Turkey has passed Norway as the largest producer of oil in Europe. According to Bloomberg it fielded 26 drilling rigs at the end of 2012, and the Turkish Energy Ministry says that number has already increased to 34 rigs. Spending on oil and natural gas exploration last year was at $610 million, compared with $42 million a decade earlier.This rush to find new sources of hydro carbon is fuelled by the rapidly expanding economy. Turkey’s economy is growing at 3.5% a year, around twice as fast as most advanced economies, and second only to China.…
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