Russia has restarted limited oil loadings at its Black Sea port of Novorossiysk after a drone attack earlier this week forced a full suspension.
Trillion Energy International is pursuing a potential sale of its stake in a Black Sea natural gas project while advancing new exploration activity in Türkiye, according to a corporate update released alongside its annual shareholder meeting.
Storms in the Black Sea and alerts of potential drone attacks at a key loading terminal are slowing the ramp up of crude oil production at Kazakhstan’s giant Tengiz oilfield, industry sources told Reuters on Wednesday.
Turkey has discovered 75 billion cubic meters of natural gas worth $30 billion dollars in the Black Sea, according to President Recep Tayyip Erdogan.
Kazakhstan’s GDP is expected to grow at a moderate pace in the next two years, driven by oil and consumer spending.
Inflation is likely to remain above target in the short term, but is projected to decline over time.
The World Bank recommends reforms to improve the effectiveness of monetary policy and reduce the budget deficit.