Energy

Suggestion comes after damning Audit Office report on endless delays The project team for the liquefied natural gas (LNG) terminal at Vasiliko has recommended that Cyprus halt further payments to ...

Unions representing workers at the Electricity Authority of Cyprus (EAC) said on Monday their members will hold a vote at the end of the month on possible industrial action, including ...

The north’s electricity authority Kib-Tek paid the Electricity Authority of Cyprus $19 million (€17.4m) to cover the north’s energy shortfalls, Kib-Tek employees’ trade union (El-Sen) chairman Ahmet Tugcu said ...

Oil prices lost more ground on Monday as economic headwinds pressured the global oil demand outlook and offset geopolitical concerns in the Middle East and an attack on a Russian ...

The audit office said on Friday it was going to report Cyprus’ long-delayed project for the creation of a liquefied natural gas arrival terminal at Vasiliko to the European Prosecutor’...

Cyta has put into operation the 4th photovoltaic system in its buildings, this time at its head offices, it announced on Friday. At the same time, the installation of photovoltaic ...

Success was declared during drilling for natural gas in the “Kronos 2” reservoir in block six of Cyprus’ Exclusive Economic Zone (EEZ) on Friday, with the flame above the reservoir having ...

A “new” electricity generator delivered to the north by Turkish energy company Aksa is actually 25 years old, it has been claimed. The generator is due to be installed at the ...

Oil prices rose by around 1 per cent on Tuesday, as investors weighed the impact of tensions in the Middle East. Brent crude futures gained 81 cents, or about 1.04 per cent, to $78.96 ...

EU Finance Ministers, including Cypriot minister Makis Keravnos, have said that gradual recovery is expected in 2024, but have warned that this will be in an environment of heightened uncertainty and ...

The government will decide by the end of the month whether the Cypriot state will invest in the mooted Great Sea Interconnector project, Energy Minister George Papanastasiou said on Tuesday. ...

Energy Minister, George Papanastasiou, said that integrating RES into conventional power generation was vital for reducing energy costs. “The way ahead is now green,” said Papanastasiou explaining that “the cost ...

Citi Research on Friday lowered its Brent price forecasts for this year and 2025, citing oversupply concerns but expects prices holding above $70 per barrel in 2024 as OPEC+ keeps global oil markets “...

Global energy will continue to be driven by security concerns in 2024, ahead of climate goals, as wars, conflicts and threats to supplies continue. Renewable energy systems (RES) will carry on ...

Several Saudi Arabian companies released regulatory filings late on Wednesday and Thursday saying that state energy company Saudi Aramco’s decision to raise feedstock and fuel prices for this year ...

The cabinet on Thursday announced the new board of directors at the Natural Gas Public Corporation (Defa), the state-run entity with the exclusive rights to import and distribute natural gas ...

Oil prices rose on Thursday, adding to solid gains in the previous session on persisting concerns over Middle Eastern supply following disruptions at a field in Libya and heightened tensions ...

Oil prices were little changed in Asian trade on Wednesday after sharp moves earlier in the week, as markets weighed concerns about the US economy against potential supply disruptions from ...

Oil prices jumped in the first session of the New Year, boosted by the chances of Middle East supply disruptions after a naval clash in the Red Sea, as well ...

Oil prices are set to end 2023 about 10 per cent lower, the first annual decline in two years, after geopolitical concerns, production cuts and global measures to rein in inflation triggered ...

Qatar has agreed to supply Shell (SHEL.L) in Singapore with up to 18 million barrels of oil a year for five years in what the Gulf state’s energy company ...

Oil prices steadied on Thursday after falling sharply in the previous session, as concerns eased about shipping disruptions along the Red Sea route even as tensions in the Middle East ...

Half of Russia’s oil and petroleum exports in 2023 will have gone to China while India’s share has risen in two years to 40 per cent, Russia’s state news ...

The oil and gas industry went on a $250 billion buying spree in 2023, taking advantage of companies’ high stock prices to secure lower-cost reserves and prepare for the next upheaval in ...