Turkey's TPAO to begin acquiring shares in foreign companies, minister says

ReutersApr 13, 2026 6:35 PM

ANKARA, April 13 (Reuters) - Turkey's state-owned upstream oil and gas company TPAO will start acquiring shares in foreign companies as part of Ankara's plans to develop international partnerships to boost its energy exploration, Energy Minister Alparslan Bayraktar said on Monday.

Earlier, French oil major TotalEnergies TTEF.PA said it signed a preliminary agreement with TPAO to explore Turkey's Black Sea waters for hydrocarbons, marking the fifth similar accord signed by the Turkish firm with oil majors this year.

"Soon, we will turn a new page too. And that is this: as TPAO, we will enter yet another new area by buying shares of companies abroad," Bayraktar said without elaborating.

He said the agreement with TotalEnergies would allow the two companies to carry out exploration in Angola, adding Ankara also aimed to increase its operations in Libya and Pakistan in coming months.

Turkey has been pushing to develop its domestic resources via international partnerships, including with U.S. major Exxon, to boost security of supply and become a regional exporter.

Disclaimer: The information provided on this website is for educational and informational purposes only and should not be considered financial or investment advice.

Recommended Articles

Storage Chip Giant SanDisk Replaces TEAM to Join Nasdaq 100 Index, SanDisk Shares May Soar to $1,000

TradingKey — Last Friday, Nasdaq announced that memory chip giant SanDisk (SNDK) will join the Nasdaq 100 Index before the market opens on April 20, 2026, replacing Atlassian (TEAM).

Trump Blockade of Strait of Hormuz Drives Oil Price Surge, Will This Be Another TACO?

TradingKey - On Sunday (April 13), Donald Trump announced that following the breakdown of U.S.-Iran negotiations, the U.S. Navy will implement a naval blockade on Iranian ports starting Monday.

Up 20% in Five Days, Over 50% This Year: Why Was Marvell Technology Tapped by Nvidia?

TradingKey - Since April 2026, Marvell Technology (MRVL) has demonstrated sustained stock price strength. On April 10, the shares closed at $128.49, up 7.14% for the day. The stock has seen a cumulative gain of nearly 20% over the past five trading days, with an overall increase of 29.72% in April.

Musk’s XChat Is Coming to App Store, Meta, Apple and Finance World Are Trembling

Elon Musk’s XChat, the Western equivalent of WeChat, is set to launch on the App Store, issuing a direct challenge to giants such as Meta, Apple, and PayPal.

Microsoft Launches Its Own AI Models and Ditches OpenAI Dependence - Is MSFT Stock a Buy at $370?

Microsoft at $370 is a 17%-revenue-growth, 47%-margin, $625-billion-backlog business trading at a multi-year low valuation, because the market is scared of macro noise. The AI model releases this week prove the moat is deepening, not narrowing.

Featured Tools