Oil Is A Non Replenishable Source

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Since, oil is a non-replenishable source, it’s of immense value to Turkey and is also in great demand there. In Turkey, is among the main energy resources. The economy of this country was one of the fastest developing economies on the planet at more than 8% every year, and the oil utilization also, expanded with this monetary development. In year 2003 the demand of oil as energy source, saw an increase and reached from 637 kb/d (kilo barrel/day) to 670 kb/d in 2012 in Turkey. International Energy Agency TPES’s information states that in 2011 about 28% of the country’s total major energy supply is from petroleum. Turkey 's economy impeded in 2012 and developed at just a little more than 2% from the preceding year and also, approximate use…show more content…
First of all, what a company needs to pursue business in a particular country is the need or rather academic, demand of the goods or the product. Focusing on the fact that Turkey consumes a lot more of oil or liquid fuel than what it requires every year and depends mostly on import of oil, it’s clear that Turkey is in dire need of oil. Secondly, what the organisation needs is a positive business environment in all the aspects to do business. This positive environment is in abundance due to several reasons. As mentioned previously in this report, since Turkey is a distinct member of G20 country, OECD, NATO and is a democracy with moderate Islamic party in power; hence the country follows all the guidelines provided by these reputed organisations and obeys them diligently. Also in terms of regulations, there has been a new Petroleum Law which got authorization from May 30th, 2013 according to which, the restrictions on maximum acreage holdings for oil fields will not be in effect, which can prove to be an extremely crucial decision in favor of the investors in the sector. Subsequently, Turkey is developing at a very fast pace and so its infrastructure. It’s another positive aspect in favour of a company that there is available infrastructure needed for such high-tech based projects like refining and processing of the crude oil and petroleum. There is also ease of the
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