AYO unknown

Could explain downtrend for AYO

  1. 1,357 Posts.
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    How is everyone this morning.
    Found this on Oil & Gas and thought it might help explain why AYO is having such a hard time selling their gas to new customers.
    Turkey cuts gas prices Ankara, 4 October, OGT?Turkey's Energy Ministry said it was reducing natural gas prices for sales to urban distribution companies by six percent and for industrial customers by five percent after negotiating a cut in purchase prices from Russia.

    The move comes a month before elections.

    Turkey is in the process of implementing a US$16 billion IMF recovery program.

    Energy Minister Zeki Cakan said in a statement the price cuts followed Turkey's agreement on a nine percent cut in the price it pays Russia, its main gas supplier, for natural gas.

    Turkey has a surplus of natural gas because of agreements signed with Russia and Iran that set the amount it purchases above its actual needs.

    I tried to post it on the AYO board at OZeStock but they would not except my login name. Could someone who reads that board, cut & past this over there as they will find it interesting also. regards The Tinhopper.
 
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