Following several major oil discoveries in recent months, Turkey is optimistic about its energy potential. The country’s oil and gas company, Turkish Petroleum (TPAO), has accelerated its exploration activities in recent years, which has proven fruitful. Recent oil discoveries follow a major 2020 natural gas find in the Black Sea, which is expected to support the government’s goal of gaining energy independence. In December last year, Turkish President Recep Tayyip Erdogan announced the discovery of 150 million barrels of net oil reserves, with a value of around $12 billion. The reserves are located at the Gabar ... (full story)