Turkey plans its exploratory drilling in the Eastern Mediterranean on October 29, it was reported on Monday. Ankara said last week it’s drilling vessel Fatih had already arrived onsite and that training would be conducted with drilling at the end of the month. Necdet Pamir, the Chairman of the Energy Commission of the Republican People’s Party (CHP) and also the chairman of the Committee on Energy Policies of the Chamber of Petroleum Engineers of Turkey, told Sputnik on Monday that the start of exploratory drilling planned for October 29 had a symbolic meaning. Source Cyprus Mail
Italy expects debt to rise to about 160% of gross domestic product by the end of this year despite a smaller-than-forecast contraction of the economy, officials familiar with ongoing budget talks said. The new figures, which are provisional and still subject to change, see the economy expanding 6% in 2021, the officials said, asking not to be named discussing confidential deliberations. Source Bloomberg Quint
It is less than two months since U.S. President Donald Trump travelled to Texas to declare that the U.S. energy industry, laid low by this year’s oil price crash, was back on its feet. “We’re OK now,” the president told the assembled crowd.
But bankruptcy numbers released this week tell a different story. Another 16 upstream U.S. oil and gas companies — producers and service providers — hit the wall in August, the same number as in July, according to law firm Haynes and Boone. Source Financial Post
The Bank of Italy said Italy’s public debt hit a new high of 2,560.5 billion euros in July, up 29.9 billion with respect to June. Source Ansa
