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Business Turkey

  • BERLIN, July 16- German Chancellor Angela Merkel rejected criticism from her SPD challenger on Sunday that she was neglecting the country's infrastructure, pointing to already increased investment levels and capacity bottlenecks in some parts of the economy. SPD leader Martin Schulz has accused Merkel of making empty promises about Germany's economic...

  • SYDNEY- Reserve Bank of Australia to release the minutes of July monetary policy meeting- 0130 GMT. SYDNEY- Alex Heath, Head of Economics Analysis Department at Reserve Bank of Australia, gives speech at the Women in Economics panel at the Australian Conference of Economists, Sydney- 0530 GMT. MELBOURNE- Assistant Governor at the Reserve Bank of Australia, Michele...

  • During a joint news conference with his Turkish counterpart, Sheikh Mohammed bin Abdulrahman Al Thani also told reporters in Ankara that Qatar would continue to work with the United States and Kuwait to end the standoff with its four Arab neighbors. Tillerson concluded his mediation efforts on Thursday, making no promise of an imminent breakthrough but...

  • SYDNEY- Reserve Bank of Australia to release the minutes of July monetary policy meeting- 0130 GMT. SYDNEY- Alex Heath, Head of Economics Analysis Department at Reserve Bank of Australia, gives speech at the Women in Economics panel at the Australian Conference of Economists, Sydney- 0530 GMT. JAKARTA- Indonesia Central Bank board of governors' meeting.

  • *OPEC sees lower demand for its oil in 2018, points to surplus. *OPEC production up 393,000 bpd in June, led by Libya, Nigeria. NEW YORK, July 12- Oil futures rose more than 1 percent on Wednesday, but backed off session highs despite hefty drawdowns in U.S. crude and gasoline inventories as government data also showed stocks were still above average and demand...

  • *Demand for OPEC crude to fall by 60,000 bpd next year. *OPEC output jumps in June, above 2017, 2018 demand for its crude. LONDON, July 12- OPEC said on Wednesday its oil production jumped in June and forecast world demand for its crude will decline next year as rivals pump more, pointing to a market surplus in 2018 despite an OPEC- led output cut.

  • OPEC production up 393,000 bpd in June, led by Libya, Nigeria. By Alex Lawler and Ahmad Ghaddar. LONDON, July 12- Oil rose above $48 a barrel on Wednesday in response to a fall in U.S. fuel inventories and a cut in the U.S. government's forecast for crude output, despite suggestions from OPEC that the oil market will see a surplus next year.

  • *Demand for OPEC crude to fall by 60,000 bpd next year. LONDON, July 12- World demand for OPEC's crude will decline next year as U.S. shale producers and other rivals pump more, OPEC said on Wednesday, suggesting the oil market will see a surplus in 2018 despite an OPEC- led output cut. Under the deal to support the market, OPEC is curbing output by about 1.2 million bpd...

  • ISTANBUL, July 12- Iran's oil output will rise to around 4 million barrels per day by the end of the year, an Iranian oil official said on Wednesday as the OPEC member tries to ramp up production after years of international sanctions. "By the end of 2017 we hope to reach about 4 million barrels per a day," Amir Hossein Zamaninia, Iran's deputy oil minister for trade and...

  • ISTANBUL, July 11- The U.S. shale drilling boom is likely to ease next year as demand on the industry's service sector is unsustainable, Halliburton's business development head said on Tuesday. The number of rigs drilling for oil in the United States rose to 763 last week, the highest in more than two years, showing that despite oil trading below $50 a barrel, shale...

  • *OPEC may ask Libya, Nigeria to cap output. With lingering questions surrounding production cuts, the market is "iffy on what OPEC is going to do," said James Williams, president of energy consultant WTRG Economics in London, Arkansas. Several key OPEC ministers will meet non- OPEC country Russia on July 24 in St Petersburg, Russia, to discuss oil markets.

  • ISTANBUL, July 10- Russian Energy Minister Alexander Novak said on Monday that construction of two power plants in Crimea would go ahead. He was asked for comment about the project after Germany's Siemens' said in a statement on Monday that at least two of its gas turbines had been moved "against its will" from Russia to Crimea- a region subject to sanctions barring...

  • ISTANBUL, July 10- Turkey warned Greek Cypriots on Friday not to make a grab for energy reserves around the divided island and President Tayyip Erdogan told oil companies to be careful they did not lose a "friend" by joining in. Talks to reunite the ethnic Greek and Turkish sides of Cyprus collapsed in anger and recrimination in the early hours of Friday, ending a...

  • ISTANBUL, July 10- Turkey warned Greek Cypriots on Friday not to make a grab for energy reserves around the divided island and President Tayyip Erdogan told oil companies to be careful they did not lose a "friend" by joining in. Talks to reunite the ethnic Greek and Turkish sides of Cyprus collapsed in anger and recrimination in the early hours of Friday, marking the...

  • Russian Energy Minister Alexander Novak.

    OPEC and non-OPEC producers have the capacity to extend and deepen their production cuts should the oil market's situation become even more complex, Russia's Oil Minister Alexander Novak told CNBC on Monday.

  • ISTANBUL, July 10- Turkey warned Greek Cypriots on Friday not to make a grab for energy reserves around the divided island and President Tayyip Erdogan told oil companies to be careful they did not lose a "friend" by joining in. Talks to reunite the ethnic Greek and Turkish sides of Cyprus collapsed in anger and recrimination in the early hours of Friday, marking the...

  • *OPEC, non- OPEC ministers to meet on July 24 in Russia. ISTANBUL/ LONDON, July 10- Libyan and Nigerian officials may attend a joint meeting between OPEC and non- OPEC nations later this month as oil producers look for ways to cap rising production to help support oil prices. Six ministers from OPEC and non- OPEC nations including Kuwait, Venezuela, Algeria, Saudi Arabia,...

  • ISTANBUL, July 10- The world might be heading for an oil supply shortage following a steep drop in investments and a lack of fresh conventional discoveries, Saudi Aramco's chief executive said on Monday. Unconventional shale oil and alternative energy resources are an important factor to help meet future demand but it is premature to assume that they can be...

  • *OPEC, non- OPEC ministers to meet on July 24 in Russia. ISTANBUL/ LONDON, July 10- Libya and Nigeria may attend a joint meeting between OPEC and non- OPEC this month, Russia's energy minister said on Monday, as oil producers look for ways to cap rising production to help support oil prices. Six ministers from OPEC and non- OPEC nations including Kuwait, Venezuela, Algeria,...

  • *OPEC, non- OPEC ministers to meet on July 24 in Russia. ISTANBUL/ LONDON, July 10- Libya and Nigeria may attend a joint meeting between OPEC and non- OPEC this month, Russia's energy minister said on Monday, as oil producers look for ways to cap rising production to help support oil prices. Six ministers from OPEC and non- OPEC nations including Kuwait, Venezuela, Algeria,...