Energy

Oil refiners in Asia, Europe and the United States are facing a drop in profitability to multi-year lows, marking a downturn for an industry that had enjoyed surging returns post-pandemic ...

Cyprus’ electricity regulatory authority (Cera) on Friday approved cabinet’s decision over the future of the Great Sea Interconnector project, adopting the requests of Greece’s Independent Power Transmission Operator (...

The European Investment Bank (EIB) is still open to investing in the electricity interconnector project between Cyprus and Greece, its Vice President Kyriacos Kakouris said on Friday. He stressed the ...

Italian energy engineering group Saipem (SPMI.MI) said on Wednesday it had won an offshore contract worth around $2 billion for the development of the Marjan oil field in Saudi Arabia. ...

Oil fell on Wednesday after two sessions of gains after an industry report showed increasing US crude and fuel inventories, offsetting rising tension in the Middle East and the potentially ...

Good news on the Great Sea Interconnector (GSI) front, but priority must now shift to implementing measures that will bring electricity prices down between now and 2030, when the GSI is ...

Oil prices rose more than 1 per cent on Thursday, extending a rebound spurred by concern over Hurricane Francine’s impact on US output, though a gloomy demand outlook capped gains. ...

Fuel prices across Cyprus appear to be distorted in 2023 – 2024, with significant price differences across cities, the Cyprus consumers association said on Wednesday. Nicosia in particular appears to have the biggest ...

Oil futures jumped in Asian trading on Monday as a potential hurricane system approached the US Gulf Coast, and as markets recovered from a selloff following weaker-than-expected US jobs data ...

Artificial intelligence could hurt oil prices over the next decade by boosting supply by potentially reducing costs via improved logistics and increasing the amount of profitably recoverable resources, according to ...

The Great Sea Interconnector project will go ahead “if its financial viability is ensured”, Greek Prime Minister Kyriakos Mitsotakis said on Sunday. Speaking at the Thessaloniki international fair, he said, “...

Disy leader Annita Demetriou and her predecessor Averof Neophytou on Friday exchanged differing opinions over the Great Sea Interconnector. Appearing on CyBC just minutes apart, Neophytou first on the radio ...

OPEC+ is discussing delaying an oil output increase scheduled to start in October after oil prices hit their lowest in nine months, four sources from the producer group told Reuters ...

The government on Thursday decided to push back its decision to next Tuesday over the regulatory framework of the leg of the Great Sea Interconnector project connecting Cyprus to Crete. ...

The Cyprus Chamber of Commerce & Industry (Keve) on Thursday announced that the Shorewinner project, a pioneering effort to advance skills in the offshore renewable energy sector, is set for ...

The London Court of International Arbitration has reserved its decision over the €69 million claim filed for the Vasiliko liquified natural gas (LNG) terminal, it was reported on Thursday. According to ...

Cabinet’s final decision over the regulatory framework of the leg of the Great Sea Interconnector project which runs between Crete and Cyprus was delayed for another day on Wednesday, ...

Oil prices fell on Wednesday, extending a plunge of more than 4 per cent the previous day and hovering at their lowest since December, on expectations that a political dispute halting ...

A European Union directive by which a set percentage of energy used by member state residents must be derived from an interconnected source, means Cyprus must press ahead with the ...

The government on Tuesday was forced to deny media reports it has taken any final decisions hidden from the public eye regarding funding for the controversial electricity interconnector project. “No ...

Cyprus saw an increase in the sales of petroleum products during July, which totalled 134,484 tonnes, marking a 4.6 per cent increase compared to July 2023. According to a report released on Tuesday ...

Chevron on Tuesday confirmed that on August 30, it resubmitted a revised development plan for the Aphrodite gas field to the energy ministry for evaluation. The confirmation comes a day after ...

Turkish state energy company Botas and British oil major Shell (SHEL.L) will sign a long-term LNG agreement on Monday, the Turkish Energy Ministry said. It said Energy Minister Alparslan ...

The government is in talks with a number of stakeholders over the Great Sea Interconnector project, with a key aim of ensuring reduced electricity prices to the public, President Nikos ...