Risk Management / Atilla Filiz

Mr. Atilla Filiz handles risk management in his article. First, he desribes the etymological context of the word “risk”, which is derived from Italian word, “risco”. “Risk” means “possibility of loss or injury”, according to the dictionaries. There is also another approach towards risk, mentioning that “risk is the sum of opportunities and threats”.

Risk management is the evaluation of a person, a company or a project’s uncertainities in reaching their targets with an effective methodology. Then Filiz describes briefly the types of risks. In case of some risks are not managed effectively, the corporations come across with various risks,such as market risk, environmental risk and reputation risk.

Following those explanations, Filiz mentions about risk management processes: Planning, determining and analyzing (qualititive and quantitive) of risks.

As a result, the companies getting risks will be able to survive in the global markets. Decision comes from knowledge. The strong one is seeing the risks and renewing itself continuously.


World Energy 2004 / Behçet Yücel

Mr. Behçet Yücel summarizes the situation of world energy in 2004.
Yücel clarifies that world energy consumption in 2004 started to increase and topped in last 20 years. Oil prices went over USD 60/barrel unexpectedly in 2005. Nobody knows how long will this increase go on. Reputable investors, banking analysts and economists think that oil prices over USD 100/barrell is not so faraway . Some of them even forecasts that it would reach up to USD 300/barrell by 2015.
Another significant development comes from China. The Chinese people want to have high living standards and it seems impossible to stop those demands. Thanks to China, coal became a major energy resource. To tell the truth, China and other Far Eastern countries have no way but to use coal to realize their economical development.
It is no secret that coal consumption would go higher. The only solution to harmonize coal consumption and carbon dioxide is to provide carbon sequastration.
As a result, a country’s worldwide leadership is needed to solve problems regarding energy business.

















Letter from Ankara / Tuncay Derman

Decisions of ignorance worth billions of Dollars

Mr. Tuncay Derman reveals his views about a report of full of misinformation prepared by energy bureaucrats with lack of knowledge. This report was on the projects built on contractual basis and a magazine of strategy made this report a cover story.
He disproves the statements of that report explaining antithesis extracting from the original report.
As a result, Mr.Derman asserts that both the authors of the report and editors of the magazine have misinformation about energy business and they are trying to manipulate public opinion. So, Derman concludes that those so-called experts own decisions of ignorance worth billions of Dollars.