Energy

Energy Minister George Papanastasiou refrained from commenting on Saturday over concerns that EU funding for the EuroAsia Interconnector is at risk due to delays in meeting milestones. Speaking to the ...

Oil prices rose on Friday and were on track for their second straight weekly gain, as resilient demand resulted in a larger-than-expected fall in US oil stockpiles, offsetting fears of ...

Oil prices rose on Tuesday as markets weighed supply cuts for August by top exporters Saudi Arabia and Russia against the backdrop of an uncertain global economic outlook. Brent crude ...

Saudi Arabia and Russia, the world’s biggest oil exporters, deepened oil cuts on Monday, sending prices higher despite concerns over a global economic slowdown and possible further interest rate ...

Oil prices fell on Monday as concerns about a global economic slowdown and possible further interest rate hikes from the US Federal Reserve weighed on prices, offsetting forecasts of tighter ...

Here are the top business stories in Cyprus from the week starting June 26: Bars and restaurants across Cyprus experienced a notable decline in occupancy rates, with the drop in guests ...

Exxon Mobil (XOM.N) has agreed to develop more than 6,100 lithium-rich acres in Arkansas with Tetra Technologies Inc (TTI.N), the second move this year by the oil giant for ...

The highly polluting Dhekelia power plant must be upgraded because it is “very important” for the state, Energy Minister Giorgos Papanastasiou said on Friday. His statements are in line with ...

Greece’s independent power transmission operator (IPTO) and EuroAsia Interconnector have concluded a strategic agreement allowing the former to acquire 25 per cent of the EuroAsia share capital. “The entry of ...

The government has spent some €440 million to cushion consumers from the financial impact of the ongoing global energy crisis, while making other moves aimed at driving down the cost of ...

The two technical committees appointed by Cyprus and Israel, tasked with putting plans into actions on electricity and natural gas projects, are to begin contacts within 15 days. Energy Minister George ...

Disy and Akel MPs reacted on Thursday to the scrapping of relief measures for fuel and electricity, arguing that the summer months were the worst possible time to end the ...

By Andria Kades and Iole Damaskinos Fuel subsidies will be scrapped but electricity bill subsidies will continue albeit more targeted towards vulnerable groups, the cabinet decided on Wednesday. The measure ...

Total petroleum product sales in Cyprus reached 122,581 metric tons in May 2023, marking a 1.4 per cent increase compared to May 2022, according to a report released this week by the Cyprus Statistical ...

By Efi Xanthou On Friday, June 23, the House of Representatives hosted a seminar presenting part of the Fit for 55 EU package, essentially the EU’s target of reducing net greenhouse ...

In a speech delivered at the Hydrogen & Green Gases Forum held last week in Athens, Cyprus Energy Regulatory Authority (CERA) chairman Andreas Poullikkas emphasised that until the completion of ...

As Israel looks to expand its energy capacity by turning to renewables, Cyprus has pitched itself as a potential provider of such power through a subsea electricity interconnector between the ...

Solar energy parks are sprouting up like mushrooms, House agriculture committee chair Yiannakis Gavriel said on Friday during a session on the issue after it emerged that 47 facilities had been ...

Oil dropped for a second day on Friday and was heading for a weekly decline, as a UK interest rate hike added to concern over economic growth that outweighed lower ...

Cyprus does not currently have the capacity to absorb the full amount of the renewable energy it produces, meaning that the excess amount could be transported to Israel – according to ...

Cyprus wants shorter gas pipeline to Israel By Michele Kambas Cyprus hopes to develop plans for a pipeline linking it to Israel’s east Mediterranean gas fields during talks which ...

Oil prices fell on Monday as questions over China’s economy outweighed OPEC+ output cuts and the seventh straight drop in the number of oil and gas rigs operating in ...

By Andreas Charalambous and Omiros Pissarides For more than a century, oil has retained its international position as the main source of energy, utilised, among other things, for fuelling vehicles, ...

Israel, due to estimated shortfalls in domestic electricity production in the coming years, is keen on seeing the creation of the electricity interconnector with Cyprus, Energy Minister George Papanastasiou said ...