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Developments in the Turkish petroleum market

The pick-up in oil prices, the offshore disaster in the Gulf of Mexico, a shifting focus from downstream to upstream and elaborate discussions on shale reserves have been the global headlines in 2010... But the issues topping the agenda in the Turkish petroleum market were very different.

In 2011, the world will remain focused on the accumulating evidence that the economic recovery is strengthening taking oil prices to pre-crisis levels, and behavioural traits in the OPEC world. The IOCs’ focus will be further favouring the upstream, whereas the NOCs will be strengthening their grip on resources. Hot topics in the Turkish market, on the other hand, will focus more on the regulatory front than on structural concerns about demand and supply.

We hope our comments and outlook will help illuminate your future plans targeting this unique market.