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French authorities charge Telegram’s boss, ban him leaving country
French authorities charge Telegram’s boss, ban him leaving country
By admin on March 27, 2025 |
Business
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French authorities charged Pavel Durov, the founder and chief of Telegram, with a series of violations related to the messaging app and banned him from...
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How Türkiye drone boom propelled Bayraktar brothers to taxpayer glory
How Türkiye drone boom propelled Bayraktar brothers to taxpayer glory
By admin on March 27, 2025 |
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Baykar’s meteoric rise in global drone exports has propelled Selçuk and Haluk Bayraktar to cement their title of the nation’s top taxpayers in 2023. Renowned...
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Over half of Libya’s oil output offline amid political standoff
Over half of Libya’s oil output offline amid political standoff
By admin on March 27, 2025 |
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Over half of Libya's oil production, or around 700,000 barrels per day (bpd), was offline on Thursday, as a standoff between rival political factions over...
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Türkiye rebuffs claims of proposal to keep S-400s ‘in boxes’ for F-35s
Türkiye rebuffs claims of proposal to keep S-400s ‘in boxes’ for F-35s
By admin on March 27, 2025 |
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Türkiye reiterated on Thursday that there is no change in its position amid recent speculations that Ankara was keen to keep S-400 air defense missile...
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BoE follows Fed to keep rates on hold amid ‘intensified’ uncertainty
BoE follows Fed to keep rates on hold amid ‘intensified’ uncertainty
By admin on March 23, 2025 |
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The Bank of England (BoE) held interest rates unchanged at 4.5% on Thursday, following a similar move by the U.S. central bank a day earlier...
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CBRT pauses policy funding, raises overnight lending rate to 46%
CBRT pauses policy funding, raises overnight lending rate to 46%
By admin on March 23, 2025 |
Business
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Türkiye’s central bank on Thursday announced it had suspended one-week repo auctions and raised its overnight lending rate to 46%, in a move economists interpret...
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Travel chaos as huge fire shuts down London’s Heathrow Airport
Travel chaos as huge fire shuts down London’s Heathrow Airport
By admin on March 23, 2025 |
Business
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A massive fire at an electrical substation knocked out power to London's Heathrow Airport on Friday, forcing a full-day shutdown that stranded hundreds of thousands...
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Türkiye, Slovakia, Hungary get US waiver extension for Russian gas
Türkiye, Slovakia, Hungary get US waiver extension for Russian gas
By admin on March 23, 2025 |
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Türkiye, Slovakia and Hungary have received extensions from the United States to waivers for gas payments to Russia, according to reports, which said the extensions...
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Türkiye’s consumer confidence reaches nearly 2-year high in March
Türkiye’s consumer confidence reaches nearly 2-year high in March
By admin on March 23, 2025 |
Business
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Consumer confidence in Türkiye improved further in March to the highest level in nearly two years, official data showed on Friday. The consumer confidence index...
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BP sells Apollo $1B stake in firm invested in TANAP gas pipeline
BP sells Apollo $1B stake in firm invested in TANAP gas pipeline
By admin on March 23, 2025 |
Business
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British energy giant BP has agreed to sell a stake in a firm invested in the TANAP gas pipeline linking Azerbaijan and Türkiye for $1...
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Trump mulling F-35 jet sale to Türkiye: US media report
Trump mulling F-35 jet sale to Türkiye: US media report
By admin on March 23, 2025 |
Business
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U.S. President Donald Trump is considering selling fighter jets, even fifth-generation F-35s, to Türkiye, according to a report from Fox News on Friday. Citing two...
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Probes ordered after Heathrow Airport’s shutdown, disruption
Probes ordered after Heathrow Airport’s shutdown, disruption
By admin on March 23, 2025 |
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London's Heathrow Airport resumed operations on Saturday, ordering a probe into how it dealt with a power outage that shut Europe's busiest air hub for...
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UK plans to slash govt costs by 15%, signals 10,000 civil job cuts
UK plans to slash govt costs by 15%, signals 10,000 civil job cuts
By admin on March 23, 2025 |
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British finance chief Rachel Reeves said Sunday she plans to cut the costs of running government by 15% within four years while also announcing 10,000...
