Energy Ministry

With farmers across Greece planning more rallies and motorcades that disrupt traffic on major highways and thoroughfares in protest at rising production and operating costs, the government on Tuesday vowed to address their concerns and called for dialogue.

The Bulgarian National Assembly passed a resolution, greenlighting the potential takeover of liabilities amounting to BGN 1.6 billion from Toplofikacia Sofia, the primary district heating company in the capital city. These outstanding debts are owed to both the Bulgarian Energy Holding and state-owned gas supplier Bulgargaz.

State-owned energy companies Botaş and TPAO will participate in oil and natural gas projects in foreign countries in Africa, the Caucasus region, and particularly in the Middle East, Energy Minister Alparslan Bayraktar has said.

The utilization of renewables and upgrading transmission infrastructure for more renewables are Türkiye's major areas of focus, Energy Minister Alparslan Bayraktar has said, stressing that the country plans to invest $10 billion in the grid by 2030.

The intention of Public Power Corporation to withdraw a total of 41 power generation units from Crete, the Cyclades and the non-interconnected islands from end-2023 up until 2028 sounded the alarm at the Ministry of Environment and Energy and the competent authorities.

The Energy Ministry estimates that the efficiency projects to be implemented in public buildings have the potential to generate savings up to 40 billion Turkish Liras between 2024 and 2030, which is equivalent to the cost of building a large dam.

The National Program for the Development of Offshore Wind Farms has created high expectations.

The rapid development of renewable energy sources and the strong interest in energy transition projects are driving the Greek electrical system to its limits, technically and economically, at surprising speed.

Saudi Arabia and Russia have agreed to extend their voluntary oil production cuts through the end of this year, trimming 1.3 million barrels of crude out of the global market and boosting energy prices.

The dual announcements from Riyadh and Moscow pushed benchmark Brent crude above $90 a barrel in trading yesterday, a price unseen in the market since November.

Around $10 billion has been invested in solar power over the past year triggered by a new regulation, Mustafa Yılmaz, head of the Energy Market Regulatory Authority (EPDK) has said.