in 2018, new report says
30.06.2020 Invesments

Fossil fuel profits could drop by $25T as demand falls

- Competition from clean technologies and tougher climate policies reduce value of fossil reserves, report finds
06.06.2020 Invesments

COVID-19 to cause biggest global energy investment fall

- Global energy investments are expected to total $1.5 trillion this year marking a year-on-year drop of 20%, IEA report says
27.05.2020 Invesments

Turkey: External assets hit $233.8B in March

- Country's net international investment position improves to minus $314.7B in March
22.05.2020 Invesments , Turkey

EBRD makes $55M loan to Turkey's Garanti BBVA

- Financing complemented by $50M loan from International Finance Corporation, says EBRD
21.05.2020 Invesments , Stock Market

Brent oil stabilizes above $30 despite pandemic woes

- Between Monday and Friday, Brent oil prices fluctuate between the lowest at $28.86 to peak of $32.49
16.05.2020 Oil , Invesments , Energy Diplomacy

Turkey is 7th in Europe's foreign renewable investments

- New legislative measures, accommodating incentives and tender structure positively affect sector: IZKA Secretary General
14.05.2020 Renewable , Invesments , Turkey

Petrofac secures BP maintenance, metering contracts

- Petrofac strikes new deals with BP on digitalization
13.05.2020 Invesments , Europe , General

Turkey's Aksa to build 240 MW gas plant in Uzbekistan

- When completed the combined natural gas cycle power plant is expected to produce 2 billion kWh of electricity annually
13.05.2020 Natural Gas , Finance , Invesments , Turkey , Asia

Saudi Aramco's net income declines 25% in first quarter

- Revenue down 16% year-over-year
12.05.2020 Upstream , Invesments , Middle East-Africa

Coronavirus hits US oil sector hard as billions lost

- US crude output already down 1.2 million bpd, while many oil majors announce billions of dollars in net loss for 1st quarter
09.05.2020 Upstream , Invesments , Energy Security , Americas

'Turkish banks well-prepared to face COVID-19'

- Banks appear to be financially, technically well-equipped to handle coronavirus crisis, says audit and consultancy firm
07.05.2020 Invesments , Turkey

Global renewables use 1.5% higher than last year: IEA

- Share of renewables in global electricity generation jumped to nearly 28% in Q1 2020 from 26% in Q1 2019, IEA says
06.05.2020 Electricity , Finance , Invesments , Renewable , Energy Security

ExxonMobil lowers capital spending by $10B amid virus

- Revenue came in at $56.16 billion for first quarter -- down 11.7% from $63.62 billion for same period last year
04.05.2020 Upstream , Invesments , Americas

Shell posts 28% revenue fall and net loss in 1Q20

- CEO points to 'extremely challenging conditions' as company starts to reduce spending
02.05.2020 Invesments , Europe

Energy sector could be vital for EU's economic recovery

- Energy ministers from 27 EU countries hold first talks after Covid-19 outbreak
30.04.2020 Renewable , Finance , Invesments , Energy Diplomacy , Europe

UK oil, gas sector may lose 30,000 jobs: Report

- Companies' capital expenditure could fall to between £3.5-4 billion -- lowest investment since 2000
29.04.2020 Downstream , Upstream , Invesments , Europe

‘Paraguay set for quick economic recovery after virus’

- Head of Ibero-American General Secretariat expects country to grow over 3% in 2021
24.04.2020 Invesments , Stock Market

Japan's Enechange, Looop invest in Turkish solar plant

- The investment is for 10-year operation of solar power plant in western Turkey
22.04.2020 Renewable , Solar , Invesments , Turkey , Asia

EU cooperates with Turkey against coronavirus

- Trade activities should continue regardless COVID-19 outbreak, says head of EU delegation to Turkey
11.04.2020 Invesments , Energy Diplomacy , Turkey , Europe

European assoc. demand adding Green Deal in recovery plans

- European energy industry associations warn pandemic measures bring Europe’s economy "near-to-complete standstill"
02.04.2020 Invesments , Europe

Moody's changes Shell's outlook to negative

- Negative outlook reflects impact of collapsing oil prices on Shell's financial profile in 2020, rating agency says
02.04.2020 Upstream , Invesments , International Organization , Europe

MENA oil exporters to see $192B income fall in 2020: IIF

- Quarantines, disruption in supply chains, travel restrictions, business closings point to recession in MENA region
30.03.2020 Downstream , Invesments , International Organization , Middle East-Africa

Saudi Aramco income higher than 12 oil giants in 2019

- Saudi Arabia's national oil company had net income of $88.2B, while 12 oil majors' combined earnings were $63.9B
31.03.2020 Upstream , Invesments , Middle East-Africa

Oil up with G20's $5 trillion pledge, weak US dollar

- G20 undertaking 'immediate and vigorous measures' to support economies, sectors most affected by virus
27.03.2020 Downstream , Invesments , International Organization , Americas

