News for today's 2018

<br /> <br /><div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; mso-outline-level: 1;"><b><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman"; mso-font-kerning: 18.0pt;"><br /></span></b></div><div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; mso-outline-level: 1;"><b><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman"; mso-font-kerning: 18.0pt;"><br /></span></b></div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh3HuxcQg3__BxT1YrIYQHvmufJn7B3liunpt5uoQAVdUdipqBqtjWc4QOzUtrYdmAPEjQa13vH5WpeqLXMpTit97oZR3Yc-qbRR5YeR6ul1x2ZzYa5xK1sobOZoHTwCbyOhhQ28_ANXgJc/s1600/thumb.php.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="213" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh3HuxcQg3__BxT1YrIYQHvmufJn7B3liunpt5uoQAVdUdipqBqtjWc4QOzUtrYdmAPEjQa13vH5WpeqLXMpTit97oZR3Yc-qbRR5YeR6ul1x2ZzYa5xK1sobOZoHTwCbyOhhQ28_ANXgJc/s320/thumb.php.jpg" width="320" /></a></div><div class="MsoNormal" style="line-height: normal; text-align: center;"><b><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman"; mso-font-kerning: 18.0pt;"><br /></span></b></div><div class="MsoNormal" style="line-height: normal; text-align: center;"><span style="color: #0b5394;"><span style="font-size: large;"><b><span style="font-family: "Times New Roman","serif";">TURKEY TAKES ADVANTAGE OF CYPRUS DESPERATION</span></b></span></span></div><div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; mso-outline-level: 1;"><br /></div><div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">As the </span><a href="http://oilprice.com/Energy/Natural-Gas/Cypriot-Bailout-Linked-to-Gas-Potential.html"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">geopolitical game</span></a><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">over Mediterranean hydrocarbons heats up, TURKEY has suspended energy deals with ITALY’S Eni over the company’s involvement in oil and gas exploration offshore CYPRUS. </span></div><div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">The timing is important. It comes just days after CYPRUS secured a painful </span><a href="http://oilprice.com/Energy/Energy-General/EU-Caught-Playing-Dirty-and-its-all-about-Russian-Gas.html"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">EU bailout package</span></a><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">and  it considers extending April bidding for the next round of oil and gas exploration licenses. Bidding is set to end on 26 May, but may be prolonged, according to </span><a href="http://www.bloomberg.com/news/2013-03-26/cyprus-may-extend-offshore-gas-tender-to-attract-more-bids.html"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">Bloomberg</span></a><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">. </span></div><div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;"><br /></div><div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;"><span style="color: #cc0000;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">EXPLORE IN CYPRUS, GET KICKED OUT OF TURKEY</span></b></span></div><div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;"><br /></div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgpO7HG7u0IGgmXnWq4Csw1ZIyyzw4E412nVrgc2ES36Yf3Hr2OgV1HfiMPBm1GjfEz9INtZ3TegPE2-QR9AStj0Kx7aB5v3_FlYTu5g5SAy7famdzerYa-rJyrXqs-HsH6UnkeMU_Bg74j/s1600/Turkey_to_israel_pipes.gif" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgpO7HG7u0IGgmXnWq4Csw1ZIyyzw4E412nVrgc2ES36Yf3Hr2OgV1HfiMPBm1GjfEz9INtZ3TegPE2-QR9AStj0Kx7aB5v3_FlYTu5g5SAy7famdzerYa-rJyrXqs-HsH6UnkeMU_Bg74j/s1600/Turkey_to_israel_pipes.gif" /></a></div><div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">The extension of the deadline would give CYPRUS more time to lure in additional investors, which it desperately needs. TURKEY is hoping to send these potential investors a message: Explore in CYPRUS, get kicked out of TURKEY. </span></div><div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">CYPRUS is divided along GREEK-CYPRIOT and ethnic TURKISH lines, with the GREEK CYPRIOTS controlling two-thirds of the Mediterranean island nation. The GREEK-CYPRIOT Republic of CYPRUS became an EU member in 2004, but TURKEY only recognizes the breakaway north. TURKEY has warned CYPRUS against any unilateral move to explore for oil and gas offshore CYPRUS, maintaining that TURKISH CYPRIOTS should have equal rights to these resources. </span></div><div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;"><br /></div><div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;"><span style="color: #cc0000;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">TURKEY IS CONCERNED OF THE POSSIBILITY THAT NOBLE ENERGY INC.’S ANNOUNCES BLOCK 12 AS COMMERCIAL VIABLE</span></b></span></div><div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;"><br /></div><div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;"><b><span style="color: #0b5394;"><u><span style="font-family: "Times New Roman","serif"; font-size: 12pt;">Background Information: </span></u></span></b></div><div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;"><span style="color: #0b5394;"><u><span style="font-family: "Times New Roman","serif"; font-size: 12pt;"><br /></span></u></span></div><span style="color: #0b5394;"> </span><div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;"><span style="color: #0b5394;"><b><span style="font-family: "Times New Roman","serif"; font-size: 12pt;">ENERGY HOTSPOT: EASTERN MED</span></b></span><b style="mso-bidi-font-weight: normal;"><span style="color: #943634; font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman"; mso-themecolor: accent2; mso-themeshade: 191;"></span></b></div><div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;"><a href="http://news-these-days.blogspot.com.ar/2012/04/complexity-of-eastern-med-energy-games.html"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">http://news-these-days.blogspot.com.ar/2012/04/complexity-of-eastern-med-energy-games.html</span></b></a><b