The current deal to support prices reduced production by 1.2 million barrels per day starting from January 1 for six months, and will now run into next year with the extension.
Yavuz will reach a drilling depth of 3,300 metres at Turkish Republic of Northern Cyprus Bay of Gazimagusa, says Turkey's Energy and Natural Resources Minister Fatih Donmez.
Security crises in the Persian Gulf will become increasingly high-stakes as the lack of communication between Iran and the US and its allies can trigger misinformation, perceived threats and potentially military confrontation.
Gonen Segev, energy minister from 1995 to 1996, made contact with Iranian officials at the Iranian embassy in Nigeria in 2012 and he also visited Iran twice for meetings with his handlers.
Except for Qatar, the oil producing gulf countries are adamant on raising oil prices to fill budget deficits.
The tiny, energy-rich Gulf Arab nation of Qatar says it will withdraw from the Organization of the Petroleum Exporting Countries (OPEC) in January.
Senior Democratic Senator Ron Wyden calls on US intelligence officials to issue a public report on the killing of Saudi Arabian journalist Jamal Khashoggi.
Saudi Crown Prince Mohammed bin Salman smiled and took selfies with cheering delegates during his 15-minute appearance on the opening day of the three-day Future Investment Initiative amid the crisis in the kingdom over Jamal Khashoggi's killing.
Turkish President Recep Tayyip Erdogan will discuss regional developments and Ankara's bilateral relations with Doha amid a blockade of Qatar by its Gulf neighbours.
During Turkish President Recep Tayyip Erdogan's one-day visit to Warsaw, aimed at boosting trade between the two countries, Polish President Andrzej Duda expressed support for Turkey's membership to the EU.
Turkish and Russian businesses are working to boost economic ties between the two countries with Russia lifting restrictions on Turkish exports and visa-free travel for Turkish citizens.
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