Coronavirus, crude oil crises to strain ratings: Fitch

-Effects of oil shock, coronavirus will outlive, hitting especially travel, tourism sectors, says agency
25.03.2020 Projects , Invesments , Stock Market

Covid-19 and oil shock to hurt ratings: Moody's

- Disruption of economic activity to last through June, but some recovery expected in second half of 2020, agency says
25.03.2020 Downstream , Invesments , Americas

Banks funnel $2.7T to fossils, snubbing climate crisis

- Four U.S.-based international banks account for 30% of total financing of fossil fuels, report reveals
19.03.2020 Oil , Invesments

Saudi Aramco posts $88.2 billion net income in 2019

- Net income down 20.6% year-over-year, while Brent price falls 9.6% during that period
17.03.2020 Upstream , Invesments , Middle East-Africa

Turkey has many incentives to scale up battery storage

- Renewables and electric vehicle expansion are main drivers for establishment of Turkey's storage market, DNV GL expert says
17.03.2020 Electricity , Projects , Invesments , Turkey

Turkey to start local solar cell production on June 15

- Turkey's first solar cell integrated factory set to produce components for 1 GW solar plant in its first three years
14.03.2020 Renewable , Solar , Invesments , Turkey

Coronavirus, oil shock to strain MENA region: Fitch

- Rating agency estimates oil price drop of $10 a barrel will affect government revenues by 2% to 4%
11.03.2020 Downstream , Invesments , Middle East-Africa

Low oil prices increase financial risks: Moody’s

- International credit rating agency says it expects oil, gas companies to actively manage their liquidity in 2020
11.03.2020 Downstream , Invesments , Americas

Norway's sovereign fund invests over $800M in Turkey

- As at the end of December 2019, fund has over $800B in investments in 53 different Turkish firms, including six in energy
05.03.2020 Natural Gas , Invesments , Turkey , Europe , General

Norway wealth fund earns record $180 billion in 2019

- Norway’s fund makes 19.9% return on investment last year, earning highest annual return in kroner in fund's history
28.02.2020 Invesments , Stock Market , Europe , General

Turkey's 3rd drillship from UK expected on March 17

- According to Turkey's Energy and Natural Resources Minister Fatih Donmez on Feb. 26, vessel is en route to Turkey
28.02.2020 Natural Gas , Invesments , Turkey , General

Microsoft invests $1.1B in Mexico

- Funds will go toward creating new data center, education, AI projects
21.02.2020 Invesments , Americas , General

Rosneft income increases 50% in fourth quarter of 2019

- Revenue rises 6.3% from final quarter of 2018
20.02.2020 Upstream , Upstream , Invesments , Eurasia

Solar is key in cutting Turkish gas imports: GENSED head

- 1,000 megawatts of installed capacity in solar energy will prevent $110 million of Turkey's imported gas: Solar Energy Head
21.02.2020 Solar , Invesments , Energy Projects , Turkey

EU invests over €100 million in climate neutrality

- The fund will be used in 10 large-scale environmental and climate projects in nine EU member states
18.02.2020 Invesments , Europe

Many countries eye dealership of Turkish-made car

- Offers mostly come from Gulf countries, Central Asian countries and Germany, says Turkish industry and technology minister
14.02.2020 Invesments , Turkey

Coronavirus to delay global recovery, cause oil surplus

- World GDP may contract by 1% in 1Q20, which would be first quarter-to-quarter contraction since 1Q09
14.02.2020 Downstream , Invesments , Energy Security , Asia

Trump proposes $188 million for offshore energy budget

- $26.5 million assigned to advance offshore renewable development
13.02.2020 Wind , Invesments , Americas

Turkish, US businesses to meet in Washington in April

- Bilateral meeting to focus on energy, infrastructure and construction, digital economy, tourism, defense industry
11.02.2020 Invesments , Turkey , Americas

BP increases hydrocarbon production in 4Q19

- Underlying replacement cost profit falls 25.7% in final quarter, declines 21.2% for full year of 2019
05.02.2020 Upstream , Invesments , Europe

Pakistan Stock Exchange loses 1,200 points

- Latest dive linked to high inflation reading and global equities slump
04.02.2020 Finance , Invesments , Stock Market , Asia

Turkey, Ukraine pledge steps to boost economic ties

- Turkish President Erdogan says Turkish contracting sector signed 184 projects worth total of $6.3B in Ukraine
04.02.2020 Finance , Invesments , International Relations , Turkey , Asia

Uzbekistan's gas production down 1.6% in 2019

- Central Asian country expects to increase gas production to 66 billion cubic meters per year in 2020
31.01.2020 Natural Gas , Oil , Invesments , Energy Security , Energy Projects , Asia

