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Turkey discovers energy resource in Black Sea, Erdoğan heralds ‘new era’: report

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Turkey has made an energy discovery in the Black Sea, most likely natural gas, two people with direct knowledge of the matter told Bloomberg on Wednesday.

The two officials spoke after President Recep Tayyip Erdoğan promised Turks “good news” on Friday that would usher in a new era for the nation.

He has also vowed to pursue energy exploration in contested Mediterranean waters that has triggered confrontations with the European Union.

The Turkish leader did not elaborate on what he intended to announce in two days but as he spoke the lira extended gains to trade as much as 0.9 percent higher versus the dollar, while the benchmark Borsa Istanbul 100 Index rose 2 percent.

Shares of refiner Türkiye Petrol Rafinerileri A.Ş., or Tüpraş, and petrochemical manufacturer Petkim Petrokimya Holding A.Ş. rose 8.1 percent and 9.9 percent, respectively.

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