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Turkey

Markets

OMV wants buyer for its Turkish unit

OMV is said to be seeking a buyer for its Turkish unit Petrol Ofisi in line with its strategy of focusing on upstream and integrated downstream businesses.

Middle East

Israel claims ISIS funded by “Turkish money”

Israel’s defence minister has alleged ISIS (Islamic State) has been funded with “Turkish money”. Moshe Ya’alon made the claim as he said the Turkish government was not pulling its weight in the fight against the network.

Other News

Appeal launched to resolve gas price row with Russia

An appeal has been made by the Turkish state gas importer Botas to the International Chamber of Commerce in a bid to resolve a row over the price of gas from Russia. The move has been made after the two countries failed to sign an deal. Earlier this year Turkey said it had obtained a 10.25% price discount on the 28-30 billion cubic metres (bcm) of gas it buys from Russia each year but the two sides have been at loggerheads over the deal for months.

Oil & Gas

Explosion hits Shah Deniz gas pipeline in northeast Turkey

An explosion hit Turkey's Shah Deniz pipeline carrying natural gas from Azerbaijan early on Tuesday but there was no impact on supply because the flow was already suspended for maintenance, a senior Turkish energy official said. It was not immediately clear what caused the blast, but it comes days after an attack by the PKK Kurdish militant group halted the flow in a pipeline carrying crude oil to Turkey from Iraq.