Saudi Aramco invests $5 million in blockchain firm

- By using blockchain technology, the firm aims to further develop its trading platform and expand into new markets
31.01.2020 Downstream , Invesments , Middle East-Africa

Oil revenues under threat for 1.3M Libyans: NOC head

- National Oil Company will not receive requested budget, which means billions less for Libyan people in future, Sanalla says
28.01.2020 Downstream , Invesments , Energy Projects , Middle East-Africa

Turkey set to break 2019 record in gold output in 2020

- Turkey has gone from zero production in 2000 to become the biggest producer in Europe: Turkish Gold Miners Assoc. President
28.01.2020 Projects , Invesments , Turkey

EIB loans €27M to Spain's Arteche for power innovation

- Arteche Group will focus on development of new technologies, solutions and products for the electric power industry
23.01.2020 Electricity , Invesments , Europe

Foreign investors eye Turkish start-ups

- Turkey has strategic location, impressive start-up scene, CEO of UK-based corporate advisor firm says
18.01.2020 Finance , Invesments , Turkey

S. Aramco nets extra $3.8 bln. after greenshoe option

- Aramco’s IPO is now worth $29.4 billion overtaking previous record holder; Chinese Alibaba
14.01.2020 Oil , Projects , Invesments , Energy Security , Energy Projects , Middle East-Africa

Danish firm to produce wind equip. with Turkish partner

- The joint venture company "Resolux Turkey" will begin production of wind turbine tower internals by end of January
08.01.2020 Renewable , Wind , Invesments , Turkey , Europe

Turkey's gold production breaks record in 2019

- Gold output rises 40% from 2018 to 38 tonnes, breaking previous record set in 2013
03.01.2020 Invesments , Turkey

We will have a say in future technology: Turkish leader

- President Erdogan reiterates Turkey’s determination to lead the way in cutting-edge technological innovation
01.01.2020 Invesments , Turkey

Turkey spearheads major high-tech developments in 2019

- Government takes major steps in technology, supports private sector, educational activities over course of year
31.12.2019 Invesments , Turkey

Highlights of Turkish energy market in 2019

- E. Med. drilling, completion of TurkStream and of Akkuyu NPP foundation, TANAP's Europe leg opening were hot topics in 2019
23.12.2019 Natural Gas , Oil , Renewable , Projects , Invesments , Energy Diplomacy , Energy Projects , Turkey

OPEC cuts disrupt planned oil projects worldwide

- 'Each time OPEC announces a cut, it affects planned projects across globe,' Dateline Energy Services CEO in Nigeria says
14.12.2019 Upstream , Invesments , Energy Projects , Middle East-Africa

EBRD to work on environmental action plan in Izmir

- The action plan involves investment program addressing the city’s most pressing environmental challenges
12.12.2019 Invesments , Turkey , Europe

Japan's Hamax to produce wind equipment in Turkey

- Turkey offers best location for selling products domestically and for expansion into European market: Hamax CEO says
11.12.2019 Renewable , Wind , Projects , Invesments , Turkey , Asia

Iran needs investments to capitalize on new oil field

- World's third largest oil field in Khuzestan when operational will make Iran even stronger competitor to Saudi Arabia
11.12.2019 Oil , Invesments , International Relations , Energy Projects , Middle East-Africa

Turkey's fund to build $10B petchem & refinery facility

- Refinery in Ceyhan will help reduce Turkey's current account deficit by $1.5 billion annually
04.12.2019 Invesments

Oil giants' total income declines 56% in third quarter

- Top oil companies' total net income falls to $14.24 billion from $32.51 billion year-over-year
03.12.2019 Upstream , Invesments , Europe , Americas

US Thanksgiving travel volume to be highest in 14 years

- 55 million people are expected to travel this Thanksgiving weekend
29.11.2019 Downstream , Invesments , Americas

Saudi Aramco retail subscription hits $8.69 billion

- Retail portion of Saudi Aramco’s initial public offering is fully covered at 102%
29.11.2019 Upstream , Invesments , Middle East-Africa
  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11

  • Turkey unveils new economic program for 2021-2023
1 / 1

Turkey unveils new economic program for 2021-2023

  • up
Anadolu Agency

Corporate

  • History
  • Editorial Guideliness
  • Social Media Policies
  • Executive Team
  • Domestic Offices
  • International Offices
  • Media Center
  • Contact
  • Quality Management
  • Privacy and Cookies Policy
  • Information Policy
  • Diary
  • Coronavirus Infection Map
  • Subscription Requests
  • Announcement Service

  • Company News
  • Finance Terminal
  • Anadolu Images
  • Energy Terminal
  • News Academy

mobile services

  • IPhone Application
  • IPad Application
  • Android Application
  • Windows Application
We use cookies in a limited and restricted manner for specific purposes. For more details, you can see "our data policy".
Accept
© Anadolu Agency 2021