Energy

OPEC stuck to its forecast for strong growth in global oil demand in 2024 on Tuesday and said it would switch to focus on projected demand for OPEC+ crude, reflecting that ...

The first results of the cost-benefit study requested by the energy ministry for the Greece-Cyprus Great Sea Interconnector electricity project are anticipated to be unveiled by the end of May, ...

Global petrol demand growth could halve in 2024, squeezing second-half refinery margins, analysts said, driven by a shift to electric cars in China and the United States and a return to ...

Oil futures climbed on Monday after Saudi Arabia hiked June crude prices for most regions and as the prospect of a Gaza ceasefire deal appeared slim, renewing fears the Israel-Hamas ...

Cyprus has rejected the new proposal by consortium Chevron, NewMed Energy, and BG Cyprus (Shell) to develop the ‘Aphrodite’ natural gas field in block 12 of the exclusive economic zone (EEZ), ...

Saudi Arabia’s real gross domestic product (GDP) decreased 1.8 per cent year-on-year in the first quarter, flash estimates by the government’s statistical authority showed on Wednesday, as a decline ...

President Nikos Christodoulides met with Eni CEO Claudio Descalzi in Nicosia on Tuesday, where they discussed prospects over gas findings. According to government spokesman Konstantinos Letymbiotis, the two reviewed the ...

Total sales of petroleum products in Cyprus amounted to 108,200 tonnes in March, marking a decrease of 3.2 per cent compared to the same month of the previous year, according to a ...

Oil prices fell in early Asian trading on Monday, erasing gains from Friday as Israel-Hamas peace talks in Cairo eased fears of a wider conflict in the Middle East and ...

A spike in power usage from artificial intelligence (AI) data centers could significantly boost natural gas demand in the second half of the decade, analysts at investment banker Tudor Pickering ...

Cyprus is a “reliable business centre”, Commerce Minister George Papanastasiou said on Saturday. Speaking at a business conference in New York, he said the island “has remained stable over the ...

The Ministry of Energy has announced a call for proposals under the grant scheme for energy upgrading and boosting the competitiveness of large businesses, totalling €17 million, funded by the European ...

Cypriot consumers should not pay anything for the Great Sea Interconnector until the project is up and running, the energy minister asserted on Monday. “It’s a matter of principle,” ...

Oil prices fell by more than 1 per cent on Monday, as the market focus switched to fundamentals after Israel and Iran played down the risk of an escalation of hostilities ...

The Cyprus Chamber of Commerce & Industry (Keve), in collaboration with the Ministry of Energy, Commerce, and Industry, has announced a call for proposals for the EENergy project, offering grants ...

By Robert Morgan The Electricity Authority of Cyprus (EAC) has discovered two illegal installations of photovoltaic systems, it emerged on Thursday. The offending sites are commercial properties, EAC representative Christina ...

Cyprus has seen “one of the largest increases” in its share of renewable energy sources of any European Union member state, Energy Minister George Papanastasiou said on Thursday. He was ...

Oil prices fell to a three-week low on Thursday, extending losses on hopes of easing tensions in the key producing region of the Middle East, while investors turned their focus ...

Oil prices are up around 16 per cent so far this year near $90 a barrel, with supply worries high given escalating Middle East tensions and tit-for-tat attacks on energy infrastructure between ...

Energy Minister George Papanastasiou is currently in Abu Dhabi to participate in the 14th Session of the Assembly of the International Renewable Energy Agency (IRENA), scheduled to take place from ...

The International Energy Agency (IEA) trimmed its forecast for 2024 oil demand growth on Friday, citing lower than expected consumption in OECD countries and a slump in factory activity. The Paris-based ...

The Great Sea Interconnector project will offer triple benefits to Cyprus, with better energy security, a ‘green mix’ of power generation and cheaper energy for all consumers, the Greek Independent ...

The management of Greece’s Independent Power Transmission Operator (Admie) will be in Cyprus on Tuesday to hold talks with representatives of the energy ministers of Cyprus and Israel. They ...

New materials and designs can make a leading source of renewable energy both greener and cheaper. By Tom Cassauwers At first glance, the wind-turbine tower that rises from the green ...