Turkey won't privatize boron reserves, energy minister says

Photo:  Turkey won't privatize boron reserves, energy minister says  / Turkey

Turkey is not going to privatize its boron reserves and the Turkish Petroleum Corporation (TPAO) will be offered at an initial public offering, Turkey's Energy Minister Taner Yildiz said World Bulletin reported

Turkey currently relies heavily on foreign energy resources like natural gas and oil, which drives almost half of all electricity production in Turkey and costs up to $60 billion a year. An efficient use of energy is the preferred government policy.

The United States and Turkey are the world's largest producers of boron. Boron is used in the production of glass, ceramics, detergents, insecticides, semi-conductors, and magnets.

TPAO is Turkey's sole national oil company. In recent years, the company has undertaken a number of oil and natural gas exploration projects as part of its mission to develop domestic and international resources and meet the continuously increasing demand for oil and gas in the country.

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