Energy

Oil prices edged higher on Monday, paring earlier losses, as traders expect the market to absorb another large output hike by OPEC+ in September, while worries about disruptions to Russian ...

ADNOC Drilling (ADNOCDRILL.AD), a unit of Abu Dhabi’s state oil giant, reported a 19 per cent rise in second-quarter profit this week, supported by strong performance in its oilfield ...

Two separate studies conducted by two “serious and reliable” organisations show that the Great Sea Interconnector project “is not sustainable”, Finance Minister Makis Keravnos said on Friday. Speaking to Politis ...

Oil prices fell nearly 1 per cent on Wednesday as investors awaited developments on US President Donald Trump’s tighter deadline for Russia to end the war in Ukraine and his ...

There are strong echoes of Donald Trump’s failed trade deal with China from his first term as US president in the framework agreement reached with the European Union. Trump ...

Cyprus’ industrial sector relied primarily on oil and petroleum products and electricity in 2023, which together accounted for over half of its total energy use, according to Eurostat figures released on ...

Electricity demand in Cyprus exceeded all expectations on Wednesday afternoon, reaching a new yearly high of 1,211 megawatts at 2:15pm, according to updated figures from the Transmission System Operator (TSO). This ...

Oil prices declined for a third consecutive session on Tuesday on concerns the brewing trade war between major crude consumers the United States and the European Union will curb fuel ...

The finance ministry has asked “reasonable questions” regarding the Great Sea Interconnector project in its letter to the energy ministry, Energy Minister George Papanastasiou said on Tuesday. Speaking to CyBC ...

Google has agreed to secure as much as 3 gigawatts of US hydropower in the world’s largest corporate clean power pact for hydroelectricity, the company has announced, as Big Tech ...

The finance ministry has “absolutely refused” to pay any money to Greece’s independent transmission system operator (Admie) for the Great Sea Interconnector project, on account of the fact that ...

The EU commissioner for energy has dubbed the Great Sea Interconnector (GSI) a project of “the utmost strategic significance” for Europe, according to media reports on Thursday. In an interview ...

Oil prices edged up on Thursday on signs of easing trade tensions, stronger than expected economic data from the world’s top oil consumers and renewed risks in the Middle ...

Cyprus recorded one of the smallest declines in energy use across the EU services sector in 2023, as the bloc’s overall consumption fell by 1.9 per cent compared with the previous ...

The cost of transitioning to a net-zero emissions economy in Cyprus depends heavily on the chosen policy mix, particularly regarding how carbon tax revenues are used, according to research conducted ...

Oil prices fell by about 1 per cent on Wednesday, as signs of stronger Chinese crude consumption were outweighed by investor caution about the wider economic impact from US tariffs. Prices ...

The finance ministry has refused to greenlight the payment of €25 million to Greece’s independent transmission system operator (Admie), which form part of the government’s obligations regarding the Great ...

OPEC, which along with its allies is ramping up oil output, expects “very strong” oil demand in the third quarter and a tight supply-demand balance in the following months, its ...

The Chinese-led consortium which formerly held the contract to build a liquefied natural gas (LNG) import terminal hit back on Monday at reports that it had delivered a ship with ...

Oil prices rose on Monday to their highest level in three weeks, as investors eyed further US sanctions on Russia that may affect global supplies, while more oil imports by ...

America’s largest power grid is under strain as data centers and AI chatbots consume power faster than new plants can be built. Electricity bills are projected to surge by ...

OPEC+ oil producers are set to approve another big output boost for September as they complete both the unwinding of voluntary production cuts by eight members and the United Arab ...

Matters became heated between Energy Minister George Papanastasiou and the electricity authority’s scientific staff’s trade union Sepaik leader Marios Pappoutis at the union’s annual general meeting on ...

There will be “no immediate exploitation” of the ‘Pegasus’ natural gas field, Energy Minister George Papanastasiou said on Saturday. Addressing the electricity authority’s scientific staff’s trade union Sepaik, ...