style="mso-bidi-font-weight: normal;"><span style="color: #943634; font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman"; mso-themecolor: accent2; mso-themeshade: 191;"></span></b></div><div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;"><b style="mso-bidi-font-weight: normal;"><span style="color: #943634; font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman"; mso-themecolor: accent2; mso-themeshade: 191;"><a href="http://news-these-days.blogspot.com.ar/2011/12/energy-games-in-eastern-mediterranean.html">http://news-these-days.blogspot.com.ar/2011/12/energy-games-in-eastern-mediterranean.html</a></span></b></div><div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;"><b style="mso-bidi-font-weight: normal;"><span style="color: #943634; font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman"; mso-themecolor: accent2; mso-themeshade: 191;"><a href="http://news-these-days.blogspot.com.ar/2012/02/geo-strategic-dynamics-in-eastern.html">http://news-these-days.blogspot.com.ar/2012/02/geo-strategic-dynamics-in-eastern.html</a></span></b></div><div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;"><b style="mso-bidi-font-weight: normal;"><span style="color: #943634; font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman"; mso-themecolor: accent2; mso-themeshade: 191;"><a href="http://news-these-days.blogspot.com.ar/2012/08/turkeys-erratic-foreign-policies-all.html">http://news-these-days.blogspot.com.ar/2012/08/turkeys-erratic-foreign-policies-all.html</a></span></b></div><div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;"><br /></div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiDUaEJFiRMwePK5P8Gqu-R1LNNxDjE48Y2sDL3vjq4g2A-nul1y0NOvZqb5ngZB057lRbxp8ZQw8Tl5jH8MOugymMadQZ2n78b5XkCcoqvW4j5zZdSYHv0XXhmpJuZRq6ZAkwL2TjgHvyr/s1600/cyp_oil_and_gas_drilling_72.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiDUaEJFiRMwePK5P8Gqu-R1LNNxDjE48Y2sDL3vjq4g2A-nul1y0NOvZqb5ngZB057lRbxp8ZQw8Tl5jH8MOugymMadQZ2n78b5XkCcoqvW4j5zZdSYHv0XXhmpJuZRq6ZAkwL2TjgHvyr/s1600/cyp_oil_and_gas_drilling_72.jpg" /></a></div><div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">Eni is a key partner in three major TURKISH pipeline projects. The suspension appears to be centered on the Samsun-Ceyhan pipeline project, which will transport oil from RUSSIA and KAZAKHSTAN to TURKEY. </span></div><div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">It is unclear what will happen to Eni’s involvement in two other pipelines, the RUSSIAN-led South Stream  and Blue Stream gas pipelines, which run through the Black Sea to deliver RUSSIAN gas to TURKEY. Eni has a 20% share in the South Stream project, while Gazprom holds a 50% share.    </span></div><div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">In January , Eni and its partner—SOUTH KOREAN Kogas—signed an agreement to explore in the CYPRIOT part of the explosively rich Levant Basin. Total, Eni and Kogas plan to conduct seismic surveys later this year and drill their first wells in 2014. </span></div><div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">What’s really irked Turkey is Noble Energy Inc.’s (NBL) </span><a href="http://www.bloomberg.com/news/2013-03-26/cyprus-may-extend-offshore-gas-tender-to-attract-more-bids.html"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">plans to start drilling</span></a><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">an appraisal well in June and the possibility that it could announce commercial viability in its Block 12 before the end of this year. Noble thinks it’s block holds a minimum of 7 trillion cubic feet of gas. This is the development to watch closely, because commercial viability will be the tipping point for Ankara. </span></div><div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;"><br /></div><div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;"><span style="color: #cc0000;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">STRATEGIC SHIFT: TURKEY & RUSSIA VERSUS CYPRUS & EU</span></b></span></div><div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;"><br /></div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh236yJ-0nipnkh5dqyNrh1G4Ntf-BiTeBYo2orsElKvcxlDFOdhyphenhyphenwNlcDGvypRZzQm5FaGXhWWVOtvgnedgaIYY2eE8scy63HAhcjiSwk2anZLnBA4RkTh1hctjDy5xDn-5L8yEQ0Rn2Lf/s1600/pipeline.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" height="320" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh236yJ-0nipnkh5dqyNrh1G4Ntf-BiTeBYo2orsElKvcxlDFOdhyphenhyphenwNlcDGvypRZzQm5FaGXhWWVOtvgnedgaIYY2eE8scy63HAhcjiSwk2anZLnBA4RkTh1hctjDy5xDn-5L8yEQ0Rn2Lf/s320/pipeline.jpg" width="291" /></a></div><div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">In the meantime, RUSSIA missed its chance to win a nice share in CYPRUS’ offshore exploration in return for a </span><a href="http://oilprice.com/Finance/the-Economy/Russian-Oligarchs-to-Involuntarily-Fund-Cyprus-Bailout.html"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">bailout package</span></a><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">. Cyprus wasn’t offering enough to make it worth RUSSIA’S while to anger TURKEY, which it needs for its massive pipeline projects. So far, RUSSIA’S Gazprom has steered clear of Cypriot waters. </span></div><div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">What this comes down to is that a choice has to be made between CYPRUS and TURKEY. The EU will stick with CYPRUS for now, and RUSSIA will keep its pipeline plans secure in Turkey.</span></div><div class="MsoNormal">Via oilprice</div>

CYPRUS AND TURKEY

TURKEY TAKES ADVANTAGE OF CYPRUS DESPERATION As the geopolitical game over Mediterranean hydrocarbons heats up, TURKEY has suspended energy...

CYPRUS AND TURKEY

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