Economy of Asia

A first cargo of around a million barrels of crude oil is to arrive this week at the Romanian port of Constanta, marking the return of Iran to the European market after years of international sanctions against Tehran. 

A further three million barrels are expected to be shipped to Spain and other European ports for France's Total Oil, according to media reports. 

Türk Telekom has said it took the first step in supporting the domestic production of 4G (dubbed "4.5G" in Turkey) technologies, and placed the first order for the 4.5G National Base Station, ULAK, as Turkcell has said it launched talks to place an order for these local technologies. 

Bulgaria will launch a new tender for the construction of lots 1 and 2 of Hemus motorway, with the sections to be financed by the government budget rather than EU funds.

This was announced by Bulgarian Regional Minister Lilyana Pavlova in an interview for private NOVA TV on Tuesday.

Partners in Israel's Leviathan natural gas field could reach a final investment decision by the end of 2016 if government and regulatory approvals are granted as hoped, an official of the companies involved said.

That would enable the first gas from the field to reach markets by the last quarter of 2019, Bini Zomer, the Israel country manager for Noble Energy, said on Jan. 31.

Turkey's TAV Construction has been awarded the project to build a passenger terminal at Bahrain International Airport, which is undergoing a $1.1 billion upgrade, along with the Dubai-listed Arabtec. 

Located on a 220,000-square-meter area, the new terminal will increase airport capacity from 4 million to 14 million annually, said TAV in a written statement on Jan. 25.

Gazprom has announced it will scrap a major tender for the construction of the Power of Siberia pipeline, which is to supply China with 38 bcm of gas over a period of thirty years.

The USD 2.1 B tender was a historic high for the Russian energy giant.

A tender will be held for the construction of a pipeline carrying natural gas from the northern Iraq to Turkey, in the eastern province of ??rnak on Feb. 9, 2016, Turkey's gas grid BOTA? announced on Dec. 28. 

The tender is scheduled to be held on 2 p.m. local time. 

Bulgaria and China have signed an educational exchange agreement to fully tap into the development potential of that specific sector of bilateral relations, the Foreign Ministry in Sofia said on Thursday.

The Industrial and Commercial Bank of China (ICBC) is likely to become the single company to make a binding offer th the Bulgarian Energy Holding (BEH) as the energy structure is looking for a loan of EUR 650 M to pay off debts.

Borsa Istanbul has become a hub for companies that generated more than $100 billion in profits between 2010 and 2014, its CEO said during the opening speech of the second International Borsa Istanbul Finance and Economics Conference on Oct. 1.