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PetrusIraq and Turkey have signed a one-year agreement for the transportation of Iraqi oil through the Kirkuk-Ceyhan pipeline amid unstable supplies via the Strait of Hormuz. The document provides for the export of up to 750,000 barrels per day and paves the way for broader cooperation in energy and other sectors.
PetrusBP has agreed to sell a 15% stake in its subsidiary that manages oil and gas fields in the Kirkuk region to the Turkish state company Turkish Petroleum. This deal expands BP and TPAO’s cooperation in Iraq and strengthens their strategic partnership.
RatioThe Central Bank of Turkey has revised its inflation forecasts due to geopolitical instability and rising prices, opting not to publish forecast ranges. The new target for the end of 2026 is 24%, while expectations for the end of the current year are approaching 26%.
RatioBank of America expects that the Central Bank of Turkey will keep the effective funding rate at 40% during the meeting on April 22. Economists do not anticipate any changes, but the possibility of a rate hike remains relevant amid ongoing inflation risks.
RatioThe Central Bank of Turkey has lowered its weekly repo rate for the fourth consecutive time, responding to a slowdown in inflation and an unexpected drop in food prices. However, inflation still remains above the government's target level.