Energy

Petrolina (Holdings) Public Limited (PHL) has announced the completion of a €48.6 million deal to acquire ExxonMobil Cyprus. According to the announcement, this includes the company’s 68 Esso-branded service stations, marking ...

Oil prices drifted lower on Thursday after a surprise jump in US gasoline inventories, with investors focusing on this weekend’s OPEC+ meeting to discuss oil output policy. Brent crude ...

Petroleum product sales in Cyprus saw a 3.5 per cent increase in October 2024 compared to the same month in 2023, reaching 135,250 tonnes, according to a report released by the Cyprus Statistical Service. ...

Energy infrastructure company VTTI celebrated ten years of operations in Cyprus, marking a decade as a key player in the Eastern Mediterranean energy market. The milestone was highlighted in an ...

Oil prices edged higher in early trade on Tuesday after falling in the previous session as investors took stock of a potential ceasefire between Israel and Hezbollah, weighing on oil’...

Energy Minister George Papanastasiou on Friday expressed his hope that American multinational oil and gas corporation ExxonMobil’s decision to begin drilling for natural gas in block 5 of Cyprus’ Exclusive ...

Millions of British households will see energy bills tick up in January after regulator Ofgem said it would increase its domestic price cap by 1.2 per cent from January as volatile ...

Oil prices held steady on Friday, on track for a weekly rise of 5 per cent, as the Ukraine war intensified and Chinese imports were set to increase in November. Brent ...

ExxonMobil will drill a well offshore Cyprus in January in its pursuit of natural gas, a senior executive said on Thursday at an energy and geopolitics event in Nicosia. “We’...

OPEC+ will have little room to manoeuvre on oil policy when it meets in December: it would be risky to increase output because of weak demand, and difficult to deepen ...

PwC Cyprus, in collaboration with Multimarine Services Ltd, SignalGeneriX Ltd, and Theophrastus Research Institute, has been awarded Project Symbiosis by the European Defence Agency (EDA). Announced this week, the initiative ...

Oil prices held steady on Tuesday after the previous day’s rally, driven by a halt in production at Norway’s Johan Sverdrup oilfield, and as investors remained cautious amid ...

The 12th Energy Symposium, held at the Royal Hall in Nicosia, highlighted the urgent need for swift decisions and actions in Cyprus’ energy sector. The event, organised by FMW Financial ...

The 12th Energy Symposium tackled the energy crisis, regional turbulence, and the urgent global shift to renewables. Titled “The Big Decisions on Energy”, the event was held with the support ...

“Energy giants from Gulf states” are interested in possibly drilling for natural gas in Cyprus’ Exclusive Economic Zone (EEZ), President Nikos Christodoulides said on Friday. Addressing the Energy symposium in ...

The government pledged Thursday to tighten up procedures for granting state land intended for the construction of solar parks, aiming to make these practices “more transparent and meritocratic”. In a ...

Oil prices inched higher on Wednesday underpinned by signs of near-term supply tightness but held near their lowest in two weeks, a day after OPEC downgraded its forecast for global ...

OPEC cut its forecast for global oil demand growth this year and next on Tuesday, highlighting weakness in China, India and other regions, marking the producer group’s fourth consecutive ...

Two in three Cypriots place a high priority on adapting to climate change, according to the European Investment Bank’s (EIB) annual climate survey. “Climate change is an undeniable reality ...

American multinational oil and gas corporation ExxonMobil will next year begin drilling for natural gas under the sea off the coast of Cyprus, Energy Minister George Papanastasiou said on Friday. ...

French company Nexans is conducting a seabed survey as construction of the Great Sea Interconnector cable continues, Energy Minister George Papanastasiou said on Thursday. Speaking to the Cyprus News Agency ...

Oil prices ticked up on Thursday following a sell-off triggered by the US presidential election, as risks to oil supply from a Trump presidency and a hurricane building in the ...

Undersea surveys are progressing on the Cyprus-Greece Interconnector project, according to the chairman and CEO of the Greek Independent Power Transmission Operator (Admie) Manos Manousakis. Speaking at the Athens Investment ...

By Simone Tagliapietra and Cecilia Trasi  It has become clear that the European Union’s pursuit of a triple goal of decarbonisation, competitiveness and security requires better integration of the ...