• 4 mintues Texas forced to have rolling brown outs. Not from downed power line , but because the wind energy turbines are frozen.
  • 7 minutes Forecasts for oil stocks.
  • 9 minutes Biden's $2 trillion Plan for Insfrastructure and Jobs
  • 13 minutes European gas market to 2040 according to Platts Analitics
  • 17 hours Simple question: What is the expected impact in electricity Demand when EV deployment exceeds 10%
  • 15 hours America's pandemic dead deserve accountability after Birx disclosure
  • 2 days Biden about to face first real test. Russia building up military on Ukraine border.
  • 3 days Trump punches back at Fauci and Birx's revisionist history (aka lies)
  • 4 days The coming Cyber Attack
  • 1 day U.S. and Chinese investors to buy Saudi pipelines , $10 Billion deal.
  • 2 days Create a new law "Postericide" to prosecute and imprison Climate Change "Deniers"
  • 3 days New Chinese Coal Plants Equal All those in U.S.A
  • 3 days Goldman Betting on Cryptocurrencies
  • 6 days Beware the Left's 'Degrowth' Movement (i.e. why Covid-19 is Good)
  • 1 hour Does .001 of Atmosphere Control Earth's Climate?!
  • 5 days New German Study Shocks Electric Cars: “Considerably” Worse For Climate Than Diesel Cars, Up To 25% More CO2
  • 21 hours NG spot prices hit triple digits for weekend delivery
Saudi Arabia Sidelined By Biden's Middle East Strategy

Saudi Arabia Sidelined By Biden's Middle East Strategy

Saudi Arabia is sidelining itself…

Houthi Rebels Launch Missile Attack On Saudi Oil Terminal

Houthi Rebels Launch Missile Attack On Saudi Oil Terminal

A petroleum products distribution terminal…

Saudi Arabia Proposes Ceasefire In Yemen Conflict

Saudi Arabia Proposes Ceasefire In Yemen Conflict

Saudi Foreign Minister Prince Faisal…

ZeroHedge

ZeroHedge

The leading economics blog online covering financial issues, geopolitics and trading.

More Info

Premium Content

Defiant Erdogan Says Turkey Has Resumed Mediterranean Gas Exploration & Drilling

While over a week ago it was looking as if Turkey might back down on its ambitious oil and gas exploration aims in the eastern Mediterranean amidst global pressure, especially coming from the EU and US, President Erdogan is defiant once again, announcing Friday the resumption of energy exploration work that Greece and Cyprus says violates their territorial waters.

Emerging from Friday prayers at Hagia Sophia - which Turkey recently declared a mosque (in another shot aimed at Greece) - Erdogan said: "We have started drilling work again," and added, "I don’t think we are obligated to talk to those who do not have rights in the areas of maritime powers.”

Via Reuters

Erdogan said a seismic survey ship is currently en route to the disputed region to continue its energy exploration.

The Turkish president's comments were also seen as a firm rejected of a recent Greece and Egyptian deal defining their exclusive economic zones in contradiction to Ankara's interpretation.

Turkey denied the agreement as "null and void" — which means Turkey's expansionist claims are being contested by pretty much every Mediterranean country, also including Israel. The exception of course, is the Tripoli-based Libyan Government of National Accord (GNA), which lately inked its own agreement with Turkey defining broad swathes of the Mediterranean as within Turkey's rights.

Turkey has sought to argue that the so-called Turkish Republic of Cyprus, which remains unrecognized internationally, gives it expansive rights encompassing the whole of Cyprus.

Via Anadolu Agency

Meanwhile Greece has complained of weekly illegal Turkish military incursions of its airspace, in a situation that is becoming militarized by the week.

Lately Greek forces have been on 'high alert' after Athens promised it would never let Turkish ships encroach of Greek maritime territory. The EU has also threatened sanctions over the past month as the crisis has grown. 

By Zerohedge.com

More Top Reads From Oilprice.com:


Download The Free Oilprice App Today

Back to homepage





Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News