Latest news with #NevzatDevranoglu
Yahoo
21-05-2025
- Business
- Yahoo
Turkey in nuclear plant talks with Candu, energy minister says
By Nevzat Devranoglu SIRNAK, Turkey (Reuters) -Turkey is in talks with Canada's Candu Energy and other companies regarding plans to build its second and third nuclear power plants, Turkish Energy Minister Alparslan Bayraktar said. Speaking to reporters during a visit to southeast Turkey on Monday, Bayraktar said Turkey wants to "put a name" to the projects for its additional planned plants this year. "Russia, South Korea and China are interested in the second and third power plant. But in addition to these, there are also other countries and companies we are negotiating with," he said. "One of them is Canada, for example. The Candu company," he added. Candu did not immediately respond to a request for comment. Rosatom, Russia's state nuclear energy company, is building Turkey's first nuclear power station at Akkuyu in the Mediterranean province of Mersin under a $20 billion accord from 2010. Turkey plans to build a second nuclear plant in the Black Sea region of Sinop and a third nuclear plant in the northwestern region of Thrace.
Yahoo
21-05-2025
- Business
- Yahoo
Estimated 6 billion barrel shale oil reserve in southeast Turkey, minister says
By Nevzat Devranoglu SIRNAK, Turkey (Reuters) -U.S. oil producer Continental Resources estimates there is a shale oil reserve of 6.1 billion barrels in Turkey's southeastern Diyarbakir Basin, the Turkish energy minister said. Continental Resources and Turkish national oil company TPAO signed a joint venture agreement in March to develop shale fields in the basin. "Turkey's current annual (crude) oil import amounts to 365 million barrels. So a 6.1 billion barrel reserve is a great figure," Energy Minister Alparslan Bayraktar told reporters during a visit to southeast Turkey this week. The minister previously heralded the March agreement as "a new era in local crude oil exploration" with Turkey viewing shale oil and gas discoveries as a key development. It is aiming to produce shale gas from the northwestern Thrace region, Bayraktar said. "Shale oil and shale gas could be a game changer," he said. Continental Resources did not immediately respond to a request for comment. Turkey is not a major oil and gas producer and currently imports more than 90% of its energy needs. The government is looking to cut its import bill and boost supply security by developing domestic resources and expanding international partnerships in oil and gas exploration. President Tayyip Erdogan recently announced that Turkey had discovered a new reserve of 75 billion cubic metres (bcm) of natural gas during drilling works in the Black Sea.
Yahoo
21-04-2025
- Business
- Yahoo
Turkey's Simsek to meet ratings agencies, investors on US trip
By Nevzat Devranoglu GIRESUN, Turkey (Reuters) - Turkish Finance Minister Mehmet Simsek said he will meet with rating agencies, investors and companies planning to shift supply to Turkey during a visit to the United States this week. "I will be in America this week for the IMF, World Bank and G20 meetings. We will meet with rating agencies in New York at the beginning of the week and then with direct investors based in America," Simsek told reporters during a weekend visit to Turkey's Black Sea province of Giresun. "We will meet with real sector representatives, especially U.S. companies that plan to shift their supply to Turkey, especially following recent developments," he said, referring to the tariffs imposed by U.S. President Donald Trump. Last Friday, Turkey's overnight interest rate rose to the new upper band of the rate corridor, around 49%, a day after the central bank's surprise policy tightening. Those moves followed weeks of market turmoil triggered by the March arrest of Istanbul Mayor Ekrem Imamoglu, President Tayyip Erdogan's main political rival, and then the imposition of tariffs by Trump. Simsek said he would attend around 15 bilateral meetings or meetings organised by investment banks each day in the United States, and would convey the message that Turkey's economic programme will not change. "In all these meetings, we will say that there is no change in the programme, that there is a very strong political will behind the programme," Simsek said. Sign in to access your portfolio
Zawya
03-04-2025
- Business
- Zawya
Turkey central bank sharply raises bond buybacks to boost liquidity
ANKARA - Turkey's central bank bought back a total of 30.5 billion lira ($804 million) in nominal Treasury bonds through direct purchase auctions on Wednesday, marking a sharp increase from previous trading sessions, bankers said. The move aims to ease tight liquidity conditions in the bond market, according to market participants. Of the total amount, 19.3 billion lira was allocated to three Turkish Lira Overnight Reference Rate (TLREF)-indexed bonds, while the remaining purchases were spread across three fixed-coupon bonds. The central bank had launched direct buyback auctions for six bond issues, including fixed-coupon bonds maturing on Aug. 12, 2026, Nov. 8, 2028, and Oct. 5, 2033, as well as TLREF-indexed bonds maturing on May 17, 2028, Sept. 6, 2028, and Dec. 6, 2028. ($1 = 37.9081 liras) (Reporting by Nevzat Devranoglu; Writing by Ece Toksabay; Editing by Jonathan Spicer)
