Latest news with #Bayraktar
Qatar Tribune
3 hours ago
- Business
- Qatar Tribune
Turkey's TPAO joins major Azeri gas field project
Agencies Turkey's state energy company TPAO is joining a major natural gas field off Azerbaijan as a partner, in a deal that will mark a new chapter in bilateral cooperation, Energy and Natural Resources Minister Alparslan Bayraktar announced on Monday. The gas production-sharing agreement will be signed between TPAO, Azerbaijan's SOCAR and British energy giant BP on Tuesday and covers the Shafag-Asiman offshore block in the Caspian Sea, Bayraktar told the Baku Energy Week conference. He described the partnership between Turkey and Azerbaijan as a 'strategic energy alliance built on deep-rooted history, shared culture and a common vision' and said the new deal would enhance joint production in Azerbaijan. The Shafag-Asiman offshore block has long been viewed as a promising site for hydrocarbon exploration. It is 125 kilometres (78 miles) southeast of Baku and at a depth of 650-800 metres, according to SOCAR's website. The first exploration well was drilled in 2020. 'Hopefully, we will finalize the agreement here. We have acquired a 30 percent stake. Our partners are SOCAR and BP. We hope to begin production at this field,' Bayraktar told reporters on the sidelines of the conference. In a message sent to the opening ceremony of the event, President Recep Tayyip Erdoğan reaffirmed Turkey's commitment to deepening energy cooperation with Azerbaijan, calling their joint projects a key to regional and European energy security. Erdogan praised the enduring partnership between Ankara and Baku, which he said has been crowned with joint infrastructure projects such as the Baku-Tbilisi-Ceyhan (BTC), Baku-Tbilisi-Erzurum pipelines, and the Trans-Anatolian Natural Gas Pipeline (TANAP). 'Our collaboration not only benefits Turkey and Azerbaijan but also continues to make significant contributions to the energy security of the region and Europe,' said thepresident. On the sidelines of the event, Bayraktar held a meeting with Azerbaijani President Ilham Aliyev, which he described as productive, focusing on expanding cooperation across various energy domains. 'TPAO's presence in Azerbaijan is growing. We're also discussing collaboration on additional fields and will continue to ramp up our activity in the Caspian Sea,' he said. Bayraktar echoed Erdoğan's view that Turkish-Azerbaijani energy projects contribute to Europe's energy security. 'In the coming period, we anticipate new developments regarding projects that aim to deliver gas to Europe from alternative and additional sources,' he said. He also highlighted Azerbaijan's increasing investments in renewables and revealed plans for cross-border clean energy infrastructure. 'In the period ahead, we will develop projects for generating renewable energy in Nakhchivan and transporting it to Turkey, and through Turkey on to Europe,' he added. The remarks come at a time of rising global energy uncertainty driven by geopolitical conflicts, aging infrastructure and market volatility.
Hans India
16 hours ago
- Business
- Hans India
Turkish firm Celebi's arbitration application rejected in India
New Delhi: Celebi Ground Handling India's arbitration application for interim measures against Ahmedabad International Airport over the cancellation of security permits has been dismissed, according to an exchange filing by the Turkish firm's parent company. "The arbitration application filed by our company, Celebi Ground Handling India Pvt Ltd, in which our company owns 61 per cent of the capital, against Adani Ahmedabad International Airport Limited in the Ahmedabad Commercial Court on 27.05.2025, seeking interim measures due to the cancellation of security clearances by the Civil Aviation Security Bureau in relation to its operations at Ahmedabad International Airport, was rejected on 02.06.2025," the company stated. The company said it would appeal to the Supreme Court on the issue. The Indian government has revoked the security clearance for Turkish ground-handling firm Celebi Airport Services at Indian airports, in the wake of Turkey's support to Pakistan after the Pahalgam terror attacks and Operation Sindoor launched by India to avenge the killings of 26 tourists. In a notification, the Ministry of Civil Aviation said, 'In the exercise of power conferred upon DG, BCAS, the security clearance in Celebi Airport Services India Pvt Ltd is hereby revoked with immediate effect in the interest of National Security.' The Turkish company handles around 70 per cent of the ground operations at Mumbai airport, including passenger services, load control, flight operations, cargo and postal services, warehouses and bridge operations. Minister of State for Civil Aviation and Cooperation, Murlidhar Mohol, also stated that there were requests from across India to ban Celebi NAS Airport Services India Ltd. 'Recognising the seriousness of the issue and the call to protect national interests, we have taken cognizance of these requests and Ministry of Civil Aviation has revoked security clearance of the said company. Ensuring the safety and interests of the nation remains our top priority,' the minister posted. Since its entry in 2008, Celebi has expanded its presence in India's aviation sector. As per reports, the firm is partly owned by Sumeyye Erdogan, daughter of Tayyip Erdogan. Sumeyye Erdogan is married to Selcuk Bayraktar, the man who produces Bayraktar military drones, which Pakistan used against India. This suggests that support to Pakistan is not just a matter of Turkish state policy, but one in which Erdogan's own family is directly involved, according to reports.
