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Hungarys MOL Breaks Ground of €1.2B Petrochemical Plant

Hungary's MOL Breaks Ground of €1.2B Petrochemical Plant

In a move to transform its business from fuels to chemicals with an integrated value chain, Hungary's MOL together with German thyssenkrupp Industrial Solutions laid the foundation stone Friday to construct a €1.2 billion petrochemical facility - a polyol plant.

Turkish Nat. Gas Price to Remain Unchanged in Near Term

Turkish Nat. Gas Price to Remain Unchanged in Near Term

The price of natural gas is not forecast to change in the near term, Energy and Natural Resources Minister Fatih Donmez said Friday. Highly dependent on foreign natural gas imports, Turkey last saw a gas price increase of 14.9% on Aug. 31.

Turkeys Daily Power Consumption Up 1.52% on Sep. 25

Turkey's Daily Power Consumption Up 1.52% on Sep. 25

Turkey's daily electricity consumption increased by 1.52% to 792,984 megawatt-hours on Wednesday, according to official figures of Turkish Electricity Transmission Corporation (TEIAS) on Thursday.

Eni, Mainstream to Cooperate for Large-Scale Renewables

Eni, Mainstream to Cooperate for Large-Scale Renewables

Italian Eni and global wind and solar development company, Mainstream Renewable Power (Mainstream) signed a cooperation agreement to develop large-scale renewable assets, Eni announced in a statement on Wednesday.

Turkeys Daily Power Consumption Up 3.46% on Sep. 24

Turkey's Daily Power Consumption Up 3.46% on Sep. 24

Turkey's daily electricity consumption increased by 3.46% to 781,088 megawatt-hours on Tuesday, according to official figures of Turkish Electricity Transmission Corporation (TEIAS) on Wednesday.

Delegates From More Than 100 Companies Met at EPOCH Congress

Delegates From More Than 100 Companies Met at EPOCH Congress

Closed-door Congress, co-hosted with Hellenic Petroleum, took place in Thessaloniki earlier this week. The event was supported by both Greek and international media with reporters taking exclusive comments and interview from top-managers.

Turkeys Daily Power Consumption Up 14.% on Sep. 23

Turkey's Daily Power Consumption Up 14.% on Sep. 23

Turkey's daily electricity consumption increased by 14% to 754,939 megawatt-hours on Monday, according to official figures of Turkish Electricity Transmission Corporation (TEIAS) on Tuesday.

Energy Infrastructure Needs Enhanced Security

Energy Infrastructure Needs Enhanced Security

In light of the recent attacks on Saudi Aramco’s oil facilities, a more robust defense system needs to be implemented to detect such low-altitude missiles and drones, Arda Mevlutoglu, an expert on defense politics told Anadolu Agency.

Turkeys Daily Power Consumption Up 0.33% on Sept. 18

Turkey's Daily Power Consumption Up 0.33% on Sept. 18

Turkey's daily electricity consumption increased by 0.33% to 820.282 megawatt-hours on Wednesday, according to official figures of Turkish Electricity Transmission Corporation (TEIAS) on Thursday.

Oil Rises With US Due to Levy More Sanctions on Iran

Oil Rises With US Due to Levy More Sanctions on Iran

Crude oil prices were up at trading start on Thursday as the U.S. prepares to impose more sanctions on Iran in retaliation for what Washington considers is Tehran's attacks on Saudi Arabia's oil facilities.

Turkeys Daily Power Consumption up 1.33% on Sept. 17

Turkey's Daily Power Consumption up 1.33% on Sept. 17

Turkey's daily electricity consumption increased by 1.33% to 817,519 megawatt-hours on Tuesday, according to official figures of Turkish Electricity Transmission Corporation (TEIAS) on Wednesday.

France to Send Experts for Probe of Saudi Oil Attack

France to Send Experts for Probe of Saudi Oil Attack

France will send experts to Saudi Arabia to help investigations into Saturday’s drone attacks on two facilities of state-owned oil company Aramco, the Elysee Palace said on Wednesday.

Turkeys Daily Wind Power Generation Hits Record

Turkey's Daily Wind Power Generation Hits Record

Turkey's wind electricity generation hit a daily record on Sunday with 19 percent of the total power being generated from wind, according to data of Turkey's Electricity Transmission Corporation (TEIAS) on Monday.

Record US Gas Production Pushes Prices to 20-Year Lows

Record US Gas Production Pushes Prices to 20-Year Lows

Record natural gas production in the U.S. has pushed gas prices to their lowest level in 20 years, according to the latest issue of Natural Gas World Magazine published on Monday.

IKEA Parent to Buy 80% Stake in Seven Romanian Wind Farms from Vestas

IKEA Parent to Buy 80% Stake in Seven Romanian Wind Farms from Vestas

Ingka Group, the parent company of Swedish furniture retailer IKEA, said on Friday it has signed an agreement to buy an 80% stake in seven Romanian wind farms from Danish wind turbine maker Vestas for 136 million euros ($150 million)