Energy

Saudi Arabia’s government on Tuesday ordered state oil company Saudi Aramco (2222.SE) to halt its oil expansion plan and to target a maximum sustained production capacity of 12 million barrels ...

Shell’s exit from Nigeria’s onshore oil sector highlights risks oil majors face in Africa’s biggest exporter but has raised hopes that local firms could reverse the output ...

The much-touted opening up of the electricity market has been pushed back to the summer of 2025, MPs heard on Monday. They got the news from Stavros Stavrinos, executive director at ...

The Electricity Authority of Cyprus (EAC) on Monday denied it has already decided to invest €43 million into upgrading its power plant at Dhekelia, following allegations by an association of businesses. ...

Oil prices climbed on Monday after a drone attack on US forces in Jordan added to worries over supply disruption in the Middle East as Houthi rebels stepped up their ...

President Nikos Christodoulides on Friday spoke about the possibility of a “Great Sea Interconnector” with the United Arab Emirates’ Deputy Foreign Minister and a delegation of the country’s Taqa ...

The ‘TRNC’ has a right to 462,000 square kilometres of Cyprus’ exclusive economic zone (EEZ) including continental shelf, territorial waters and maritime areas of jurisdiction, Turkish Cypriot leader Ersin Tatar has ...

Oil prices eased on Friday but were set for their biggest weekly gain since October as positive US economic growth and signs of Chinese stimulus boosted fuel demand sentiment. Brent ...

Finance Minister Makis Keravnos said Thursday that Cyprus stands to receive the first tranche worth €20.9 million from the EU’s Recovery and Resilience Facility, as an advance payment for implementing ...

Oil prices rose on Thursday after data showed US crude stockpiles fell more than expected last week, while the Chinese central bank’s cut in banks’ reserve ratio reinforced hopes ...

In a strategic move, Island Petroleum, a subsidiary of Island Oil (Holdings), has announced the acquisition and utilisation of the vessel M/T ASTRAIA, dedicated to providing physical supply services ...

The launch of the India-Middle East-Europe Economic Corridor (IMEC), an initiative that aims to bolster economic development between Asia, the Persian Gulf and Europe, has the potential to provide opportunities ...

Oil seesawed between modest falls and gains on Wednesday as traders weighed the impact on prices stemming from escalating geopolitical tensions, concerns over tepid demand and a stronger dollar. The ...

By Iole Damaskinos and Elias Hazou There is great value for the Cyprus electricity market in establishing the mooted subsea power cable connecting Cyprus, Greece and Israel – the Great Sea ...

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 ...