Energy

HSBC expects a big oil surplus of 1.7 million barrels per day (mbd) from the fourth quarter of 2025, and a surplus of 2.4 mbd in 2026, exacerbated by the return of OPEC+ barrels ...

The European Investment Bank (EIB) this week announced its commitment to provide €17.5 billion to support energy efficiency improvements across more than 350,000 small and medium-sized enterprises in Europe over the next ...

The contractual framework of the electricity market rules was signed on Friday, paving the way for the commencement of the commercial operation of the competitive electricity market. The contract allows ...

With Cyprus experiencing unprecedented growth in solar energy adoption, Operation and Maintenance services are becoming crucial for the island’s energy transition. Lighthief International, which offers operation and maintenance for ...

The Commission for the Protection of Competition (CPC) announced on Thursday it has launched a probe into practices distorting competition relating to the acquisition of ExxonMobil’s share capital by ...

US oil major Chevron (CVX.N) has submitted a bid to explore for natural gas in four blocks offshore Greece in a consortium with Greece’s Hellenic Energy (HEPr.AT), ...

OPEC+ surprised markets on Sunday with a pledge to accelerate the unwinding of output cuts, a move that appears risky in an already oversupplied environment but may have limited impact ...

Energy Minister George Papanastasiou on Tuesday met Egypt’s Petroleum Minister Karim Badawi for a “results-oriented discussion” regarding the two countries’ efforts to exploit natural gas from under the seabed ...

By Michele Kambas Cyprus has approached the United Arab Emirates for possible cooperation on an EU-financed subsea power cable linking Europe to the eastern Mediterranean region, it said on Monday, ...

The EU and Europe’s bio-based industries are tapping into the hidden potential of wood to replace fossil resources in the production of high-performance resins with a low carbon footprint. ...

Cyprus’ energy market will be opened up to private companies on October 1, the energy regulatory authority (Cera) confirmed on Friday. It said the move will “mark a new era in ...

The former contractor for the liquefied natural gas (LNG) project at Vasiliko on Thursday laid the blame squarely on the Cypriot side, accusing it of incompetence and of often acting ...

The European chief public prosecutor’s office (EPPO) on Thursday confirmed that it had launched an investigation into the Great Sea Interconnector project, which has been planned to link the ...

The anti-corruption authority on Thursday corroborated attorney-general George Savvides’ position that he never received three “corruption cases” from it regarding alleged irregularities at the Vasiliko natural gas (LNG) import terminal. “...

Greek Deputy Prime Minister Kostis Hatzidakis on Wednesday called on the Cypriot government to “clarify its position” over the Great Sea Interconnector project. The project, if completed, will connect the ...

Oil prices rose 1 per cent on Monday on worries over supply disruptions stemming from intensified Russia-Ukraine airstrikes as well as a weaker dollar. Brent crude was up 62 cents, or 0.9 per ...

The resilience of Cyprus’ electricity system is emerging as a critical priority, according to energy systems expert and former Cyprus Energy Regulatory Authority chairman Andreas Poullikkas.  Speaking on the evolving ...

The government is “studying” the prospect of making a €25-million payment to Greece’s independent transmission system operator (Admie) to help finance the Great Sea Interconnector project, Finance Minister Makis ...

Greek Foreign Minister Giorgos Gerapetritis on Monday night promised that the Great Sea Interconnector project, which, if completed, will connect the energy grids of Greece, Cyprus, and Israel, will go ...

The government is engaged in “damage limitation” following reports of “serious safety issues” regarding the construction of a liquefied natural gas terminal at Vasiliko, Energy Minister George Papanastasiou said on ...

The Transmission System Operator (TSO) on Thursday said it is working with the Electricity Authority of Cyprus to push forward, where possible, applications by businesses wanting to set up energy ...

Oil prices rose 1 per cent on Thursday, bolstered by signs of strong demand in the United States, with uncertainty over efforts to end the war in Ukraine also lending support. ...

The Eastern Mediterranean has the potential to become a significant hub for the production and export of hydrogen, according to a recent mathematical forecasting study by Frederick University’s H2...

The European Union’s reliance on renewable energy in its overall energy supply is higher than the global average, according to the latest figures published by Eurostat. In 2022, renewables represented 18.9 ...