New Indian Express
27-05-2025
- Business
- New Indian Express
Hostilities with Pak suspended, but it's not business as usual yet
Though hostilities with Pakistan have been suspended, it is not business as usual. Following security concerns expressed by the Union government, the Bureau of Civil Aviation Security (BCAS) has revoked the security clearance of Istanbul-based airport ground handling firm, Celebi Airport Services India. Celebi, an old player in airport services, and with 10,000 employees in India, now faces the prospect of being ousted from the 9 airports it had ongoing contracts. The trigger has been Turkey's undiluted support for Pakistan. Not only did Turkey's President Recep Tayyip Erdogan greet the Pakistani PM Shebaz Sharif as 'his brother', but he ensured a steady supply of Turkey's advanced Bayraktar drones launched on India. In its defense, Celebi has said it has no political affiliations, that it is not a Turkish government organization, and it is not owned by Turkish capital. The company points out it is in existence since 1958 as a global airport services firm. Its majority 50 percent owner is Actera Partners, a New Jersey-registered fund, while 15 percent is held by Alpha Airport Sevices BV, a Netherlands company. It goes without saying national and security interests are paramount, and must prevail over business interests. Business organisations have been known to be moles working for the enemy. In this case though, Celebi has run the security gauntlet and had been given a license to operate in India. Has some new, palpable evidence changed that perception? One can understand Turkey needs to be taught a lesson. But should a company with a fairly long run in India, and with no apparent evidence of security breaches, become the collateral damage?
See - Sada Elbalad
25-05-2025
- Business
- See - Sada Elbalad
Turkey to Export Gas to Syria Starting June
Taarek Refaat Turkey aims to export 2 billion cubic meters of natural gas to Syria annually, starting next June, Energy and Natural Resources Minister Arslan Bayraktar announced. Turkish Anadolu Agency quoted Bayraktar as saying that the connection of the natural gas pipeline extending from the Turkish province of Kilis to the Syrian region of Aleppo has been completed. Bayraktar added, "We are conducting tests on the extended pipeline in preparation for the start of exports within a few days." The Turkish Energy Minister's statement came after his visit to the Syrian capital, Damascus, yesterday, Thursday. Bayraktar indicated that Turkish gas will contribute to the production of 1,200 to 1,300 megawatts of electricity, first to Aleppo and then to Homs. He revealed that work is underway on projects related to strengthening Syria's energy infrastructure in the long term, from production to transmission and distribution. The two countries are considering establishing another energy line between Reyhanli, Hatay, Turkey, and the Harem region in the Idlib countryside, according to a previous statement by Syrian Energy Minister Mohammad al-Bashir, who indicated that the project is "on the agenda." Syria is seeking to secure its electricity needs after more than a decade of conflict that has devastated its infrastructure, as current President Ahmad al-Sharaa seeks to build economic ties with neighboring countries. read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News Egypt confirms denial of airspace access to US B-52 bombers News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia News Australia Fines Telegram $600,000 Over Terrorism, Child Abuse Content Arts & Culture Nicole Kidman and Keith Urban's $4.7M LA Home Burglarized Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Sports Neymar Announced for Brazil's Preliminary List for 2026 FIFA World Cup Qualifiers News Prime Minister Moustafa Madbouly Inaugurates Two Indian Companies Arts & Culture New Archaeological Discovery from 26th Dynasty Uncovered in Karnak Temple Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War Arts & Culture Zahi Hawass: Claims of Columns Beneath the Pyramid of Khafre Are Lies
Yahoo
23-05-2025
- Business
- Yahoo
Türkiye announces estimated 6.1bbbl shale oil reserve
Turkiye's Energy Minister Alparslan Bayraktar has announced that US oil producer Continental Resources has estimated a shale oil reserve of around 6.1 billion barrels (bbbl) in the country's south-eastern Diyarbakir Basin, according to a Reuters report. This figure could position Türkiye in the global oil market above some OPEC countries. Bayraktar emphasised the importance of the discovery, considering Türkiye's current annual crude oil imports are approximately 365 million barrels (mbbl). Türkiye, which relies on imports for more than 90% of its energy needs, is actively seeking to reduce its import bill and enhance supply security through the development of domestic resources and international exploration partnerships. 'If confirmed, these reserves would elevate Türkiye above some OPEC members such as Congo or Gabon, and other major producers like the UK,' Bayraktar stated during a visit to Sirnak province. In March, Continental Resources and Turkish national oil company TPAO signed an agreement to develop shale fields in the Diyarbakır Basin. The Energy Minister previously described the March agreement as "a new era," indicating Türkiye's strategic focus on shale oil and gas discoveries. The country is aiming to commence shale gas production in the north-western Thrace region. Continental Resources has not provided comments on the estimation. The announcement comes shortly after President Tayyip Erdogan's revelation of a new 75 billion cubic metres (bcm) natural gas reserve found during drilling in the Black Sea. The country previously announced its largest-ever onshore oil discovery of 1bbbl of crude in Sirnak two years ahead of the presidential elections. The discovered oil had an API gravity of 41, indicating a lighter grade than Türkiye's existing production. In 2024, Türkiye's crude production stood at 127,000 barrels per day, with imports nearly reaching 1mbbl per day of oil and refined products. Data from the country's Energy Ministry and regulator revealed that discounted Russian oil and refined products constituted two-thirds of Türkiye's imports last year. "Türkiye announces estimated 6.1bbbl shale oil reserve" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
