Turcas Petrol to enter energy market in Iran


May 5, 2016





May 5, 2016




Turkish energy company Turcas Petrol is looking at entering the Iranian energy market through investments in oil, gas or renewables, following the lifting of most of the sanctions against the Islamic Republic. “We believe we must definitely be in Iran,” company’s chief executive Batu Aksoy told journalists, as reported by Hürriyet Daily News. At a time when global growth is slowing, such a market can be a driving force, both for the world and for Turkey, he added.

At a time when growth in the world is stalling, a market like Iran could be a driving force, the company’s chief executive said.

Turcas is interested in teaming up with a local company but is also open to cooperating with Turkish firms, Aksoy said. “We have established networks before the lifting of sanctions. Now the embargo is lifted, they are more sympathetic to doing business with us,” he stated.

Supplying natural gas from Iran, projects for oil and its derivatives, as well as renewable investments, are all on the agenda, he said.

Related Articles

Solar power generation to increase ten times in Montenegro energy balance

Solar power generation to increase tenfold in Montenegro next year

25 November 2022 - According to the estimate in the Energy Balance of Montenegro for 2023, electricity production will drop 12.63% this year

Austria can reach 1,2 GW with additional solar in 2022

Austria set to add over 1 GW in solar power in 2022

25 November 2022 - Austria is on track to install more than 1 GW in photovoltaics this year and as much as 1.5 GW every year

Four times more installed power plants in North Macedonia in 2022

North Macedonia’s regulator issues 200 licenses for renewable electricity plants in 2022

25 November 2022 - The Energy and Water Services Regulatory Commission issued 200 licenses this year for electricity production from renewable sources

Albania applications solar power 151 MW

Albania receives applications for solar power projects of 151 MW in total

25 November 2022 - Applications for solar power projects sent to the Ministry of Infrastructure and Energy of Albania include one of the largest ones so far, for 93 MW