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US tourism outlook dims as Trump’s policies herald decline in visits
US tourism outlook dims as Trump’s policies herald decline in visits
By admin on March 23, 2025 |
Business
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The U.S. tourism outlook has clouded in just a couple of weeks due to President Donald Trump's policy decisions that have irked some foreign visitors...
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‘No hesitation’ in implementation of economic program: Şimşek
‘No hesitation’ in implementation of economic program: Şimşek
By admin on March 23, 2025 |
Business
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There is "no hesitation" regarding the implementation of the government's economic program, a top Turkish finance official said recently, emphasizing they were working in "close...
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Regulations and rivalries: The AI leadership debate
Regulations and rivalries: The AI leadership debate
By admin on March 23, 2025 |
Business
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OpenAI has submitted an open letter to the United States Office of Science and Technology Policy (OSTP), which includes recommendations and strategies to preserve America's...
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Europe’s $300B dilemma: What to do with frozen Russian assets
Europe’s $300B dilemma: What to do with frozen Russian assets
By admin on March 23, 2025 |
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With U.S. support for Ukraine in question, Kyiv's European allies are weighing whether to seize $300 billion in frozen Russian assets and use the money...
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Recent quakes at Greece’s Santorini push tourists to Türkiye
Recent quakes at Greece’s Santorini push tourists to Türkiye
By admin on March 23, 2025 |
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The recent earthquakes impacting some of the Greek islands, particularly the widely popular summer spot Santorini, have prompted concerns and left tourists to reconsider their...
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Tourist arrivals in Türkiye reach 4.3 million in January-February
Tourist arrivals in Türkiye reach 4.3 million in January-February
By admin on March 23, 2025 |
Business
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Türkiye saw a slight increase in the number of foreign visitors in the first two months of 2025 despite a decline in February, official data...
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‘Travel boom’ for Türkiye continues: German tour giant Tui
‘Travel boom’ for Türkiye continues: German tour giant Tui
By admin on March 23, 2025 |
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The world's largest travel group Tui is forecasting strong demand for the upcoming fall holidays, as people want to extend their summer days into the...
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Climate change, crowd: Should Greece rethink its tourism model?
Climate change, crowd: Should Greece rethink its tourism model?
By admin on March 22, 2025 |
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As temperatures soar and tourist numbers increase, Greece is under pressure to rethink a tourism model that climate change is making increasingly untenable. With its...
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Turkish tourists encouraged to visit TRNC
Turkish tourists encouraged to visit TRNC
By admin on March 22, 2025 |
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Launching a promotional campaign in tourism, a top official of the Turkish Republic of Northern Cyprus (TRNC) called on Turkish holidaymakers to take advantage of...
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Libya’s eastern administration to close all oil fields in fresh row
Libya’s eastern administration to close all oil fields in fresh row
By admin on March 22, 2025 |
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Libya's eastern-based administration announced on Monday that it would shut down all oil fields and suspend all production and exports in a surprise move that...
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Canada to impose 100% tariffs on Chinese EVs, following US suit
Canada to impose 100% tariffs on Chinese EVs, following US suit
By admin on March 22, 2025 |
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Canadian Prime Minister Justin Trudeau announced on Monday that Canada will impose a 100% tariff on the import of Chinese electric vehicles (EVs), months after...
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Major Turkish defense firms sign agreements with Indonesia
Major Turkish defense firms sign agreements with Indonesia
By admin on March 22, 2025 |
Business
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Türkiye's defense giants Aselsan and Roketsan inked strategic defense industry transfer deals with Indonesia under the leadership of the Presidency of Defense Industries (SSB) in...
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Posts tagged as “crude supplies”

Türkiye saves $2 billion on Russian oil purchases, calculations show

A view shows oil pump jacks outside Almetyevsk in the Republic of Tatarstan, Russia, June 4, 2023. (Reuters Photo)

Türkiye saves $2 billion on Russian oil purchases, calculations show

By admin on December 19, 2023

Türkiye and Turkish companies have saved around $2 billion (TL 58.1 billion) on energy bills in 2023 as the country’s imports of discounted Russian oil…