Iran has announced the discovery of significant oil and gas reserves within the Pazan field, which is expected to alleviate the country's energy challenges. Iran’s Oil Minister Mohsen Paknejad said that the new reserves in southern Iran contain at least 200 million barrels (mbbl) of crude oil and an estimated ten trillion cubic feet (tcf) of gas. With a projected 70% recovery rate, recoverable gas volumes are estimated at around 7tcf. The exploration activities resumed after an eight-year pause, with ...

Russian President Vladimir Putin signed an order allowing faster sales of state-owned assets in response to international sanctions https://t.co/7CbmbkwKwC ...

Core Insights - Turkish Airlines has finalized a deal with Boeing for up to 225 aircraft, including 150 confirmed orders and options for 75 more, to be delivered between 2029 and 2034 [3][4] - The deal follows a significant meeting between Turkish President Erdogan and US President Trump, which has raised expectations for the lifting of US sanctions on Turkey [3][9] - Turkish Airlines aims to transition its fleet to next-generation aircraft by 2035, supporting an average annual growth rate of 6% [5] Company Developments - The confirmed orders include 50 Boeing 787 Dreamliners with an option for 25 more, and 100 Boeing 737 MAX jets with an option for 50 more [5] - Turkish Airlines is also negotiating with Rolls-Royce and GE Aerospace for engines and maintenance services for the Dreamliners [5] - This Boeing deal follows a previous announcement by Turkish Airlines in December 2023 regarding a 355-plane order from Airbus [6] Industry Context - The deal comes amid ongoing geopolitical tensions, particularly regarding Turkey's purchase of the Russian S-400 missile defense system, which led to US sanctions [4][8] - Turkey is a significant trading partner for Russia, with $52 billion in exchanges last year, primarily in fossil fuels and electronics [10] - The US has been pressuring Turkey to cease its oil purchases from Russia as part of broader sanctions against Moscow [9][10]