World Bulletin / News Desk
The NATO oil pipeline in Turkey, which has so far been used solely for NATO purposes, will opened for civilian use, according to a source in the Ministry of Energy and Natural Resources who prefers to remain unnamed.
The goal of expanding the use of the pipeline is to deal a harsh blow against oil smuggling. The legal procedures and amendments to regulations concerning limits on the pipeline's use are expected to be completed soon.
The pipeline is roughly 3,000 kilometers long. The ministry source told Today's Zaman that at present only 20 percent of its capacity has been utilized. The pipeline passes through several provinces in Turkey's central, eastern and western regions, as well as provinces in Marmara. Additional use of the pipeline will considerably decrease the need for oil tanker trucks to use roads to transport oil and it is also expected to cause some TL 100 million in lost in revenue for oil smugglers, according to the source.
Taner Mutlu, head of the Energy Market Regulatory Authority (EPDK)'s oil department, brought attention to the issue during an event last week, saying the institution is looking to open the NATO pipeline for civilian use.
Treasury reports central government debt stock in March rises around 15 pct year-on-year, reaching nearly $235 billion
Sales to foreigners amounted to 1,827, 15.8 pct rise year-on-year, according to official report
BIST 100 slips 0.15 percent; US dollar/Turkish lira exchange rate stands at 4.0460
BIST 100 rises 0.01 percent; US dollar/Turkish lira exchange rate drops to 4.0250
Fresh hopes that Donald Trump and North Korea's leader Kim Jong Un will hold a historic summit within months also provided some much-needed optimism.
The fund cautioned that investors and financial markets expect a steady approach to monetary tightening based on the belief inflation will remain relatively tame.
Turkey's assets abroad go up 2.4 percent at end of February 2018, compared to end of 2017: Turkish Central Bank
BIST 100 decreases 0.12 percent; US dollar/Turkish lira exchange rate stands at 4.1020
Hong Kong and China ended down after fluctuating through the morning on data showing the world's number two economy expanded in January-March at the same rate as the previous three months.
For Turkey, Germany is a very important, indispensable partner: Turkish Energy Minister Albayrak says in Berlin
BIST 100 rises 0.69 percent; US dollar/Turkish lira exchange rate stands at 4.0830
The United States, Britain and France carried out attacks at the weekend on alleged chemical weapons facilities, in response to what they say was a toxic gas attack by the Russia-backed Assad regime a week before.
Excluding interest payments, central government budget balance saw surplus of nearly $500M in first quarter of 2018
London's FTSE 100 index fell 0.1 percent to 7,254.83 points, with UK advertising giant WPP diving four percent after chief executive Martin Sorrell resigned over the weekend.
The US, Britain and France carried out attacks at the weekend on alleged chemical weapons facilities, in response to what they say was a toxic gas attack by the Russia-backed Assad regime a week before.