• 6 minutes Can the World Survive without Saudi Oil?
  • 10 minutes Saudis Threaten Retaliation If Sanctions are Imposed
  • 15 minutes Closing the circle around Saudi Arabia: Where did Khashoggi disappear?
  • 3 hours U.N. About Climate Change: World Must Take 'Unprecedented' Steps To Avert Worst Effects
  • 3 mins WTI @ $75.75, headed for $64 - 67
  • 3 hours Saudis Pull Hyperloop Funding As Branson Temporarily Cuts Ties With The Kingdom
  • 22 mins OPEC's No. 2 Producer Wants to Know How Buyers Use Its Oil
  • 3 hours U.S. - Saudi Arabia: President Trump Says Saudi Arabia's King Wouldn't Survive "Two Weeks" Without U.S. Backing
  • 2 hours Iranian Sanctions - What Are The Facts?
  • 15 hours How High Can Oil Prices Rise? (Part 2 of my previous thread)
  • 15 hours UN Report Suggests USD $240 Per Gallon Gasoline Tax to Fight Global Warming
  • 4 mins China Thirsty for Canadian Crude
  • 17 hours Two Koreas: U.N. Command Wrap Up First Talks On Disarming Border
  • 16 hours Shell, partners approve huge $31 billion LNG Canada project. How long till Canadian Federal government Environmentalates it into the ground?
  • 3 hours EU to Splash Billions on Battery Factories
  • 3 hours Superhumans
The Oil Markets Are At A Confusing Crossroads

The Oil Markets Are At A Confusing Crossroads

The latest IEA report suggests…

Oil Prices Subdued, But For How Long?

Oil Prices Subdued, But For How Long?

Oil prices may have closed…

UAE Agrees $12 Billion Deal to Help Develop Turkey's Coal Reserves

Turkey has just signed a $12 billion agreement with the United Arab Emirates (UAE) to develop its huge coal fields in the southern part of the country. The deal between TAQA, in Abu Dhabi, and Turkey’s state-run utility EUAS represents the largest investment made by an Arab nation in the Turkish energy sector.

Taner Yildiz, the Turkish Energy Minister, remarked that “this is a very serious investment, a significant investment. This is the second-biggest investment made in Turkey after the two nuclear power plant projects.”

The Afsin-Elbistan basin in southern Turkey is estimated to contain around 4.4 billion tonnes of coal, around 40% of Turkeys entire reserves, and could provide enough fuel to power as much as 8.2GW of coal-fired power stations.

Related Article: Why does World Coal Consumption continue to Grow?

Natural gas is currently Turkey’s largest source of energy. Most of it is imported which means that it accounts for a large portion of the nation’s current account deficit. Turkey hopes that the use of this coal, and the extra power generation that it could supply, will enable it to reduce its natural gas imports by around $1.2 billion.

Turkey currently imports a lot of its natural gas from Iran, and developing this coal would enable it to comply with Western pressure and reduce those imports.

By. Joao Peixe of Oilprice.com



Join the discussion | Back to homepage

Leave a comment

Leave a comment

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